According to a Cex.io Crypto Crypto report, stablecoin transfers reached $ 27.6 billions of dollars in 2024, exceeding the visa and the combined mastercard transaction volume of 7.68%.
The report pointed out that stablecoins systematically surpassed traditional payment providers throughout the year despite a drop in the third quarter due to broader market slowdowns.
This trend indicates a change in global funds, as inheritance suppliers like Western Union and Moneygram are struggling to adapt to an increasing demand for digital assets.
Stablecoin’s offer increased by 59% during this period, exceeding $ 200 billion. This growth pushed stablecoins to represent 1% of the total supply of the US dollar, a significant increase of 0.63% at the start of the year.
The USDC leads as Solana wins domination
The Circle USDC emerged as the dominant stable for chain transactions, representing 70% of the total transfer volume. However, its influence has slightly weakened in Q3 due to a temporary drop in DEFI activity.
The USDT of Tether, the largest stablecoin by market capitalization, has experienced substantial growth, with its total transfer volume more than to double. Despite this, its market share increased from 43% to 25% last year.
Solana became the most active blockchain for stablecoin transfers, exceeding Tron and Ethereum in January 2024. The Solana -based activity wave propelled the USDC market share, with 73% of the offer of Stablecoin of the network linked to USDC transactions.
According to Cex.io:
“This increase is aligned with the overall growth of the Solana ecosystem, as stabbed on the network were mainly used for DEFI activities and other DAPP activities.”
Fuel bot stable volume
Cex.io stressed that Bot -based trading played an important role in stablecoin transactions last year, with automated systems responsible for 70% of the total volume.
According to the company’s research, the businesses focused on the bots were particularly dominant on Ethereum, Base and Solana.
Crypto exchange reported that the non -adjusted transaction volumes – reflecting the BOT activity, representing 77% of all stable transfers in 2024.
He continued that non -adjusted transactions represented more than 98% of the total stabing activity in networks where the USDC dominates, such as Solana and Base.
This wave was fueled by the high transaction speeds of these networks, low costs, booming challenge ecosystem and rapidly proliferation of tokens. In December alone, Memecoins represented 56% of the volume of negotiation for decentralized Solana (DEX) exchanges.
Despite the concerns about bots manipulating markets by the pioneer and sandwich attacks, Cex.io noted that they also improved efficiency. These automated systems facilitate arbitration, perform recurrent intelligent contract transactions and help cover user gas costs.
Cex.io added:
“Consequently, the domination of the bots in stablecoin transactions could also represent the maturation of certain networks.”
What is the following for Stablecoins?
The exchange said that sparks cemented their role of essential liquidity sources in the DEFI, negotiated and cross-border payments in 2024. This trend should persist in 2025, in particular in post-launching cycles, which historically triggers the volume commercial and capital flows.
The expansion of the food is also likely to continue. The company noted that previous market cycles have shown that the growth of stablescoin extends beyond the bullish phases, often persisting even during early slowdowns. For example, in 2022, the Stablecoin supply continued to increase until March – five months after the market peak. This suggests that demand could remain stable even if wider market conditions are weakening.
Another key development could involve a change beyond the networks dominated by the USDT as a tron. The report noted that the USDT faces growing competition and increased regulatory examination, which could erode its market share and have an impact on the domination of Tron in Stablecoin transactions.
Meanwhile, the next Pectra d’Ethereum update, expected in March 2025, could strengthen the attraction of the network as a Stablecoin center. The upgrade aims to improve scalability, reduce gas costs and improve the user experience on Ethereum Layer 1 and Layer 2 networks.
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