- Stablecoin transfer volume hit $1.68 trillion in April, a 16x surge from $100 billion in October 2020.
- Stablecoin market value exceeds $162 billion, up 24% in 2024, reflecting growing investor confidence.
- Over 31.1 million active stablecoin users made 353 million transactions in the last 30 days
The use of stablecoins in the cryptocurrency market has significantly increased, with transfer volumes reaching a historic peak of $1.68 trillion in April, a 16-fold increase from $100 billion in October 2020, according to Token Terminal data.
Read CRYPTONEWSLAND on
google news
Stablecoins are vital for connecting traditional finance with digital assets, with their market value exceeding $162 billion, a 24% growth since the start of the year, according to DefiLlama. This growth is seen as a positive sign for the cryptocurrency market and investor confidence.
Growing User Base and Market Confidence
The surge in stablecoin usage is also evident in the growing number of active users. According to Visa’s stablecoin dashboard, over 31.1 million monthly active users executed more than 353 million transactions in the past 30 days. This growing adoption is a promising sign for the maturing crypto industry.
Kilian Peter Krings, CEO of Stabble, a Solana-based liquidity and trading platform, highlights the importance of stablecoins in mitigating risk and encouraging broader crypto adoption. He notes that stablecoins provide a safe value storage option, reducing users’ fears of volatility and promoting confidence in the crypto market.
Real-World Asset Integration Boosts Volume
In March 2024, stablecoin transfer volume first exceeded the $1 trillion mark, reaching $1.27 trillion. This growth reflects increasing trust in stablecoins and their expanding use cases. Sami Start, co-founder and CEO of Transak, attributes this rise to the integration of tokenized real-world assets (RWAs).
Stablecoins are increasingly used for property purchases, loans, and global transactions, making wealth access more democratic and allowing global participation in financial markets. Their increasing importance demonstrates how they could enhance economic inclusivity and revolutionise traditional finance.
In March, Tether, the creator of the biggest stablecoin globally, represented $716 billion out of the total trading volume of $1 trillion. Circle, the issuer of USD Coin, contributed $358 billion. The trading volumes of these stablecoins highlight their dominance in the market and their critical role in driving stablecoin adoption.
Read Also:
disclaimer read moreCrypto News Land (cryptonewsland.com)
