[Ethereum Stablecoin Trading Volume Reaches $2.82 Trillion in October, Setting a New Record] In October 2025, the trading volume of stablecoins on Ethereum reached $2.82 trillion, marking a historic high and a 45% month-on-month increase. Among them, Circle's USDC recorded a trading volume of $1.62 trillion, ranking first; USDT had a trading volume of $895.5 billion, coming in second; MakerDAO's DAI recorded a trading volume of $13.6 billion, ranking third. Analysts pointed out that during the crypto market correction, Bitcoin and Ethereum fell by 11.5% and 16.4%, respectively. Traders utilized stablecoins to manage liquidity and seek yield opportunities, with stablecoin issuers accounting for 65%-70% of the daily total revenue of crypto protocols.