The number of active stablecoin wallets has jumped from 19.6 million in February 2024 to over 30 million in February 2025 — a whopping 53% increase in just one year.
A recent report titled “State of Stablecoins in 2025: Supply, Adoption, and Market Trends” highlights this surge, showing that more people than ever are getting into stablecoins. On-chain analytics platforms suggest that this rapid growth reflects broader user engagement. Basically, stablecoins are becoming the go-to bridge between traditional finance and the crypto world, solidifying their spot as a key player in the digital finance ecosystem.
So, what’s driving this spike? Increased institutional adoption, growing use in payments and decentralized finance (DeFi), and better overall accessibility seem to be the main factors fueling this boom.
Total Stablecoin Supply Surged by 63% in a Year
It’s not just the number of wallets that’s growing — the total stablecoin supply has also exploded. In February 2024, the total supply of stablecoins sat at $138 billion. Fast forward a year, and that number has shot up to $225 billion — a solid 63% increase.
Unlike other crypto assets, stablecoins are pegged to the value of the U.S. dollar, so their market cap essentially mirrors their total supply. This stability is what makes them such an attractive option for both everyday users and big institutions.
Monthly Transaction Volume Doubled to Over $4 Trillion
Stablecoins aren’t just sitting in wallets — they’re moving. A lot. The monthly transaction volume of stablecoins climbed from $1.9 trillion in February 2024 to $4.1 trillion in February 2025 — that’s a jaw-dropping 115% increase in just a year.
The record for the highest monthly volume was hit in December 2024, when transactions reached an eye-popping $5.1 trillion. Things cooled down a bit in early 2025, but stablecoins still facilitated a staggering $35 trillion in transfers over the past year.
Interestingly, while the overall volume surged, the average transaction size barely budged — rising from $676,000 in 2024 to $683,000 in 2025. However, there were some wild spikes: in May, the average shot up to $2.6 million, and in July, it hit $2.2 million — signs that whales and institutions were making big moves.
Stablecoins are clearly becoming a major force in the financial world — blending the reliability of traditional money with the speed and flexibility of crypto. With adoption skyrocketing and volumes breaking records, it’s safe to say that stablecoins aren’t just a passing trend — they’re reshaping the future of finance.