The latest research by Artemis and Dune reveals remarkable growth in the stablecoin ecosystem, reflecting an increasing shift toward digital finance solutions. Their comprehensive report, titled The State of Stablecoins 2025: Supply, Adoption & Market Trends, provides evidence of heightened user engagement and expanding usage across multiple financial applications.
Expansion in Active Wallets
Data indicates that the number of active stablecoin wallets surged from 19.6 million in February 2024 to over 30 million by February 2025. This 53% year-over-year increase underscores the growing trust and commitment of both retail and institutional participants to stablecoins as a reliable digital asset.
Significant Growth in Total Supply
The report highlights that the overall supply of stablecoins experienced a remarkable rise. In February 2024, the total supply was valued at $138 billion, which then expanded to approximately $225 billion in February 2025—a growth of 63%. Because stablecoins maintain a pegged value of 1 US Dollar per unit, their market capitalization directly mirrors this supply increase.
Surging Transaction Volumes
The research also details substantial growth in transaction volumes. Monthly transfer volumes jumped from $1.9 trillion in February 2024 to $4.1 trillion in February 2025, marking a growth of 115% year-over-year. Over the past year, stablecoins have been instrumental in facilitating transfers totaling around $35 trillion.
Average Transaction Values and Market Activity
Despite significant increases in overall transaction volumes and active users, the average transfer size remained relatively stable, showing a slight rise from approximately $676,000 to $683,000. Occasional peaks in months such as May and July—where average transfers reached as high as $2.6 million and $2.2 million respectively—indicate sporadic bursts of activity likely driven by large-scale investors or institutional players.
Bridging Traditional Finance and Digital Innovation
These trends suggest that stablecoins are solidifying their role as a key intermediary between conventional financial systems and the decentralized digital ecosystem. With increasing adoption across payment systems and decentralized finance (DeFi) applications, stablecoins are now more crucial than ever in facilitating smooth and efficient transactions, thereby transforming the landscape of digital finance.
| Metric | February 2024 | February 2025 |
| Active Wallets | 19.6 million | Over 30 million |
| Total Supply | $138 billion | $225 billion |
| Monthly Transfer Volume | $1.9 trillion | $4.1 trillion |
The findings detailed in this report paint an encouraging picture for the ongoing integration of stablecoins into everyday financial transactions. As the ecosystem continues to evolve, it is clear that both innovation and adoption are on an upward trajectory, reinforcing the pivotal role of stablecoins in the modern financial landscape.
Maxwell Reed is the first editor of Cryptovista360. He loves technology and finance, which led him to crypto. With a background in computer science and journalism, he simplifies digital currency complexities with storytelling and humor. Maxwell began following crypto early, staying updated with blockchain trends. He enjoys coffee, exploring tech, and discussing finance’s future. His motto: “Stay curious and keep learning.” Enjoy the journey with us!