Ethereum hosts 54% of all stablecoins as tokenized stocks jump 170%

Ethereum's stablecoin lead holds steady while its tokenized stock market reaches $827 million, and investors are watching for a familiar pattern Ethereum still hosts more digital dollars than any other blockchain. As of late October 2026, it accounted for about 54.1% of all stablecoins issued, out of a total market tracked across 47 blockchains. The newer storyline is stocks. Ethereum’s tokenized stock market grew 170% year over year to $827 million, and some investors are wondering whether equities could follow the path stablecoins took. The numbers behind Ethereum’s lead Start with stablecoins. Roughly $162.5 to $163 billion worth of stablecoins have been issued on Ethereum. That sits inside a total stablecoin market cap of around $300 to $301 billion. More than half of every on-chain dollar, in other words, was minted on one network. A second measure tells a slightly different story. Ethereum’s stablecoin holdings stand at approximately $143.76 billion, or about 47.69% of the total market. Why two numbers? Issuance tracks where tokens are created. Holdings track where they actually sit. The research behind these figures notes that bridging activity, which moves tokens between ch...