Grayscale’s Zach Pandl highlights Ethereum’s dominance in onchain finance metrics
Grayscale's research highlights Ethereum's significant role in onchain finance, showcasing its dominance in stablecoins, DeFi, and tokenized assets. The findings reveal that Ethereum holds over 50% of stablecoin balances and commands around 65% of total value locked in DeFi protocols. Despite competition from other platforms, Ethereum remains a key player in the evolving landscape of decentralized finance.
- ▪Ethereum controls over 50% of all stablecoin balances as of mid-2025.
- ▪It handles approximately 65% of total value locked across decentralized finance protocols.
- ▪Nearly 80% of tokenized US Treasury products are based on Ethereum.
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Grayscale’s Zach Pandl highlights Ethereum’s dominance in onchain finance metrics The asset manager's research arm lays out the numbers: Ethereum controls the majority of stablecoins, DeFi TVL, and tokenized treasuries, even as competitors chip away at the edges. Share Add us on Google by Editorial Team May. 22, 2026 (function () { var s = document.currentScript; var wrapper = s && s.closest ? s.closest('.cb-sevioads-inarticle') : null; var inMobile = wrapper && wrapper.closest('#mobile-articles'); var inDesktop = wrapper && wrapper.closest('#desktop-articles'); if (inMobile || inDesktop) { var isDesktopVp = window.matchMedia('(min-width: 768px)').matches; var matches = (inMobile && !isDesktopVp) || (inDesktop && isDesktopVp); if (!matches) { var sevioDiv =…
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