Ethereum's stablecoin supply has surged to a record $165 billion, with approximately $5 billion added over the past week. This increase indicates a doubling of stablecoin supply since January 2024, giving Ethereum a commanding market share of 57%, far exceeding its closest competitor, Tron, which holds 27%. Additionally, Ethereum has seen significant growth in tokenized commodities, with around $2.4 billion in tokenized gold, marking a 77% market dominance in this area. Notably, the demand for Ether has driven its price over 200% since April, reaching nearly $5,000 on August 24, largely due to treasury corporations accumulating nearly 4% of the total supply. The trend towards tokenization is evident as major financial institutions, such as Fidelity, are launching products, including a tokenized U.S. Treasurys fund on Ethereum. This reflects a broader institutional interest in utilizing Ethereum for blockchain-based financial products and services.

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