How Significant Are $165B in Ethereum-Based Stablecoins?

[lingriiddd]

ETH-backed stablecoins now total $165 billion, ranking 22nd globally among FX reserves.
This means Ethereum isn’t just a DeFi chain — it’s becoming a digital reserve layer. For advanced users, this shift could strengthen ETH’s correlation with macro liquidity cycles, transforming it into a reserve asset narrative similar to gold or the U.S. dollar.

[Rimon Khan]

That $165B liquidity base gives ETH unmatched on-chain utility.

[Abdul Khan]

Stablecoin dominance shows Ethereum’s real-world value is growing fast.