Ethereum's stablecoin supply has surged from $22 billion in January 2021 to $123 billion today, marking an increase of over five times in just over four years. In addition, the Ethereum network has processed $1.18 trillion in stablecoin transfers over the past 30 days, setting a record for the highest volume ever recorded on the platform. This figure is a substantial increase from the $556 billion in stablecoin transfers processed in October 2024. The growth in stablecoin activity reflects the increasing adoption and usage of Ethereum as a platform for decentralized finance (DeFi) and other blockchain applications.