By one report From Crypto Exchange Cex.io, Stablecoin transfers reached $ 27.6 trillion in 2024, with an excess transaction volume from Visa and Mastercard with 7.68%.
The report pointed out that Stablecoins consistently exceeded all year round than traditional payment providers despite a dip in Q3 due to broader market delay.
This trend indicates a shift in global transfers, since legacy providers such as Western Union and Moneygram are struggling to adapt to a rising demand for digital assets.
The Stablecoin supply has expanded by 59% during this period, more than $ 200 billion. This growth pushed Stablecoins to represent 1% of the total supply of the US, a significant increase of 0.63% at the start of the year.
USDC leads when Solana gets dominance
Circle’s USDC emerged as the dominant Stablecoin for transactions on chains, accounting for 70% of the total transfer volume. However, its influence weakened somewhat in Q3 due to a temporary decrease in defi activity.
Tether’s USDT, the largest stablecoin per market capitalization, experienced considerable growth, with its total transfer volume more than doubling. Nevertheless, the market share fell from 43% to 25% last year.
Solana became the most active blockchain for Stablecoin transfers, with Tron and Ethereum in January 2024. The increase in Solana-based activity pushed the market share of USDC, with 73% of the Stablecoin delivery of the network that is linked to USDC transactions.
According to Cex.io:
“This increase was in line with the total ecosystem growth of Solana, because Stablecoins on the network were mainly used for Defi and other Dapp activities.”
Bots Fuel Stabilecoin Volume
CEX.IO pointed out that BOT-PROPERTED Handel played an important role last year in Stablecoin transactions, with automated systems responsible for 70% of the total volume.
According to the company’s research, bone-driven transactions were particularly dominant on Ethereum, Base and Solana.
The crypto exchange reported not -corrected transaction volumes -mainly reflective bone -activity -77% of all stablecoin transfers in 2024. This meant a quadruple increase compared to 2023, with base even overtaken Ethereum in Q4 Stablecoin volume as a result of the rise in automated trade.
It continued that not -corrected transactions were more than 98% of the total stablecoin activity in networks where USDC dominates, such as Solana and Base.
This increase was fed by the high transactions speeds of these networks, low costs, flowering defi -ecosystem and rapid proliferation of meme -tokens. In December alone, Memecoins accounted for 56% of the trade volume of Solana’s Decentralized Exchange (DEX).
Despite worries about bots that manipulate markets through frontunning and sandwich attacks, Cex.io noted that they also improve efficiency. These automated systems facilitate arbitration, perform recurring smart contract transactions and help cover the gas costs of users.
CEX.IO Added:
“As a result, Bot Dominance in Stablecoin transactions could also represent the maturation of certain networks.”
What for Stablecoins?
The stock market said that Stablecoins confirmed their role as essential liquidity sources in Defi, trade and cross -border payments in 2024. This trend is expected to exist in 2025, in particular in post-settlement cycles, which cause historically increased trading volume and capital flows.
The expansion of the delivery will probably also continue. The company noted that earlier market cycles showed that the growth of stablecoin goes beyond bullish phases, often continuing even in early decline. In 2022, for example, the STABLECOIN supply continued to rise until March – five months after the market peak. This suggests that demand can remain stable, even as weaker market conditions.
Another important development can mean a shift that goes beyond than by USDT dominated networks such as Tron. The report noted that USDT is confronted with growing competition and increased supervision of the regulations, which could erupt its market share and impact and cure the dominance of Tron in Stablecoin transactions.
In the meantime, the upcoming Pectra update from Ethereum, expected in March 2025, could strengthen the attraction of the network as a Stablecoin Hub. The upgrade is intended to improve scalability, lower gas costs and improve the user experience in Ethereum Layer 1 and Layer 2 networks.
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