The market capitalization of Ethereum stablecoins has risen by 1,000,000 times since the time ETH first reached $1,4k

Since the stablecoin token first reached $1.400 in January 2018, the total market capitalization of the Ethereum ecosystem has increased by approximately 1,000,000-fold.

The following is a list of data DeFi Llama is the ETH.ETHOn May 6, the stablecoins market cap grew to approximately $124,5 billion. It has fallen by around $100m or 0.08% in the last week.

When ETH reached $1400 in January 2018 for the first ever time, it was a historic moment. stablecoin The market cap for Ethereum was just $124.500. Ethereum, despite its modest beginnings, has now become the second largest cryptocurrency in terms of market capital, behind only Bitcoin.BTC).

Press time Tether was (USDTETH continues to dominate the stablecoin ecosystem, with a market capitalization of around $52 billion or $64.7 billion.

USD Coins (USDC) injects $37 billion in market cap to the ETH ecosystem, followed by Ethena’s USDe (USDESky Dollar’s USDS and Dai’s DAI (which are ranked fourth and fifth respectively) make up $4.5billion of the stablecoin total market capitalization. Sky Dollar USDS is ranked fourth, followed by Dai DAI.DAIThe stablecoin markets are worth approximately $3.6 and $3.8 billion respectively.

At the time of publication, ETH has dipped by 0.89% over the last 24 hours. The current price of ETH, which is $1,804, has risen by more than 10.9% over the past two week. ETH is valued at over $216 billion with a $9.2 billion daily volume. Trading volume is up 4.10% from the previous trading day, showing a slight increase in activity.

Crypto.news has reported that Ethereum is getting ready to launch a new platform. launch The next major update is scheduled for this month. The upgrade is set to introduce a number of changes aimed at boosting on-chain scalability, improving user experience, and enhancing validator efficiency through EIP-7251’s maximum stake adjustment from from 32 ETH to 2,048 ETH.