Ethereum's stablecoin trading activity has reached unprecedented levels, with the average number of unique senders surpassing 1 million per week in recent weeks. This marks a significant increase from the 2025 average of 720,000 weekly senders, reflecting a broader trend of exponential growth over the past year. The rise is attributed to the increasing adoption of stablecoins, particularly in regions experiencing foreign exchange volatility or capital controls, where they serve as a viable alternative to the US dollar. The surge in stablecoin usage is also fueled by their application in settling perpetual swaps, prediction markets, and real-world asset transactions, which has led to the creation of new addresses. As a primary Layer 1 settlement platform, Ethereum continues to attract new users, further boosting the number of stablecoin senders on its network.