Stablecoin Adoption Surges: Active Wallets Increase by Over 50% in One Year

Stablecoin Adoption Surges

A recent joint report by on-chain analytics platforms Artemis and Dune reveals a significant rise in active stablecoin wallets, marking a 53% year-on-year increase.

Titled “The State of Stablecoins 2025: Supply, Adoption & Market Trends,” the report highlights that active stablecoin addresses grew from 19.6 million in February 2024 to 30 million in February 2025. Analysts attribute this surge to expanding user engagement, underscoring stablecoins’ evolving role in bridging traditional finance and the crypto economy.

Key Growth Drivers: Institutional Adoption, Payments, and DeFi

The report identifies multiple factors fueling stablecoin adoption, including rising institutional participation, increased use in payments and decentralized finance (DeFi), and enhanced accessibility. These trends underscore stablecoins’ growing significance as a foundational element of the digital financial ecosystem.

Total Stablecoin Supply Jumps 63% in a Year

In addition to user growth, the total supply of stablecoins saw substantial expansion. In February 2024, the stablecoin supply stood at $138 billion. By February 2025, this figure had soared to $225 billion, reflecting a 63% year-on-year increase.

Unlike other crypto assets, stablecoins maintain a fixed value of $1, meaning their market capitalization directly aligns with their total supply.

Transfer Volumes See Explosive Growth

Stablecoin usage intensified significantly over the past year, as reflected in monthly transfer volume. In February 2024, stablecoins facilitated $1.9 trillion in transfers. By February 2025, this figure had more than doubled to $4.1 trillion, marking a 115% increase.

The highest transfer volume was recorded in December 2024, when stablecoin transactions peaked at $5.1 trillion. However, activity saw a slight decline in early 2025. Over the course of the year, total stablecoin transfers amounted to a staggering $35 trillion.

Institutional Transactions on the Rise

While most metrics exhibited explosive growth, the average transfer size saw only a marginal increase—from $676,000 in 2024 to $683,000 in 2025. However, notable spikes occurred in May ($2.6 million) and July ($2.2 million), indicating periods of heightened institutional and whale activity.

According to analysts at Artemis and Dune, these fluctuations reflect the versatility of stablecoins, which are now widely used in both retail and institutional transactions.

With stablecoins becoming an integral part of digital finance, their role in global transactions is expected to expand further, reshaping the landscape of traditional and decentralized economies.