On January 25, news emerged that the latest data released by Token Terminal outlines the explosive growth of the Ethereum stablecoin ecosystem in 2025: throughout the year, stablecoin issuers relying on Ethereum deployment achieved $5 billion in revenue, with a single-quarter income soaring to $1.4 billion in the fourth quarter, marking an annual peak. Behind this achievement is the continuous expansion of the supply scale of Ethereum stablecoins and the deep empowerment of ecological infrastructure.
In 2025, the supply of stablecoins on Ethereum is expected to grow by approximately $50 billion throughout the year, surpassing a total scale of $180 billion by the fourth quarter, accounting for over 57% of the global stablecoin market cap of $311 billion, firmly establishing itself as the largest supply carrier among mainstream stablecoin issuers. The expansion on the supply side directly drives the increase in revenue for issuers, with its core income derived from the interest generated by reserve assets that support stablecoin issuance. As the application scenarios for stablecoins continue to expand, the commercial value of this revenue model is also being continuously released.
As the core infrastructure of the cryptocurrency ecosystem, the growth of Ethereum's stablecoins is not a single data surge, but rather a deep interaction with scenarios such as DeFi, cross-border payments, and NFTs. In 2025, the transfer volume of stablecoins on Ethereum achieved new highs, reaching $8 trillion in the fourth quarter, becoming the core vehicle for on-chain transactions, lending, and margin settlements, and making stablecoins an important hub connecting the cryptocurrency market with traditional finance. The maturity of Layer 2 scaling solutions has further resolved Ethereum's performance bottleneck, providing technical support for the large-scale application of stablecoins and driving their transformation from a single payment tool to a diversified financial infrastructure.
The strong growth of the Ethereum stablecoin ecosystem also reflects the structural changes in the cryptocurrency market: against the backdrop of fluctuations in the total market value of cryptocurrencies, stablecoins, with their value anchoring characteristics, have become the market's 'ballast stone', while Ethereum, with its mature ecosystem, widespread institutional recognition, and clear regulatory adaptability, continues to consolidate its core position in the stablecoin sector. This trend also points the way for the development of the cryptocurrency market in 2026, as the compliance and scenario-based approach of stablecoins may become an important driving force for the implementation of blockchain technology.$VANRY
