Hey folks,
Stablecoins are blowing up, and so is ETH!
The market could reach $1.2 trillion by 2028. That is the size of the Netherlands’ economy, entirely on stablecoins. For the uninitiated, stablecoins are digital tokens pegged to real-world currencies like the dollar, designed to hold a steady value.
Ethereum is the clear winner. It smashed through a new all-time high near $4,950 yesterday. And that’s partly because half the world’s stablecoins run on Ethereum.
Right now, about $143 billion worth of stablecoins sit on Ethereum. That is over 50% of the $277 billion global market cap, making ETH the busiest highway for digital dollars.
That’s not all; the world’s largest asset manager, BlackRock, and other giants in global finance are already testing tokenized funds and real-world assets like bonds and real estate on Ethereum, pushing it closer to becoming the settlement layer for both crypto and traditional finance.
Clear rules like the U.S. Genius Act are giving stablecoins room to grow. And competition is heating up.
Tether, the world’s largest stablecoin issuer with over $166 billion in circulation, has tapped Bo Hines, the former head of the White House crypto council, to lead its U.S. push. It is a clear sign that stablecoins are entering the mainstream. Note: All of Tether is not on Ethereum.
Circle, the company behind USDC, the second-largest stablecoin with a market cap of about $66 billion, is making waves too. Its stock has grown more than 335% since its June IPO, turning hype into hard numbers.
Others like Base, Coinbase’s Layer-2 network on Ethereum, are fast becoming a home for stablecoins with USDC at its core and new launches like Wyoming’s Frontier Stable Token now live on it.
Japan’s first yen-pegged stablecoin (JPYC) is also set to roll out this autumn, backed by bank deposits and government bonds, with institutions as the first adopters and ambitions for wider global use.
That’s all for now. We’ll be back next Monday with more updates.
The market is sending mixed signals today as BTC continues to hover just below the $113,000 mark. In contrast, ETH is riding a wave of bullish momentum, surging nearly 9% over the past week. Other altcoins that perform well include OKB, BNB, and CRO.
Weekly price movement:
BTC $111,175 ⏬ 3.56% (7d)
ETH $4,570 ⏫ 6.87% (7d)
OKB $180 ⏫ 56.97% (7d)
BNB $855 ⏫ 2.96% (7d)
CRO $0.15 ⏫ 7.1% (7d)
(All data here as of 1:30 p.m., 25 August 2025)
Before we conclude, here’s a quick look at some important news from around the crypto world.
Circle’s new layer-1 blockchain Arc will integrate with Fireblocks, a New York-based digital asset custody and tokenization platform serving more than 2,400 banks, asset managers, and fintechs. Arc is not yet live, but Circle plans to roll out a public testnet this fall ahead of a full launch by year-end. Fireblocks said it prepares custody and compliance support so clients can transact on Arc once the network launches, according to Cointelegraph.
The US SEC has delayed rulings on three high-profile crypto exchange-traded funds (ETFs), extending review deadlines into October. In notices filed Aug. 18, the agency set new decision dates of Oct. 8 for NYSE Arca’s Truth Social Bitcoin and Ethereum ETF, Oct. 16 for 21Shares’ and Bitwise’s Solana ETFs, and Oct. 19 for the 21Shares Core XRP Trust, according to Cointelegraph.
That’s it for now. Thanks for sticking around.
See you later, folks! 👋