Ethereum powers $8T in stablecoin transfers in Q4, smashing record

Stablecoin transfer volume on Ethereum surpassed $8 trillion in the fourth quarter of 2025, marking a new all-time high, reported Token Terminal on Monday.

The $8 trillion milestone is almost double the transfer volume figure for the second quarter, which was just over $4 trillion, according to the chart.

Stablecoin issuance on Ethereum increased by around 43% in 2025 from $127 billion to $181 billion by year’s end, according to BlockWorks.

“This isn’t speculation. This is global payments happening on-chain,” commented “BMNR Bullz” on X. This is before SWIFT-style integrations, full RWA tokenization, and institutional rails going live. “The rails are already built. Adoption is catching up,” they added.

Stablecoin volumes on Ethereum surged in Q4. Source: Token Terminal

Ethereum transactions and addresses peak

The milestone coincided with an all-time high in total daily transactions on the Ethereum (ETH) network, which hit 2.23 million in late December, according to Etherscan. Ethereum daily transactions are currently up 48% since the same time last year.

Token Terminal reports that Ethereum active monthly addresses hit an all-time high of 10.4 million in December.

Monthly active addresses peaked in December. Source: Token Terminal

Related: Ethereum added $1B of stablecoins almost every day last week

There was also an increase in the daily number of unique addresses that were active on the network as senders or receivers, which topped a million in late December.

Ethereum remains king for RWA tokenization

The Ethereum network remains the primary settlement layer for stablecoins and real-world asset tokenization, with around 65% market share of total RWA on-chain value, which is around $19 billion, according to RWA.xyz.

That market dominance increases to over 70% when layer-2 and EVM networks are included.

Ethereum currently has a 57% market share of all stablecoins issued, with the Tron network in second place with a 27% share.

Tether (USDT) remains the market leader in issuance with $187 billion, equating to 60% of the entire stablecoin market, and more than half of that is on Ethereum.

Magazine: Kain Warwick loses $50K ETH bet, Bitmine’s ‘1000x’ share plan: Hodler’s Digest