Yigit Taha OZTURK 
Ethereum is making a powerful return to the DeFi spotlight in 2025, thanks to the unexpected rise of automated bot activity and record-breaking stablecoin transfers.
Bots Drive $480B Stablecoin Volume on Ethereum
According to crypto platform CEX.io, 4.84 million stablecoin transfers occurred on Ethereum’s layer-1 network in May, pushing volume to a record $480 billion. The activity was largely automated, signaling a shift in how liquidity and utility are shaping the network.
Lead analyst Illia Otychenko linked the spike to reduced transaction fees in early 2025, reversing a trend of users and liquidity migrating to rival chains and layer-2 solutions. As a result, Ethereum’s mainnet saw an 11% rise in stablecoin market cap this year, while L2 networks saw only a 1% decline.
Stablecoins Shift DeFi Focus Toward Real Utility
Once criticized for MEV manipulation and sandwich attacks, bots are now credited for improving efficiency on Ethereum’s DEXs. In April, stablecoin swaps accounted for 37% of all DEX trades on Ethereum — 32% in May.
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The trend reflects a growing focus on real-world payments and stable value transfers. USDC, issued by Circle, became the most traded asset on the network — further signaling Ethereum’s shift toward being a stablecoin infrastructure layer.
Otychenko believes this isn’t a passing trend. “Speculative tokens come and go, but stablecoins stick because they solve real problems,” he said, pointing to the growing need for fast, borderless payments in emerging economies.
Challenges Remain for Ethereum’s Long-Term Lead
Despite its momentum, Ethereum faces key challenges — particularly liquidity fragmentation across layers. Otychenko emphasized that overcoming these hurdles is essential: “This isn’t just a technical issue. It’s what will decide whether Ethereum leads or lags in the next phase of adoption.”
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