Ethereum Powers Over $8 Trillion in Stablecoin Transfers in Q4, Setting New Record

Ethereum Stablecoin Activity Hits Historic High

Ethereum processed more than $8 trillion in stablecoin transfers during the fourth quarter of 2025, setting a new all-time record and underscoring the network’s role as the backbone of on-chain payments, according to data from Token Terminal.

The figure represents a dramatic acceleration in activity. Stablecoin transfer volume in Q4 was nearly double Q2’s total, which stood at just over $4 trillion, highlighting the pace at which on-chain settlement is scaling.

Stablecoin issuance on Ethereum also expanded sharply over the year. According to Blockworks, the total value of stablecoins issued on Ethereum grew by approximately 43% in 2025, rising from $127 billion to $181 billion by year-end.

“This isn’t speculation — this is global payments happening on-chain,” commented market observer BMNR Bullz on X.

“The rails are already built. Adoption is catching up,” they added, pointing to future integrations with traditional financial infrastructure and real-world asset tokenization.

Network Usage Climbs to New Peaks

The surge in stablecoin activity coincided with record-breaking usage across the Ethereum network.

According to Etherscan, total daily transactions on Ethereum reached an all-time high of approximately 2.23 million transactions in late December. That figure represents a 48% increase year over year, reflecting sustained growth in both retail and institutional usage.

Token Terminal data also shows that monthly active addresses on Ethereum climbed to a record 10.4 million in December, while the number of daily unique addresses acting as senders or receivers surpassed one million during the same period.

Together, these metrics point to broad-based growth in network participation rather than activity driven by a narrow segment of users.

Source: Token Terminal Ethereum dashboard

Ethereum Maintains Lead in Stablecoins and Tokenized Assets

Ethereum continues to dominate as the primary settlement layer for both stablecoins and real-world asset (RWA) tokenization.

According to data from RWA.xyz, Ethereum accounts for roughly 65% of all on-chain RWA value, representing about $19 billion. When Ethereum layer-2 networks and other EVM-compatible chains are included, that share rises to over 70%.

The network also leads in stablecoin issuance. Ethereum hosts approximately 57% of all stablecoins in circulation, compared with 27% on the Tron network.

Tether (USDT) remains the largest stablecoin issuer overall, with about $187 billion outstanding — roughly 60% of the total stablecoin market. More than half of USDT’s supply continues to be issued on Ethereum.

Outlook: Ethereum as Global Settlement Infrastructure

The record $8 trillion quarter reinforces Ethereum’s position as the dominant base layer for digital dollar settlement and tokenized assets. With transaction counts, active addresses, and issuance all reaching new highs, Ethereum’s role is increasingly shifting from speculative infrastructure to real-world financial plumbing.

As institutional rails, tokenized securities, and cross-border payment integrations continue to roll out, Ethereum’s stablecoin economy appears positioned for further expansion in 2026 and beyond.

See all our insights: Bitcoin World News