ERC-20 tokens are approaching 50% of the total value stored on Ethereum.
Over the past two years there has been a complete transformation in how value is stored and transferred on the Ethereum blockchain.
ETH is increasingly close to being flipped on its own blockchain.
Whether or not it does will likely depend on the growth of stablecoins vs growth in the value of ETH.
Nevertheless, this transformation in value on Ethereum is not just about assets being stored.
They’re also being used to move significant amounts of value.
Driven by the growth of stablecoins, Ethereum is on pace to settle more than $530 billion this year.
As covered previously, ETH's decreasing role as a MoE may not be positive for ETH, at least in the long-term.
However, the Ethereum community well understands the need to maintain ETH’s privileged position on the Ethereum blockchain.
Furthermore, ETH's use in DeFi helps to solidify its position as Ethereum’s primary store of value.
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