Stablecoin Adoption Soars 53% in One Year, Report Shows

A joint report from on-chain analysis platforms Artemis and Dune has revealed significant growth in the use of stablecoins over the past year. Active stablecoin wallets surged by over 50%, marking a substantial increase in user engagement and solidifying stablecoins' role as a vital component of digital finance.

53% Year-on-Year Growth in Active Stablecoin Wallets

According to the report, titled The State of Stablecoins 2025: Supply, Adoption & Market Trends, the number of active stablecoin wallets rose from 19.6 million in February 2024 to more than 30 million by February 2025, representing a 53% year-on-year increase. This growth underscores the expanding role of stablecoins in the broader financial ecosystem, signaling greater adoption across both retail and institutional users.

The report highlights that this surge in active addresses reflects growing engagement with stablecoins, which have increasingly become a bridge between traditional finance and the cryptocurrency space. Stablecoins’ growing acceptance in payments, decentralized finance (DeFi), and their improved accessibility were identified as key factors fueling this rise.

Strong Growth in Stablecoin Supply

In addition to the increase in active wallets, the total supply of stablecoins also saw impressive growth. The supply of stablecoins grew by 63% from February 2024 to February 2025, climbing from $138 billion to $225 billion. Unlike other cryptocurrencies, stablecoins maintain a value of $1, meaning their market capitalization generally mirrors their total supply.

The rising supply reflects the growing demand for stablecoins, driven by their use in diverse financial applications such as cross-border payments, remittances, and trading activities. This growth is further evidenced by the increasing volume of stablecoin transfers.

Surge in Stablecoin Transfer Volume

Stablecoin transfer volumes experienced explosive growth over the past year. The monthly transfer volume for stablecoins nearly doubled, rising by 115% from $1.9 trillion in February 2024 to $4.1 trillion in February 2025. The highest recorded volume occurred in December 2024, with stablecoin transfers reaching a peak of $5.1 trillion. However, volumes dipped slightly in 2025, with a total of $35 trillion in stablecoin transfers over the past year.

These figures demonstrate the growing prominence of stablecoins in facilitating transactions across various sectors. The continued increase in transfer volume highlights stablecoins’ critical role in providing liquidity and enhancing the efficiency of financial systems.

Whale and Institutional Activity

While the overall increase in transfer volume is notable, the report also revealed some interesting trends in the average transfer size. Despite a minimal rise from $676,000 in 2024 to $683,000 in 2025, there were significant spikes in the average transfer size in specific months. In May 2024, the average transfer size reached $2.6 million, and in July, it hit $2.2 million. These fluctuations suggest that large transactions, likely driven by institutional investors or high-net-worth individuals (whales), are contributing to the overall volume.

The report’s analysts from Artemis and Dune pointed out that these spikes in transfer size indicate that stablecoins are increasingly being used by both retail and institutional participants, further solidifying their position as a key tool in the global financial ecosystem.

Conclusion: Stablecoins’ Growing Impact on Digital Finance

The rapid growth in stablecoin adoption, including the sharp increase in active wallets, supply, and transfer volume, underscores the transformative role that stablecoins are playing in the digital finance landscape. As more users—ranging from retail traders to institutional investors—turn to stablecoins for their stability and versatility, their importance in bridging traditional finance with the world of cryptocurrencies continues to expand.

As stablecoin adoption continues to rise, it’s clear that these digital assets are not only here to stay but are also poised to play an increasingly vital role in reshaping the future of finance.