Ethereum Sets Q4 Record With Over $8 Trillion in Stablecoin Transfers as Activity Peaks
Analysts say the jump reflects growing on-chain payments use rather than speculative trading.
Overview
- Token Terminal reports that stablecoin transfers on Ethereum surpassed $8 trillion in Q4 2025, nearly doubling the roughly $4 trillion recorded in Q2.
- Stablecoin supply on Ethereum rose 43% during 2025 to $181 billion from $127 billion, according to BlockWorks.
- Network usage hit new highs in December with 2.23 million daily transactions and 10.4 million monthly active addresses, and daily unique senders and receivers topped one million.
- Ethereum held about 57% of stablecoin issuance and roughly 65% of on-chain RWA value near $19 billion, with Tron around 27% and more than half of Tether’s supply on Ethereum.
- Following the Fusaka upgrade that brought PeerDAS to mainnet, Vitalik Buterin said PeerDAS plus zkEVMs solve the blockchain trilemma, while ETH traded above $3,200 with a recent high near $3,218.