The on-chain value of stablecoins on the Ethereum network rose to a record $180 billion. Token Terminal estimated Ethereum accounts for 60 percent of total stablecoin supply, up 150 percent from three years ago. It projected $1.7 trillion could flow on-chain across networks over four years, with $850 billion potentially going to Ethereum by 2030 under a 470 percent expansion assumption. Other datasets put Ethereum’s stablecoin value at $168 billion, with 56 percent share, rising above 65 percent including layer-2 networks.

The Ethereum Foundation plans to convert about 5,000 ether into stablecoins to secure funds for operating costs and grant programmes. It will sell ether gradually using CoWSwap's time-weighted average price function to reduce market impact, targeting about $11 million. The move follows earlier TWAP sales and reflects a broader shift toward DeFi operations and staking alongside sales and over-the-counter deals. The foundation continues to hold substantial ether and stablecoin assets.