Ethereum, Arbitrum One, and Base saw a combined increase of $403.1 million in stablecoin supply over a seven-day period in October 2026. Ethereum accounted for the largest portion of this growth, adding approximately $243 million.
According to DefiLlama, the total stablecoin supply on the Ethereum network currently stands at around $146.5 billion. This figure represents 47–48% of the total on-chain stablecoin supply across major tracked networks.
Layer-2 networks also experienced growth, with Arbitrum’s supply increasing by 2.08% and Base recording a 0.86% rise over the same week. The market remains dominated by USDT from Tether and USDC from Circle.
The broader stablecoin market cap has remained within a range of $300 billion to $306 billion. Analysts note that the recent growth fits within this stable pattern, with no specific news events identified as catalysts.
