Ethereum dominates DeFi market again thanks to trading bots
Ethereum stablecoin volume hits record $480B as L1 regains market share
The Ethereum mainnet is experiencing a revival in 2025, with new data pointing to a sharp increase in stablecoin transactions and liquidity.
According to a June 4 report from CEX.io, Ethereum layer-1 processed 4.84 million stablecoin transfers in May, totaling $480 billion—its highest monthly volume to date, reports Cointelegraph.
Analysts link this resurgence to lower gas fees seen in early 2025, which have reversed the trend of capital flight to layer-2 solutions and alternative chains. Ethereum’s mainnet saw its stablecoin market cap grow 11% in 2025, taking back market share from L2s, whose combined stablecoin footprint fell by just 1%.
Bots reshape trading dynamics on Ethereum
Automated bots—long associated with controversial MEV strategies—are now being credited for contributing to market liquidity and efficiency, particularly in decentralized exchanges (DEXs). CEX.io highlighted that these bots helped elevate stablecoin swaps to the top of Ethereum’s DEX activity.
Stablecoin pairs represented 37% of DEX trading in April and 32% in May, suggesting a market shift toward payment-oriented utility over speculative altcoin trades. Circle’s USDC emerged as the most-traded token on Ethereum, underscoring the network’s shift toward stability and transactional use cases.
Ethereum eyes long-term role in DeFi infrastructure
This resurgence in L1 activity signals Ethereum’s potential to reassert itself as a settlement layer for DeFi, stablecoins, and automated trading infrastructure. The pivot from yield farming and altcoin speculation to stable, utility-driven applications suggests a maturing DeFi landscape. As long as Ethereum maintains a low-cost environment, analysts believe it can continue absorbing liquidity back from L2s and rivals. With stablecoin growth and bot efficiency now aligning with Ethereum’s core strengths, the mainnet appears poised to reclaim its dominance at the heart of decentralized finance.
Recently we wrote that Ethereum is seeing a bullish shift in market sentiment as major institutions pivot away from Bitcoin and begin accumulating ETH at scale.
