Catenaa, Thursday, November 06, 2025- Monthly transaction volume for stablecoins on the Ethereum blockchain reached a record $2.82 trillion in October, up 45% from September, as traders sought yield opportunities amid broader crypto market profit-taking.
Data from The Block shows Circle’s USDC led activity with $1.62 trillion in volume, followed by Tether’s USDT at $895.5 billion.
MakerDAO’s DAI accounted for $136 billion, down from $141.2 billion in September and sharply below May’s $470.7 billion.
Analysts said the surge reflects increased use of stablecoins for liquidity management, hedging, and yield farming during market consolidation.
Bitcoin fell 11.5% to $108,229, while Ethereum dropped 16.4% to $3,754, prompting traders to deploy stablecoins as a temporary store of value.
Stablecoins are increasingly used for payments, cross-border transfers, and non-speculative strategies, signaling maturation in crypto markets.
Stablecoin issuers also dominated revenue generation among crypto protocols last month, accounting for roughly 65% to 70% of daily revenue, ahead of lending platforms, decentralized exchanges, and blockchain infrastructure.
Earnings largely derive from interest on assets backing stablecoins, typically held in low-risk instruments such as US Treasuries.
