Stablecoin Volume on Ethereum Breaks $2.8 Trillion Record in October

Summary

In October, Ethereum’s stablecoin transaction volume surged to a record $2.82 trillion, a 45% jump from September, driven primarily by USDC and USDT as traders sought yield amid falling crypto prices. Analysts attribute the spike to liquidity management, yield‑farming activity, and growing use of stablecoins for payments and cross‑border transactions. The data highlights a broader shift from speculative trading to stablecoin‑based hedging and revenue generation, with issuers capturing up to 70% of daily protocol revenue.