Ethereum processed a record-breaking $8 trillion in stablecoin transfers during the fourth quarter of 2025, highlighting the network’s growing role as core infrastructure for on-chain payments and digital settlement.
Data from Token Terminal shows the Q4 figure nearly doubled the volume recorded in the second quarter of the year, highlighting an acceleration in real economic activity taking place on Ethereum rather than speculative trading alone.
The surge in transaction volume was accompanied by sustained growth in stablecoin supply on the network. Figures compiled by Blockworks indicate that stablecoin issuance on Ethereum expanded sharply over the course of 2025, rising from roughly $127 billion at the start of the year to about $181 billion by December.
Network usage metrics also reached new highs toward the end of the year. Ethereum’s daily transaction count climbed to approximately 2.23 million in late December, representing a near-50% increase compared with the same period a year earlier.
Monthly active addresses reached a record 10.4 million, while the number of unique wallets sending or receiving funds on a daily basis surpassed one million, reflecting broader participation across the ecosystem.
The data reinforces Ethereum’s position as the dominant settlement layer for stablecoins and tokenized real-world assets. The network accounts for roughly two-thirds of all on-chain real-world asset value, a share that rises above 70% when Ethereum-compatible layer-2 networks are included, according to industry trackers.
Ethereum also maintains the largest share of stablecoin issuance, hosting more than half of the total supply currently in circulation. While competing blockchains have gained traction in specific use cases, Ethereum continues to anchor the majority of dollar-pegged liquidity used for payments, transfers and on-chain settlement.
Market observers note that the scale of stablecoin activity points to a structural shift in how value moves across blockchain networks. With core payment rails already in place, the latest figures suggest adoption is increasingly driven by practical use rather than anticipation alone, a trend expected to deepen as institutional and real-world integrations continue to expand.
