Stablecoin transfer volume on Ethereum surpassed $8 trillion in the fourth quarter of 2025, marking a new all-time high, Token Terminal reported on Monday.
The $8 trillion milestone is almost double the transfer volume figure for the second quarter, which was just over $4 trillion, to Token Terminal’s chart.
Stablecoin issuance on Ethereum increased by around 43% in 2025 from $127 billion to $181 billion by year’s end, 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 going live.
“The rails are already built. Adoption is catching up,” they .
Ethereum transactions and addresses peak
The milestone coincided with an all-time high in total daily transactions on the Ethereum network, which hit 2.23 million in late December, 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.
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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 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 issued, with the Tron network in second place with a 27% share.
Tether () 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.
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