Artemis Analytics has released a report detailing the current landscape of Ethereum stablecoin usage, revealing significant institutional involvement. As of December 21, 2025, the report indicates that 47% of stablecoin transfers are conducted through externally owned accounts (EOAs), with 35% of these transactions excluding internal institutional activities. Notably, the top 1,000 institutional wallets account for 84% of the total transaction value. The study also highlights that stablecoin transactions are nearly evenly split between peer-to-peer (P2P) and decentralized finance (DeFi) applications. This suggests a broadening of stablecoin use cases beyond DeFi, indicating a growing role in general payment scenarios. The findings underscore the expanding influence of institutional players in the Ethereum stablecoin ecosystem.