The Ethereum network is demonstrating a systemic phase transition, evolving into a primary settlement layer for dollar-denominated value transfer. Surpassing one million unique weekly stablecoin senders establishes a new baseline for network throughput and adoption. This growth is a direct function of stablecoins serving as the practical dollar in jurisdictions with capital controls and as the core funding and settlement asset for a new generation of financial products. The network is capturing the onboarding, rebalancing, and payout flows from perpetuals, prediction markets, and real-world assets.
This creates a feedback loop where application growth drives settlement demand, solidifying Ethereum’s role as the foundational architecture for a parallel financial system. The sustained weekly growth rate points toward an accelerating network effect.
The surge in unique stablecoin senders confirms the protocol’s fundamental utility as a global, decentralized settlement rail, reflecting its deep integration into emerging financial applications.
- Weekly Unique Senders ▴ Surpassed 1 million in the past two weeks.
- 2025 Weekly Average ▴ 720,000 unique senders.
- Historical Weekly Average ▴ ~400,000 (Jan 2020 – Jul 2024).
Signal Acquired from ▴ The Block
