Stablecoin User Base Surges 53% in a Year

Stablecoin popularity has significantly increased, according to a joint report from onchain analytical platforms Artemis and Dune. According to the paper, “The State of Stablecoins 2025: Supply, Adoption & Market Trends,” active stablecoin addresses increased by 53%, from 19.6 million to 30 million, between February 2024 and February 2025.

This growth, according to Artemis and Dune analysts, indicates rising user engagement. Additionally, they pointed out that stablecoins have cemented their position as a link between the crypto environment and traditional banking, especially in applications related to payments and decentralized financing (DeFi).

Supply and Transfer Volume Soar

There was also a sharp increase in the overall supply of stablecoins. The supply increased by 63%, from $138 billion in February 2024 to $225 billion in February 2025, according to the research. Stablecoins, in contrast to other cryptocurrencies, usually hold their value at $1, so their supply and market capitalization are nearly equal.

Additionally, the activity of stablecoin transfers increased. The monthly volume of transfers increased by 115%, from $1.9 trillion in February 2024 to $4.1 trillion a year later. Although volumes somewhat decreased in early 2025, December 2024 saw the biggest volume ever, at $5.1 trillion. Over the course of the previous year, stablecoins enabled $35 trillion in payments.

While supply and transfer volumes surged, the average transfer size saw only a minor increase, rising from $676,000 to $683,000. However, significant spikes in average transfer sizes occurred in May and July, reaching $2.6 million and $2.2 million respectively. These anomalies suggest heightened institutional activity during those periods.

Artemis and Dune analysts noted that such fluctuations demonstrate the dual appeal of stablecoins for both retail users and large-scale institutional investors. As stablecoins continue to expand their role in digital finance, their influence on global financial ecosystems is expected to grow further.