The accelerated adoption of stablecoins might be a positive catalyst for both Ethereum (ETH) and Bitcoin (BTC) as the two will serve as exit currencies, EigenLayer founder Sreeram Kannan pointed out in X. Meanwhile, the number of accounts holding stablecoins globally inches closer to 2.5% of Earth's population.
Stablecoins will be gateway to Ether, EigenLayer's Sreeram Kannan foresees
The next phase of global adoption of stablecoins will be a massive trigger for Ethereum (ETH) and Bitcoin (BTC) adoption as well. The final stage of liquidity transfer will be in the two biggest currencies, not in USD or USDT, Sreeram Kannan, founder of crypto heavyweight EigenLayer, says in his X.
Kannan comments on the post about the potential effects of global stablecoin adoption that would include massive economic and technological shifts. The author foresees the irrelevance of slow and cost-ineffective TradFi value that remittance system stablecoins can completely replace.
Also, nations of the Global South will be able to allocate more money instead of spending it on costly foreign exchange and cross-border payment systems.
Kannan, at the same time, highlighted that only regulated stablecoins will dominate in certain jurisdictions. Even with all diligence and KYC restrictions, stablecoins will move the focus to on-chain economics:
Stablecoins are going to create the perfect conditions under which fully on-chain and programmable money like ETH will take off. Having understood the risks of stables, people will exit to ETH / BTC rather than to USDT.
As covered by U.Today previously, Ripple President Monica Long indicated stablecoin-specific blockchains, liquidity deficit and branded Web2/Web3 payment networks as the next big trends for the stablecoin sphere.
Tron, Ethereum duopoly for stablecoin segment shrinking: Top analyst
Despite the fact that Ethereum (ETH) and Tron (TRX) remain the dominant stablecoin blockchains, the supremacy of the two protocols is losing its traction. Such an observation was posted by seasoned blockchain researcher Nic Carter.
Compared to previous cycle tops, when Ethereum (ETH) and Tron (TRX) were responsible for almost 100% of the stablecoin scene, now they only account for 85%.
Stablecoins outside Ethereum (ETH) and Tron (TRX) added $43 billion in capitalization in 2021-2025, as mentioned by analysts. Together with recently launched blockchain Plasma (XPL), this exceeds $50 billion in equivalent.
Solana (SOL) represents the biggest threat to the "duopoly." Its stablecoin supply more than tripled in 12 months, growing from $4 billion to over $14 billion.
On-chain stablecoin user count extremely close to 200 million
Last week, Nic Carter also indicated the nearing end of another duopoly, i.e., that USDT and USDC dominate as the biggest stablecoins by market cap.
The adoption of stablecoins grows day by day: USDT, the largest stable asset, increased its capitalization to $175 billion, while closest competitor USDC sits at $75 billion.
The aggregated capitalization of the stablecoin segment reached an all-time high of $300 billion in equivalent.
Also, the number of on-chain stablecoin holders sets new records. As per RWA.xyz tracker, over 200 million of accounts have stablecoins stored on them.
Should this be compared to Earth's population (8.14 billion in 2024), one in 40 people on Earth would hold stablecoins.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team