Ethereum stablecoin activity has reached a new high, with the number of unique sending addresses surpassing 1 million per week.

[The activity of Ethereum stablecoins reaches a new high, with the number of unique sending addresses surpassing 1 million weekly] In 2025, the weekly average of unique sending addresses for stablecoins on Ethereum reached 720,000, with the past two weeks seeing it exceed 1 million for the first time. Over the past year, this figure has grown exponentially, increasing by more than 1.7% on average each week since August 2024. Analysis indicates that the growth is primarily driven by the increased adoption rate of stablecoins; in addition, Perptual Futures, prediction markets, and most real-world asset tokenization (RWA) projects settle funds using stablecoins, generating a large number of new addresses with each new application. As a primary settlement layer, Ethereum captures deposits, rebalancing, and payment flows, thereby driving the increase in active addresses.