Stablecoin users grew 53% in one year: Report

An analysis from on-chain data platforms revealed that the number of active stablecoin wallets surged by over 50% in just one year.

The analysis, entitled “The State of Stablecoins 2025: Supply, Adoption & Market Trends,” indicated that from February 2024 to February 2025, the number of active addresses increased from 19.6 million to 30 million, reflecting a year-on-year growth of 53%.

This growth signifies a broader engagement among users, as these platforms noted that in 2024, stablecoins began to serve as a link between traditional finance and the crypto world, becoming essential to digital finance.

Factors contributing to the increase in active stablecoin addresses included growing institutional uptake, an expanded role in payments and decentralized finance (DeFi), and greater accessibility.

Related: A rising $219B stablecoin supply may indicate a mid-bull cycle, not a market peak.

Total supply of stablecoins rose by 63% in one year

Beyond the increase in active addresses, the overall supply of stablecoins also saw significant growth. The analysis highlighted that in February 2024, stablecoins had a total supply of $138 billion, which climbed to $225 billion by February 2025, marking a 63% year-on-year rise.

Unlike most other crypto assets, stablecoins are designed to maintain a value close to $1, meaning their market capitalization aligns closely with their total supply.

In the same year, monthly transfer volumes of stablecoins also experienced a substantial increase. The monthly transfer volume rose from $1.9 trillion in February 2024 to $4.1 trillion by February 2025, reflecting a dramatic 115% surge.

The highest monthly volume for stablecoins was observed in December 2024, with transfers totaling $5.1 trillion, although it was followed by a drop in 2025. Over the past year, stablecoins enabled a cumulative total of $35 trillion in transfers.

While other metrics showed robust growth, the average transfer size for stablecoins saw only slight increases, shifting from $676,000 in 2024 to $683,000 a year later.

Nonetheless, there were fluctuations, with averages peaking at $2.6 million in May and $2.2 million in July, indicating increased activity among larger investors or institutions using stablecoins.

Analysts from the data platforms noted that these fluctuations reflect the widespread utilization of stablecoins in both retail and institutional transactions.