The actions of builders on Ethereum, that are measured by the variety of good contract wallets, elevated exponentially in the final quarter of 2025, reaching new data simply because the Ethereum ecosystem proved itself the perfect layer for stablecoins, internet hosting as much as 54% of the worldwide stablecoin provide on ETH.
Token Terminal’s information has revealed Ethereum had about 8.7 million good contracts deployed in the final quarter of 2025, making it the best quarter witnessed ever, surpassing its earlier record from 2021 when it reported 6 million deployments.
ETH builders set a new record in 2025
Based on Leon Waidmann, Head of Analysis at Onchain Basis, 2025 was a 12 months of divergence for Ethereum as builders have been extra centered on transport merchandise that scale slightly than speculating.
“That divergence issues heading into 2026!” Waidman claimed, earlier than he declared that Ethereum is making the strongest case because the core execution and settlement layer.
Nonetheless, one person identified that “amount ≠ high quality” then asked, “what number of of these 8.7M contracts are literally getting used vs deployed and deserted? Lively contract interactions matter greater than deployment rely.”
That sentiment was echoed in different feedback as extra individuals teased the opportunity of these deployments getting deserted in the long run.
The Ethereum token worth has but to totally replicate this bullishness; nonetheless, the spike in deployed good contracts confirms that the ecosystem has not misplaced its attraction and is attracting builders with nice concepts to ship.
Stablecoin provide on ETH is at its largest but
The Ethereum ecosystem will not be solely attracting builders in scores, its stablecoin stats are simply as spectacular. Based on reports, the ETH community at present hosts about 54% of the full stablecoins in circulation.
This confirms its position because the settlement layer for establishments, and its stronghold on DeFi is simply as robust.
Behind Ethereum is Tron, one other fee rail with 26% of total stablecoin provide, dominating non-EVM chains with its uncooked USDT quantity. Satirically, Tron accounts for extra transaction quantity, as it’s most popular by particular person customers and retailers for its low charges.
Solana got here in third place with simply 5% attributed to it, and BSC was fourth with a mere 4.7%.
From the statistics, it’s clear that ETH has maintained its status as an anchor for belief and worth storage. Nonetheless, Tron may maintain its personal in relation to funds.
In the meantime, Solana continues to develop quickly, accounting for extra on-chain transaction quantity than each different alternate bar Binance in 2025.
Sign up to Bybit and begin buying and selling with $30,050 in welcome presents
