According to Token Terminal, stablecoin issuers generated around $5 billion in revenue from Ethereum deployments in 2025, highlighting Ethereum’s central role as the primary profit engine for stablecoin infrastructure.
Despite competition from other chains, Ethereum continues to capture the highest‑value activity.
Stablecoins are increasingly the backbone of on‑chain finance—and Ethereum is where they earn the most.
Token Terminal’s estimate of ~$5B in stablecoin issuer revenue from Ethereum in 2025 underscores Ethereum’s dominance in high‑value on‑chain finance. As stablecoin adoption scales globally, Ethereum remains the core layer where that value is created and monetized.


Wormhole’s native token has had a tough time since launch, debuting at $1.66 before dropping significantly despite the general crypto market’s bull cycle. Wormhole, an interoperability protocol facilitating asset transfers between blockchains, announced updated tokenomics to its native Wormhole (W) token, including a token reserve and more yield for stakers. The changes could affect the protocol’s governance, as staked Wormhole tokens allocate voting power to delegates.According to a Wednesday announcement, three main changes are coming to the Wormhole token: a W reserve funded with protocol fees and revenue, a 4% base yield for staking with higher rewards for active ecosystem participants, and a change from bulk unlocks to biweekly unlocks.“The goal of Wormhole Contributors is to significantly expand the asset transfer and messaging volume that Wormhole facilitates over the next 1-2 years,” the protocol said. According to Wormhole, more tokens will be locked as adoption takes place and revenue filters back to the company.Read more
