Year-end analysis of over 20,000 transactions shows institutional influence and the continued dominance of cost-efficient blockchain networks. Out of all processed transactions in 2025, 10 most reoccurring pairs accounted for 21,530 completed instant swaps throughout 2025, with an average transaction value in the sample equal to 0.023 BTC, reflecting activity patterns that align with the year’s major market developments including Bitcoin’s volatile journey to new all-time highs above $126,000 in October before correcting to the $85,000-$90,000 range by year-end. Tether USD (USDT) on the Tron network emerged as the dominant, most frequently chosen asset in either direction, accounting for 13 percent of all trading pairs by value, followed closely by Bitcoin at 12 percent and Solana at 10 percent. This distribution reflects the broader cryptocurrency market’s evolution in 2025, where Tron-based USDT transfers became the preferred method for cost-conscious traders seeking to minimize transaction fees.
By mid-year, Tron carried over $80 billion in USDT circulation, representing more than half of Tether’s global supply. The network’s low transaction fees and three-second settlement times made it the default choice for instant exchanges, particularly among users in emerging markets and those conducting frequent transfers; both demographics confirmed to be prominent sets of users by the year-end analysis. The dominance of stablecoin pairs in ChangeHero’s leading volume generators aligns with the transformative role stablecoins played across the cryptocurrency market in 2025. Industry-wide, stablecoins processed $46 trillion in total transaction volume throughout the year, with adjusted volumes reaching $1.25 trillion monthly by September, approaching the scale of traditional payment networks.
This institutional-grade settlement activity occurred largely on cost-efficient networks like Tron, exactly as reflected in ChangeHero’s user preferences. Bitcoin-related pairs dominated transaction counts, occurring against a backdrop of unprecedented institutional adoption, as spot Bitcoin ETFs accumulated $57.7 billion in net inflows throughout 2025, with BlackRock’s IBIT alone managing approximately $70 billion in assets by November. The platform’s statistics still reveal a market increasingly shaped by institutional infrastructure despite operating primarily in the retail instant exchange segment. The average transaction size further confirms the retail-focused nature of instant exchanges while suggesting a market increasingly comfortable with meaningful value transfers through non-custodial platforms.
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