Stablecoin reserves have climbed past $58.5 billion, reflecting a surge in hedging activity across the globe. A notable increase in depositing addresses, exceeding 30,000 and sometimes approaching 40,000, suggests traders are strategically holding stablecoins while awaiting market clarity. This robust influx comes as investors flock to digital dollars amidst economic uncertainty. This marks the second significant inflow wave in less than a year, following a surge triggered by rising unemployment at the end of 2024. Ethereum now processes nearly 70% of all stablecoin transactions, establishing itself as the dominant settlement layer for both liquidity and institutional activity.