Crypto adoption through Ethereum is pushing several on-chain metrics to all-time highs, including stablecoins market cap, as well as tokenized funds, commodities, and stocks.
4 Major Metrics Just Hit All-Time Highs. Thanks, Ethereum
Four on-chain metrics reached all-time highs, including the stablecoins market cap across chains, and the market cap of tokenized funds, commodities, and stocks. The increasing institutional adoption of Ethereum is expected to propel the expansion further.
The stablecoin market cap across chains has reached $311 billion on Jan 20, setting a new all-time high. Meanwhile, according to on-chain tracker DefiLlama, Ethereum, with its 51.5% USDT dominance, brought in $778.8 million in the previous week alone and accounted for $164.1 billion, or roughly 52.8% of the overall stablecoin market cap.
While on-chain trackers back the assumption that Ethereum pushed the stablecoin market cap to new highs, there’s a disparity in stock statistics. According to Leon Waidmann, Head of Research at Onchain Foundation, and metrics tracker Token Terminal, the tokenized stocks have reached $456 million overall.
Real-word asset tracker RWA.xyz claimed the number stands at $863 million on Jan 20, a 16% uptick in the previous 30 days.
Despite the difference in numbers, several platforms confirm Ethereum’s dominance of the RWA sector inflows. According to rwa.xyz, the network brought in $1.1 billion in the previous 30 days.
Tokenized funds and tokenized commodities have reached new all-time highs of $14.2 billion and $4.3 billion, respectively, albeit again with slight disparity of statistics across multiple on-chain trackers.
According to the mentioned rwa.xyz, Ethereum accounts for over 80% of the tokenized commodities market cap at $3.9 billion.
Ethereum Adoption Accelerates
According to a recent post on the official Ethereum X account, the network is “the #1 choice for global financial institutions,” as the network reported several recent partnerships, including Google, Fidelity, UBS, and American Express.
For example, Asia’s leading asset manager ChinaAMC, with $449 billion in AUM, launched its Select USD Money Market Fund on Ethereum.
Additionally, the network advertised its new partnership with Fidelity, asserting that “the Fidelity Digital Interest Token (FDIT) brings the bank’s investors the speed of onchain settlement alongside the stability of traditional instruments.”
The expanding Ethereum adoption, partially due to the latter’s regulatory clarity, could facilitate further growth of the RWA sector in general.
