Ethereum’s mainnet is reclaiming its dominance in decentralized finance (DeFi), fueled by a resurgence in bot-driven trading and a spike in stablecoin activity.
According to a June 4 report by crypto trading platform CEX.io, Ethereum’s layer-1 network processed 4.84 million stablecoin transactions in May, automated mainly through trading bots. The total transaction volume hit an all-time high of $480 billion, underscoring the network’s rebound as a hub for DeFi.
Illia Otychenko, lead analyst at CEX.io, attributed the surge to significantly reduced gas fees in early 2025. The cost drop helped attract users and liquidity back from rival blockchains and Ethereum’s layer-2 (L2) solutions, reversing a years-long trend of outflow from the mainnet.
As a result, Ethereum’s mainnet stablecoin market cap climbed by 11% in 2025, reclaiming ground from L2 networks. While L2s experienced only a marginal 1% decline, the shift highlighted a growing preference for conducting large, automated transactions directly on Ethereum’s base layer.
Trading bots—once heavily criticized for engaging in maximum extractable value (MEV) strategies and sandwich attacks—are now being credited for enhancing liquidity and transactional efficiency across Ethereum’s decentralized exchanges (DEXs). CEX.io noted that stablecoin swaps, driven by these bots, became the dominant category of DEX trades for the first time, representing 37% of DEX volume in April and 32% in May.
Additionally, a February survey by Cex.io noted that automated trading bots accounted for 70% of stablecoin transaction volume in 2024.
The changing landscape also spotlighted Circle’s USDC, which emerged as the most-traded asset on Ethereum in recent months. Analysts say this pivot toward stablecoins and payment-centric activity signals a shift in DeFi priorities—from speculative assets to reliable financial infrastructure.
If Ethereum maintains its low-fee environment, experts believe the mainnet could solidify its role as a primary settlement layer for stablecoins, algorithmic bots, and DeFi protocols, marking a significant evolution in its utility and long-term value proposition.
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