Ethereum Handled $8 Trillion In Stablecoin Volume During Q4, Breaking Records

Ethereum processed a record $8 trillion in stablecoin transfers in Q4, reinforcing its role as the dominant blockchain for global payments.

The world of defi reached a massive milestone with the start of the new year. Data shows that Ethereum powered $8 trillion in stablecoin transfers during the fourth quarter alone. 

This figure is nearly double the volume seen in the second quarter of the year and proves that blockchain networks are no longer just for speculators. 

Instead, they are becoming the main rails for moving value around the world.

Ethereum Powers $8 Trillion in Stablecoin Transfers

The surge to $8 trillion in volume shows a major change in the digital asset market. 

According to Token Terminal, this milestone shows a rise in reliance on stablecoins for actual commerce. 

While the second quarter saw $4 trillion in transfers, the end of the year brought a massive wave of activity. This growth happened alongside a 43% increase in stablecoin issuance on the network.

Total stablecoins on Ethereum grew from $127 billion to $181 billion by the end of December. 

Network activity also hit new peaks during this period and etherscan reported that daily transactions reached 2.23 million in late December.

This is a 48% increase compared to the previous year. 

Furthermore, monthly active addresses hit an all-time high of 10.4 million and these numbers indicate that more unique users are joining the network every day.

Fusaka Upgrade Enhances How Ethereum Powers $8 Trillion in Transfers

A major reason for this success is the constant improvement of the Ethereum network itself. In particular, the Fusaka upgrade went live in early December.

This technical change introduced something called Peer Data Availability Sampling, which allows nodes to verify large chunks of data by sampling only small portions. 

This makes the network much more efficient and cheaper to use.

The upgrade has already shown impressive results. Transaction fees on the main network have dropped to historic lows, often sitting around $0.16.

This cost reduction is important for anyone using the network for payments. Lower fees mean that stablecoin transfers are now cheaper than many traditional bank wires or credit card swipes.

New address creation has also skyrocketed by 110% since the upgrade. Glassnode data also shows that the network is adding about 292,000 new addresses per day.

This is the fastest pace of onboarding since the bull market of last year. 

As the network becomes easier and cheaper to access, more people are setting up digital wallets to participate.

Related Reading: Ethereum Growth in 2026 Expected to Come From Crypto Neobanks

Market Dominance and Real-World Asset Tokenisation

Ethereum continues to be the king of settlement layers. It currently holds about 65% of the market share for on-chain Real-World Assets (RWA). 

This is roughly $19 billion in total value according to RWA.xyz. When you include Layer-2 networks like Arbitrum and Base, that dominance rises to over 70%. 

The network also hosts 57% of all stablecoins issued worldwide. Its closest competitor, Tron, holds a 27% share. 

Tether’s USDT is the leader in the space with $187 billion in circulation, and more than half of that total is issued directly on Ethereum. 

This concentration of liquidity makes the network the most attractive place for developers to build new defi apps.

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