Stablecoin activity has reached historic levels in July 2025, with usage metrics for Tether (USDT) and USD Coin (USDC) surging to all-time highs. According to recent data, USDT recorded over 147,000 daily active addresses, while USDC followed closely with more than 97,000, marking the highest levels of engagement for both assets [1]. These figures reflect a growing reliance on stablecoins for trading, saving, and cross-border transactions, particularly within the broader cryptocurrency ecosystem.

The surge in activity is part of a broader trend in the stablecoin market, which saw global transfer volumes exceed $27.6 trillion in the past year, surpassing the combined transaction volumes of major traditional card networks [2]. On the Ethereum network alone, USDC transactions totaled 8.3 million in July 2025, with a monthly transfer value of $748.3 billion [1]. The increase in volume and activity is driven by stablecoins’ utility in decentralized finance (DeFi), exchanges, and institutional-grade blockchain solutions.

Despite these gains, stablecoin adoption is still largely confined to the crypto ecosystem, with 88% of activity occurring within digital asset platforms and only 6% linked to real-world payments [3]. This suggests that while stablecoins are increasingly used in financial infrastructure, their integration into traditional payment systems remains limited. Nevertheless, the rise in institutional adoption and custody demand is evident, particularly as regulatory clarity improves in several major economies.

Regulatory developments have played a key role in the current landscape. Increased clarity has spurred institutional adoption, reflected in the performance of crypto-related stocks and the demand for custody solutions. For example, Coinbase’s stock reached an all-time high of $444.64 in July 2025 amid rising trading volumes [4]. Meanwhile, U.S. banks have expressed concerns that new stablecoin frameworks could lead to massive deposit outflows, sparking debates over financial stability and regulatory fairness [6].

The momentum in stablecoin activity is also supported by the performance of underlying blockchain infrastructure. Ethereum, for instance, hit new all-time highs in July 2025, driven by corporate buying and a shifting macroeconomic outlook [7]. Strong spot demand for ETH has led to outperformance against BTC, with ETH reaching as high as $4,996 on some exchanges [8].

Industry leaders are also acknowledging the growing influence of stablecoins. Binance CEO Changpeng “CZ” Zhao has publicly stated that central bank digital currencies (CBDCs) are becoming obsolete in the face of stablecoin innovation and global regulatory support [5]. This reflects a broader belief that stablecoins are not only a tool for crypto trading but also a foundational component of the evolving digital finance ecosystem.

Source: [1] title1: USDC usage on the Ethereum network hits an all-time high (https://www.chaincatcher.com/en/article/2200144)

[2] title2: Stablecoins Hit Their IPhone Moment From Wyoming To … (https://www.forbes.com/sites/digital-assets/2025/08/25/stablecoins-hit-their-iphone-moment-from-wyoming-to-japan-to-metamask/) [3] title3: Stablecoin Growth Could Shake Bond Markets (https://www.mitrade.com/insights/news/live-news/article-3-1066851-20250825) [4] title4: Stablecoin Stocks: How Regulatory Clarity and Institutional … (https://www.ainvest.com/news/stablecoin-stocks-regulatory-clarity-institutional-adoption-reshaping-risk-demand-2508-39/) [5] title5: CZ Declares CBDCs Outdated as Stablecoins Dominate … (https://coincentral.com/cz-declares-cbdcs-outdated-as-stablecoins-dominate-global-focus/) [6] title6: U.S. Banks Warn Stablecoins Could Trigger Massive … (https://coincentral.com/u-s-banks-warn-stablecoins-could-trigger-massive-deposit-outflows/) [7] title7: Ethereum Hits All-Time High On Bullish Economic Outlook (https://stocktwits.com/news-articles/markets/cryptocurrency/ethereum-hits-all-time-high-on-bullish-economic-outlook/chssWfTRdKx) [8] title8: ETH breaks out on strong spot demand – Kaiko – Research (https://research.kaiko.com/insights/eth-breaks-out-on-strong-spot-demand)