The full quantity of stablecoin transactions in 2024 reached $27.6 trillion, surpassing the mixed switch quantity of Visa and Mastercard by 7.68%.
Stablecoins grew to become one of many key sectors within the cryptocurrency trade, performing as a significant driver of crypto adoption. This was highlighted by CEX.IO analysts in a report summarizing the outcomes of a complete evaluation of adjustments within the stablecoin sector noticed in 2024.
The report presents a number of key figures:
- the entire buying and selling quantity of crypto pairs involving stablecoins exceeded $25.8 trillion and continues to develop;
- the typical each day buying and selling quantity of stablecoins elevated by greater than 237% over the yr;
- USDT accounted for a median of 79.7% of the entire stablecoin buying and selling quantity;
- the entire provide of stablecoins grew by over 59%, reaching 1% of the entire U.S. greenback issuance;
- the share of Ethereum and Tron as stablecoin issuance networks declined from 90% to 83%, with Base, Solana, Arbitrum, and Aptos rising as main opponents;
- roughly 70% of all stablecoin transaction quantity was attributed to buying and selling bots, with this determine reaching 98% on Solana and Base.
One of many key conclusions from the report is that stablecoins are more and more getting used for financial savings and monetary transactions on account of their price effectivity in comparison with conventional fee strategies. Nonetheless, their main position stays in crypto buying and selling and decentralized finance (DeFi).
Furthermore, the report highlights the expansion of yield-bearing stablecoins, which accounted for about 3% of the entire stablecoin market by the top of 2024. These belongings had been additionally a significant factor behind the 414% enhance available in the market cap of tokenized treasury bonds. The affect of tokenization and stablecoins on the rising demand for short-term authorities bonds was even mentioned at a U.S. Treasury Division assembly.
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