This surge represents a five-year high for stablecoin usage. Monthly transactions numbered 110 million, slightly outpacing Visa and Mastercard by 0.41% and 0.72%, respectively. This trend indicates a growing preference for stablecoins over traditional credit card networks for fund transfers.
ARK Invest noted that
“despite a two-year bear market and a 70%+ decline in market capitalization, stablecoin growth has remained uninterrupted.”
The transaction value doubled from approximately $7 trillion in 2023 to $15.6 trillion in 2024, highlighting rapid adoption.
Blockchain networks played a crucial role in this growth. In December 2024, stablecoin transactions on these networks reached an all-time high, with daily volumes reaching $270 billion and a total monthly volume of $2.7 trillion. At that time, Tether (USDT) and Circle (USDC) were the leading stablecoin issuers based on market capitalization.
In 2024, Solana, Tron, Ethereum, and Base emerged as the leading contributors to stablecoin transaction volume. A report from CryptoQuant indicated that the total market capitalization of stablecoins reached an all-time high of $204 billion, representing a 22% increase since Donald Trump won the U.S. Presidential Election.
This report follows a CEX.IO survey, which revealed that automated trading bots accounted for 70% of stablecoin transactions in 2024. The study analyzed blockchain activity across Ethereum, Base, and Solana and found a fourfold increase in bot-driven transactions compared to 2023. Notably, 77% of the total stablecoin volume was categorized as unadjusted. USDC exhibited the most decisive influence from bots, making up over 65% of the unadjusted volume, while Coinbase’s Base network experienced the most significant impact.
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Tags: ARK investMastercardStablecoinVisa
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