Ethereum is losing ownership of crypto payments as Base moves $565B in stablecoins
Base’s slim lead over Ethereum in adjusted stablecoin volume points to a bigger shift in how tokenized dollars move across blockchain networks.
Follow stablecoin news, issuer updates, market share changes, regulation, reserve transparency, and payment adoption trends.
XRPL’s stablecoin supply is nearing $900 million, but the bigger signal is USDV’s arrival as a second dollar token, testing whether the network can become a multi-issuer settlement rail beyond Ripple’s RLUSD.
The signal is about who controls the wallet-to-merchant path that makes tokenized dollars spendable.
A stablecoin built around a giant partner list now faces the question every coalition coin must answer: who is actually committed, and what does participation mean?
Stablecoin supply dropped to $312 billion in Q2, while transaction counts and organic transfer volume also declined.
GENIUS may make stablecoins safer, but tx and Plasma warn the compliance bill could turn the market into a scale game only giants can afford.
The 134-address action exposes how public-chain intelligence and issuer controls are becoming real-time enforcement infrastructure.