Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
In the last four years, the volume of stablecoin transactions has surged over 16 times. By April 2024, this figure reached an unprecedented $1.68 trillion. Over the next decade, stablecoins are projected to represent 10% of the overall money supply.
As reported by Token Terminal, in March 2024, users conducted transactions totaling $1.27 trillion with stablecoins, exceeding the $1 trillion threshold for the first time. Furthermore, in April of this year, the cumulative volume of stablecoin transfers hit a record $1.68 trillion.
This amount is 16 times greater than the stablecoin activity recorded four years prior. In October 2020, transactions involving stablecoins amounted to approximately $100 billion. DefiLlama also indicated that the overall market capitalization of all stablecoins rose by 24% to $162 billion in 2024. Analysts interpret this as a sign of increasing investor confidence in stablecoins.
Related Posts
Data from Visa further emphasizes the growing adoption of stablecoins, revealing that over 31.2 million monthly active users (MAU) executed more than 353 million transactions using stablecoins in the last 30 days.
Jeremy Allaire, CEO of USDC issuer Circle, stated that stablecoins are expected to play a significant role in the economy over the next decade, as they serve as a link between traditional finance and cryptocurrencies. He anticipates that by 2034, stablecoins could constitute around 10% of the total money supply. Allaire noted that many of the largest payment companies globally are actively utilizing stablecoins and investigating ways to broaden their applications. He also remarked that the advantages of this asset class are becoming increasingly clear to both traditional finance participants and financial regulators.
The Circle CEO projected that the stablecoin market will expand at an average annual rate of 47.7% over the next ten years, which will also positively influence the overall adoption of cryptocurrencies. Allaire foresees growth in both the number of cryptocurrency users and the variety of use cases.
Users frequently regard stablecoins as instruments for secure fund storage and risk management. The primary drivers behind the rising popularity of stablecoins include the expansion of the tokenized real-world asset (RWA) market and enhanced regulatory clarity regarding their utilization.
Сообщение Stablecoin Usage Hits Record $1.68 Trillion per Month появились сначала на CoinsPaid Media.
