Stablecoin Supply: The supply of stablecoins on Ethereum has continued to grow, surpassing $100 billion by the end of 2024, with traditional financial institutions like PayPal and J.P. Morgan participating.

Total Value Locked (TVL): Ethereum’s TVL reached a new high of $88 billion in 2025, maintaining its leading position despite competition from other chains.

Active Users: Ethereum L1 daily active addresses hit a historic high of 580,000. When combined with L2s (e.g., Base, Arbitrum), daily active addresses exceed 2.5 million.

Daily Transaction Volume: Ethereum L1 daily transactions remain stable at over 1.7 million, with a cumulative total of 2.9 billion transactions. Including L2s, the ecosystem processes over 500 million daily transactions.

Institutional Adoption: Institutions like J.P. Morgan and the Trump administration have chosen Ethereum. Ethereum dominates the RWA sector with a 54% market share, and Ethereum ETF inflows have surged.

Censorship Resistance: Ethereum upholds censorship resistance, with block builders generally processing all transactions. Developers are pushing for "inclusion lists" to further strengthen this feature.

Active Developers: Ethereum leads with 186 core developers, and the EVM has become the standard for blockchain development.

Economic Security: Staked ETH value reached a historic high of $140 billion, continuously enhancing network security.

Contract Deployments: In 2025, daily new contract deployments exceeded 200,000 multiple times, with L1 remaining a hub of innovation.

ETH Price: In 2025, ETH appreciated by 75% against Bitcoin, approaching all-time highs, with growing expectations for a breakthrough to $10,000.

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Summary

Source: Bankless

Compiled and Organized by: BitpushNews

Ethereum has now been around for a decade. A full ten years after its mainnet began producing blocks, on-chain data in 2025 shows explosive growth in activity!

Although alternative public chains and Ethereum’s own Layer 2 networks have diverted some user activity, Ethereum remains the beating heart of the crypto economy—leading the industry in developer momentum, censorship resistance, and numerous key on-chain metrics.

So, what does the landscape of this pioneering smart contract platform look like after a decade of development? These 10 core data points illustrate Ethereum’s enduring dominance.

1. Stablecoin Supply

Tether, in collaboration with crypto exchange Bitfinex, pioneered the U.S. dollar-pegged stablecoin in 2015. Since these tokens began migrating on-chain in 2017, the supply of stablecoins on the Ethereum network has expanded at an astonishing rate.

Apart from a brief decline during the worst of the last crypto bear market, the on-chain stablecoin supply on Ethereum has historically trended "only upward," breaking through the $100 billion mark by the end of 2024 and showing no signs of slowing down in recent months.

Today, dozens of dollar-pegged token issuers operate on the network, including traditional financial giants like PayPal and J.P. Morgan. Meanwhile, the recently passed U.S. GENIUS Act is paving the way for institutional adoption, drawing mainstream attention to stablecoins as an alternative medium for daily payments.

2. Total Value Locked (TVL)

Ethereum was the original smart contract platform. Although multiple L1 competitors and their integrated L2 networks have diverted some of Ethereum’s locked value, the chain remains a leader in TVL.

TVL stored in on-chain smart contracts and their associated applications is the lifeblood of every crypto network: it represents the amount of value users trust and deposit into the on-chain financial system.

Despite suffering during the last bear market as cryptocurrency prices plummeted and users withdrew or migrated to competing chains, Ethereum’s TVL has exploded since April this year, reaching a new cycle high of over $88 billion and actively chasing new all-time highs.

3. Active Users

Even as casual Ethereum ecosystem user activity has migrated to L2s, it hasn’t slowed the growth of daily active users on Ethereum, which recently hit a historic high of 580,000 unique addresses.

During past bear markets, daily active addresses remained stable and have continued climbing throughout 2025, with more users turning to Ethereum L1 for the unique properties offered by the world’s leading on-chain financial ecosystem.

When active addresses on Ethereum L2s are included, this growth becomes even more staggering; Coinbase’s Base L2 alone sees 1.3 million daily active addresses. Meanwhile, leading L2s like Arbitrum, Celo, Ink, and World Chain add another 1.2 million addresses.

4. Daily Transaction Volume

As active users on Ethereum L1 have increased, so has the number of transactions. Since October 2023, daily transaction volume has steadily risen, with a floor of over 1.7 million transactions at the time of writing.

Although this metric spikes sharply during periods of intense speculative activity, Ethereum’s daily transaction volume has historically trended "only upward," with a cumulative total of 2.9 billion transactions since the network’s genesis.

When including Ethereum’s numerous L2s, this statistic becomes even more optimistic. Including leading L2s, the Ethereum ecosystem processes over 500 million daily transactions.

5. Institutional Adoption

Ethereum has long been a blockchain favored by on-chain enthusiasts, but in 2025, the crypto network broke out of its niche to become a preferred smart contract platform for institutional players.

President Donald Trump chose the Ethereum network as the home for his "World Free Financial Project" in 2024, early in this trend. Banking giant J.P. Morgan deployed its deposit token on Base in June this year, and Ethereum L1 has established itself as the dominant platform for real-world assets (RWA), controlling nearly $7 billion in value and capturing 54% of the market share in this sector.

In recent months, Ethereum treasury companies—including those led by Consensys’ Joe Lubin and Wall Street’s Tom Lee—have stolen the spotlight with massive price outperformance compared to Bitcoin competitors. Similarly, Ethereum ETF inflows have surged dramatically in recent weeks, attracting hundreds of millions of dollars daily, signaling that Ethereum mania is sweeping the retail market.

6. Censorship Resistance

Ethereum L1 prides itself on censorship resistance, offering an open financial system by allowing anyone to broadcast transactions without fear of their operational capabilities being compromised by a single actor or nation-state.

Unlike other crypto networks that frequently roll back chains to prevent funds from falling into the wrong hands, Ethereum’s culture is unique in its blind trust in code, ensuring all transactions are final regardless of consequences.

These values extend to block building, where most block builders choose to process all transactions, regardless of whether addresses or smart contracts have been flagged as malicious by nation-state actors.

Since President Donald Trump took office, compliance with the U.S. Office of Foreign Assets Control (OFAC) sanctions list has significantly declined in 2025, and major block builders have committed to processing all transactions regardless of origin.

Furthermore, leading Ethereum developers remain committed to implementing "inclusion lists," which would force all validators and block builders to include transactions based solely on fees.

7. Active Developers

The state of Ethereum’s core developer community—the number of unique GitHub users who have committed code to its public repositories at least once in the past 30 days—remains strong!

Although the number of active developers is below the peak of the last bull cycle, Ethereum’s core active developer count (with 186 unique contributors) still surpasses all other crypto projects.

Ethereum’s EVM (Ethereum Virtual Machine) has become the default standard for blockchain-based development, with its applications enjoying broad compatibility across mainstream chains.

8. Economic Security

Apart from a few brief interruptions (the longest of which occurred between November 2024 and February 2025), the amount of staked ETH has steadily increased since the "Beacon Chain" staking first went live in November 2020.

Combined with ETH’s explosive price action, the ongoing upward trend in ETH staking has pushed Ethereum’s "economic security"—the value of ETH staked by validators to protect the network—to a historic high of $140 billion.

As Ethereum’s economic security grows, users can transact with greater confidence, knowing their assets are increasingly protected from malicious actors seeking to manipulate the blockchain ledger.

9. Contract Deployments

Blockchains exist to serve user transactions, and contract deployments provide insight into the evolving scope of on-chain activity.

These contracts can range from simple token deployments to complex applications, but each new contract represents potential new behaviors or use cases for users. In this way, contract deployments signal growth in on-chain innovation and utility.

Although Ethereum contract deployments slowed in late 2024 and early 2025, recent months have seen a fierce development boom, with daily new contract deployments exceeding 200,000 multiple times this year. Despite developers migrating to L2s, Ethereum L1 remains a vibrant hub of activity.

10. ETH Price

Arguably the most watched success metric for any crypto project is the price of its native token. Although Ethereum struggled for years to compete with alternative cryptocurrencies, the token has staged a strong comeback since May 2025, appreciating by 75% against Bitcoin.

Ethereum has become one of the best-performing crypto assets in recent months, with its industry dominance nearly doubling as crypto natives and institutional investors rally around ETH.

Although Ethereum remains 10% away from its all-time high, recent price performance suggests this goal could be achieved within days. A breakthrough at this level could bring it within striking distance of $10,000 when viewed on a logarithmic chart…

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