The stablecoin supply on the Ethereum blockchain has reached an unprecedented $160 billion, driven by a recent surge in minting activity from Tether and Circle. Over the past three days, these issuers have collectively minted $4 billion in stablecoins, contributing to this new all-time high. The increase is linked to the GENIUS Act, which provides regulatory guidelines for stablecoin issuers in the US. Ethereum now commands over 53% of the stablecoin market share, with Tron trailing behind. The GENIUS Act, signed by President Donald Trump earlier this year, has further legitimized the stablecoin sector, potentially increasing demand for Ethereum. Analysts from Standard Chartered and JPMorgan have expressed optimism about Ethereum's future, forecasting significant price growth by 2028.