A new report highlights a sharp increase in stablecoin adoption, with active wallets surpassing 30 million and total supply reaching $225 billion.

The stablecoin market is experiencing rapid expansion, as revealed in a recent report by blockchain analytics platforms Artemis and Dune. Titled “The State of Stablecoins 2025: Supply, Adoption & Market Trends”, the study highlights a 53% year-on-year increase in active stablecoin addresses, growing from 19.6 million in February 2024 to over 30 million in February 2025.

This surge underscores stablecoins' increasing role as a bridge between traditional finance and crypto, driven by broader adoption across institutional finance, payments, and decentralized finance (DeFi).

Key Findings from the Report

Active stablecoin wallets grew from 19.6 million to 30 million, marking a 53% increase year-on-year, while total stablecoin supply surged from $138 billion to $225 billion, reflecting a 63% rise. Monthly stablecoin transfer volume also saw significant growth, jumping from $1.9 trillion to $4.1 trillion, an increase of 115%. Over the past year, stablecoins facilitated $35 trillion in total transfers.

Stablecoins continue to solidify their role as a core component of the digital economy, offering a stable store of value, low transaction costs, and high liquidity. The report attributes the rise in adoption to several key factors:

  • Institutional involvement: More financial institutions are leveraging stablecoins for settlements and cross-border transactions.
  • Payments and remittances: Stablecoins provide a fast and cost-effective alternative to traditional banking systems.
  • DeFi growth: The expansion of lending protocols, liquidity pools, and decentralized exchanges (DEXs) is fueling stablecoin demand.
  • Retail accessibility: With stablecoins becoming easier to use, a broader range of users are embracing them for daily transactions.

Stablecoin Supply Surges by 63%

Unlike other crypto assets, stablecoins maintain a 1:1 peg with fiat currencies, making their market capitalization nearly identical to their total supply. Over the past year, total stablecoin supply increased from $138 billion to $225 billion, reflecting sustained demand.

The total monthly transfer volume surged from $1.9 trillion to $4.1 trillion, marking a 115% increase. The highest recorded volume occurred in December 2024, hitting $5.1 trillion, before experiencing a slight decline in early 2025. Over the course of the year, stablecoins facilitated $35 trillion in total transfers.

While transaction volume surged, the average transfer size showed little movement, rising only 1% from $676,000 to $683,000. However, significant spikes occurred in May ($2.6 million) and July ($2.2 million), suggesting increased institutional or whale activity.

Analysts at Artemis and Dune noted that these fluctuations reflect the dual-use case of stablecoins, catering to both retail and institutional investors.

The Future of Stablecoins

As the market continues to evolve, stablecoins are expected to play an even greater role in global finance. With increasing adoption in DeFi, traditional finance, and remittances, their utility as a stable digital asset is becoming undeniable.

Given the momentum, experts predict further regulatory developments and technological innovations in stablecoin infrastructure, paving the way for greater mainstream adoption in the years ahead.

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