cryptopolitan.com
On-chain data shows that stablecoin net inflows surged by 324% from $10.8 billion in Q2 to $45.6 billion in Q3 2025. $USDT, $USDC, and the rise of Ethena’s $USDe contributed a bigger share to the jump.
Data from RWA.xyz revealed that stablecoins saw more than $46 billion in net inflows in the last 90 days. The firm showed that $USDT stablecoin led in Q2 with roughly $19.6 billion in net inflows, followed by $USDC with $12.3 billion and $USDe’s $9 billion net inflows.
Over the past 90 days, net inflows into stablecoins have totaled >$45 billion. – cointelegraph pic.twitter.com/AFYbVuiPRa
— NekoZ (@NekozTek) September 29, 2025
$USDT leads stablecoins with the most net inflows
Other stablecoin issuers followed with smaller contributions, including PayPal’s PYUSD, which added $1.4 billion, while MakerDAO’s USDS saw around $1.3 billion in net inflows. Ripple’s Ripple USD (RLUSD) and Ethena’s USDtb also showed steady gains during the period.
On-chain data shows that Stablecoins added approximately $56.5 billion over the past six months, with a total of only $10.8 billion recorded in the second quarter. Stablecoins experienced the most inflows in the third quarter, reflecting the recent surge in stablecoins led by $USDT and $USDC, as well as the rise of algorithmic entrants like $USDe.
DeFiLlama revealed that Tether $USDT saw the most inflow in both Q2 and Q3, with around $19.6 billion this quarter and $9.2 billion in the previous quarter. $USDC followed with an increase from $500 million in net issuance from April to June to $12.3 billion in Q3. Athena’s $USDe also recorded a dramatic shift, jumping from $200 million in Q2 to roughly $9 billion in the last quarter.
On-chain data showed that Ethereum remained the most dominant network for stablecoins, hosting over $171.336 billion in circulating stablecoin supply. Tron followed with $76 billion, while networks like Solana, Arbitrum, and BNB Chain trailed with a combined $29.7 billion in stablecoins hosted.
DeFiLlama data also revealed that Tether’s $USDT was the most dominant stablecoin, with nearly 59% of the market. Circle’s $USDC came in second with about 25%, while Ethena’s $USDe recorded nearly 5% of the stablecoin market.
The overall stablecoin market cap also surged by more than 5% in the last 30 days to $296.967 billion. Despite the increase in market capitalization and net inflows, on-chain data further show that the number of monthly addresses fell by 22.6% to 26 million during the same period. Stablecoin transfer volume also dropped by 11% from the previous month to $3.17 trillion.
As Cryptopolitan recently reported, on Monday, Aster became the second-highest protocol globally in trading fees in the last 24 hours. The protocol received more than $14.33 million in fees, surpassing Circle and Uniswap. Aster also became the 11th highest protocol globally in DEX volume, with roughly $206.92 million in trading volume in the last 24 hours.