PANews reported on October 14th that according to The Block, the number of unique stablecoin senders on Ethereum has grown exponentially over the past 12 months. From January 2020 to July 2024, the number averaged approximately 400,000 per week. Starting in August 2024, the average weekly increase exceeded 1.7%, reaching new highs. In 2025, the average weekly number of unique stablecoin senders on Ethereum reached 720,000, and in the past two weeks alone, the weekly average has exceeded 1 million.

The surge in independent stablecoin senders is primarily driven by the growing adoption of stablecoins. For example, in countries with foreign exchange volatility or capital controls, stablecoins effectively serve as a substitute for the US dollar. Furthermore, the use of stablecoins for settlement of perpetual swaps, prediction markets, and most real-world assets is generating new addresses. Furthermore, as a Layer 1 settlement venue, Ethereum captures traffic from new users, bringing in many new stablecoin senders.