Ethereum’s Stablecoin transaction volume had an all-time high of $900.8 billion in April 2025, driven by institutional adoption, technology giants such as Meta and Stripe, and Donald Trump’s World Liberty Financial Stablecoin (USD1). Despite the growing competition, this milestone underscores Ethereum’s dominance in digital finance.
Ethereum’s Stablecoin surges to historic peak
The largest layer 1 chain stable sales reached a historic $900.8 billion in April 2025, marking a new all-time high. According to block. This surge is higher than $850 billion in May 2024, reflecting the role of Ethereum as a leading blockchain for US dollar fixed digital assets. USDC, issued by Circle, has led the way with over $500 billion in deals over the past six months, while USD from Dai and Sky have also seen significant activity, indicating a diversified Stablecoin market.
Source: Block
The surge coincides with major developments. Meta announced plans to conduct a cost-effective deal and launched a Stablecoin-based payment solution after acquiring Bridge for $1.1 billion.
Meanwhile, President Donald Trump’s world free finance project has caused $2 billion in Stablecoin, now the seventh largest market capitalization. The Coindesk report on May 16, 2025 shows that the rapid growth of USD1 has attracted the attention of institutions. Ethereum’s Stablecoin market cap accounts for 51% of the $230 billion total, according to the advantages of competitors such as Tron.
Institutional adoption and competition challenges
The $900 billion milestone reflects growing trust in cross-border payments and Defi’s Stablecoins. Tether (USDT) has 52% market share, followed by USDC, but Ethereum’s infrastructure supports a wider ecosystem, including Ethena’s USDE and Ripple’s plan Stablecoin.
However, competition is intensifying. Solana and Tier 2 solutions are attracting traction, with TRON hosting $60.7 billion of Stablecoin Supply, each Unchained. Despite these challenges, Ethereum’s strong infrastructure and institutional support ensures its leading position in stable transactions.
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