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Ethereum stablecoin ecosystem expansion: tokenization of the euro market share exceeds 50%
The dominance of Ethereum in the tokenization of the euro sector is becoming prominent. According to the latest data from Token Terminal, nearly half of the globally issued tokenized euro assets are built on the Ethereum network. What does this number reflect? On one hand, Ethereum's maturity as a DeFi infrastructure is unmatched; on the other hand, the demand for euro stablecoins is exploding, and Ethereum has become the preferred battleground in this market due to its liquidity, ecosystem applications, and developer base. Against the backdrop of the European Central Bank's ongoing promotion of the digital euro process, tokenized euros on Ethereum are likely to become the main avenue for on-chain euro circulation.
Just look at the borrowing rate to understand. With so many stablecoins stacked on one chain, whether the risk control points can hold is the key. Otherwise, a strong liquidation wave would mean reshuffling everything.
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50% share? To be honest, it's a bit unexpected, it feels like users are still lazy to hustle, they just lean towards whichever ecosystem is mature. When the digital euro really goes live, this number is probably going to break 60 directly.
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They are really quick on the moves over in Europe, while we're still debating, they've already started paving the way, and there are plenty of arbitrage opportunities.
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Instead of studying these news articles, it's better to see which euro stablecoins have the best liquidity... the opportunities are right there.
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This is what we call infrastructure advantage, ETH has this kind of stickiness, it wasn't even this stable during the PoW era.
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50% and still have the audacity to call it dominance? Let's talk about it again after the digital euro is implemented, it's a bit early to discuss this now.
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As for central bank digital currency, on-chain DEX is really standard... no wonder institutions are hoarding ETH.
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Ecological maturity + Liquidity + Developer base, this combination really can't be beaten, no wonder other public chains are not feeling too good about it.
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The European Central Bank is pushing for it, but the on-chain business has already been snatched up by Ethereum, it's a bit of dark humor, isn't it?
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However, this also shows one thing: as long as the ecosystem is good and there are many users, latecomers can't catch up no matter how hard they try... Now, is there any other public chain that dares to compete with Ethereum in stablecoins?
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That 50% figure looks nice, but I'm more concerned about when this money will actually flow to ordinary users' wallets... It's still stuck in the hands of institutions, trapped in layers.
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Is it true that tokenization of euros is so popular now? I feel like it's still niche, asking around I don't find many people involved with this stuff.
The explosion of the Euro stablecoin seems like just the beginning; it's hard to say how things will unfold from here.
By the way, will the European Central Bank really allow on-chain Euro to be this rampant? It just feels a bit off.
The data looks good, but the real test is yet to come.
Can the ETH ecosystem hold up? I'm a bit uncertain.
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With Ethereum and stablecoins, when will it be time for other public chains to rise?
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I'll admit the liquidity is strong, but if gas fees keep going like this, users will eventually leave.
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Explosion of tokenized euros? I just want to know how many are actually used; will it be another situation where the data looks good but no one is using it?
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The Central Bank is working on a digital euro, and it's highly likely they'll end up adopting the Ethereum model; after all, it's the most complete ecosystem.
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50% sounds impressive, but who knows how long this cycle can last?
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There's no denying that DeFi infrastructure is mature, but the monopoly status can't last too long, right?