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According to the latest data from Token Terminal, the transfer volume of stablecoins on Ethereum surpassed $8 trillion in Q4 2025, marking the third consecutive quarter to set a new record. Even more noteworthy, compared to the beginning of 2025, this figure has nearly doubled.
What does this data indicate? As the main blockchain for the DeFi ecosystem, the continuous growth of stablecoins reflects increasing activity in on-chain transactions and capital flows. Whether it’s trading on exchanges, DeFi operations, or cross-chain bridging, stablecoins serve as a core settlement tool.
From a quarterly perspective, this growth trend is not a flash in the pan. Three consecutive quarters of new highs demonstrate that market participants’ confidence in the Ethereum ecosystem is steadily building, and the application scenarios for stablecoins are continuously expanding. This not only signifies market recognition of Ethereum’s network stability and security but also reflects the ongoing vitality of the Web3 ecosystem.