The Stablecoins experienced their most active quarter ever recorded in the third quarter of 2025, with volumes reaching historical heights. However, a new report reveals that a large part of this activity came from automated boots rather than individual users. At the same time, small transfers for daily use have climbed at record levels, confirming the double role of stablecoins: trading and average payment tool.
In short
- The bots generated 71 % of stable -co -transfers, fueling a record activity of $ 15,600 MD at T3 2025.
- The transactions carried out by real users have also increased, confirming the rise of stablecoins in payments.
- Detail transfers less than $ 250 have reached a historic record, supported by trading and funding.
- USDT and USDC dominated incoming flows, bringing market capitalization to $ 292.6 MD in the quarter.
More than 70 % of transfers linked to bots, according to Cex.io
Much of the growth observed in the third quarter on stablecoins was fed by automated trading boots. According to a study by CEX.IO, more than 70 % of stable -coxins came from non -human activities, highlighting the need to distinguish speculative flows from real adoption.
The report indicates that Stablecoins transfers reached an absolute record of $ 15,600 billionmarking the most dynamic quarter ever observed. According to Illya Otychenko, analyst at Cex.io, this is the most intense period in the history of Stablecoins.
The analysis shows that automated trading bots represented 71 % of transfers, compared to 20 % for human transactions. The remaining 9 % came from intelligent contract operations and internal movements to exchanges.
Regulators question the systemic risks
Otychenko believes that this distinction between automated activity and real use will be essential for political regulators and decision -makers. The figure of 71 % includes both high frequency trading and certain handling practices, such as Wash Trading. A large part of these bots remain unidentified, making more than 1,000 transfers per month and moving more than $ 10 million.
He specifies that the MEV boots (extractable maximum value) and those active on decentralized finance protocols (DEFI) represent less than half of the total Stablecoins activity.
This shows that even if the bots stimulate liquidity and activity, a significant part of these exchanges does not necessarily correspond to real economic use.
Illya Otychenko
The progression of the Stablecoins market is also explained by the recent adoption of the Genius law, which provides greater regulatory clarity to the assets backed by the Fiat. According to the latest data, the total capitalization of the stablecoins now reaches 292.62 billion dollars.
Detail transfers reach a historic record in 2025
Despite the domination of bots, the report highlights a sharp increase in small transfers, amounting to $ 250. This category reached record levels in September, and throughout the third quarter, placing 2025 as the most active year ever recorded for the use of small -scale stablecoins.
The report provides that these transfers will exceed $ 60 billion by the end of the year. Trading remains the main engine (88 % of movements under $ 250), but an increasing share is linked to sending funds, payments, and conversions to Fiat.
Cex.io notes that transactions off trading have increased by more than 15 % this year, a sign of an increasing adoption of stablecoins in daily payments. These trends confirm their growing role in payments, funds and exchange in foreign currency.
USDT and USDC dominate the starters of the quarter
Beyond the increase in transactions volumes, the stablecoins backed by the Fiat also recorded a strong increase in net flows, that is to say the difference between tokens issued and bought, during the third quarter. According to Rwa.xyz data, the sector has recorded more than $ 46 billion in net entries over the period.
The USDT (TETHER) dominates the quarter with nearly $ 20 billion in entries, confirming its market leader in the market. The USDC (Circle) follows with $ 12.3 billion, while the Synthetic Stablecoin Ethena Usde completes the podium with $ 9 billion in new incoming flows.
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