Ethereum Stablecoins Hit $2.8 Trillion in One Month – Here's Why Whales Are Buying
2025-11-04 21:15
In October, stablecoin transaction volumes increased by 45% to $2.8 trillion, up from the record of $1.94 trillion in September. The surge comes as large-scale investors continue accumulating Ethereum-based stablecoins amid volatile market conditions. The market capitalization of Ethereum stablecoins has increased by a record 1.36% weekly, surpassing $165 billion. Tether's USDT leads with 85.88 billion tokens circulating on Ethereum , experiencing a monthly growth rate of 8.12%. Circle's USDC comes next, with 48.2 billion tokens in circulation, which increased by 5.79% during the same period. Stablecoin transfer volume on Ethereum, Source: X On-chain data show that the aggregate amount of stablecoin transactions on Ethereum has increased by 1,000% since May 2023. This expansion positions stablecoins as a significant force in digital payments infrastructure. Market Position and Annual Performance Stablecoins control around 60% of the broader market with a total circulation of more than $308 billion. USDT leads with a...
