In the fourth quarter of 2025, stablecoin transfer volume on Ethereum exceeded $8 trillion, setting a new all-time record, as reported by Token Terminal on Monday.
This $8 trillion mark is nearly double the transfer volume from the second quarter, which was just over $4 trillion, as shown in the chart.
Stablecoin issuance on Ethereum rose by about 43% in 2025, climbing from $127 billion to $181 billion by the end of the year, according to BlockWorks.
“This is not just speculation. This is real-time global payments happening on-chain,” commented “BMNR Bullz” on X. This is prior to the integration of SWIFT-style systems, comprehensive RWA tokenization, and the launch of institutional rails. “The infrastructure is already in place. Adoption is on the rise,” they added.

Ethereum transactions and addresses peak
This milestone coincided with a record high in daily transactions on the Ethereum (ETH) network, which reached 2.23 million in late December, according to Etherscan. Daily transactions on Ethereum have surged 48% compared to the same period last year.
Token Terminal indicates that active monthly addresses on Ethereum reached a new high of 10.4 million in December.

Related: Ethereum added $1B of stablecoins nearly every day last week
There was also a rise in the daily number of unique addresses active on the network, which surpassed a million in late December.
Ethereum remains the leader in RWA tokenization
The Ethereum network continues to be the primary settlement layer for stablecoins and real-world asset tokenization, holding approximately 65% market share of the total RWA on-chain value, estimated at around $19 billion, according to RWA.xyz.
This market dominance increases to over 70% when incorporating layer-2 and EVM networks.
Currently, Ethereum commands a 57% market share of all stablecoins issued, with the Tron network trailing with a 27% share.
Tether (USDT) leads the market in issuance with $187 billion, representing 60% of the overall stablecoin market, and more than half of that amount is on Ethereum.
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