Ethereum Leads Stablecoin Usage as Transfer Metrics Hit All-Time Highs

Token Terminal data show Ethereum’s transfer volume and monthly active senders at all-time highs, underscoring its central role in the stablecoin ecosystem.

Rich by Coin

2026-01-29

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Ethereum has emerged as the leading network in stablecoin supply, with notable growth in usage metrics. Token Terminal data show that transfer volume and the number of monthly active senders on Ethereum have reached all-time highs. This surge underscores Ethereum’s pivotal role in the stablecoin ecosystem and its attraction of increased activity and engagement from users.

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The data highlight the growing importance of Ethereum for on-chain liquidity. The momentum underscores Ethereum’s ongoing central role as stablecoins expand their on-chain footprint. As usage continues to rise, Ethereum’s network activity may reflect broader adoption trends in the DeFi and payments space.