According to Crypto Exchange Cex.io reports, StableCoin transfer reached $ 27.6 trillion in 2024, exceeding the total transaction volume of Visa and MasterCard by 7.68 %.。
The report pointed out that StableCoins had a large market deceleration, and was consistently exceeded the conventional payment provider throughout the year, despite the DIP in the third quarter.
This trend shows changes in global remittances because legacy providers such as Western unions and money grams are suffering from adapting to the increase in digital assets.
StableCoin's supply increased by 59 % during this period, exceeding $ 200 billion. With this growth, stubcoins accounted for a total of 1 % of US dollars, which significantly increased from 0.63 % of the year.
USDC leads as Solana gains control
Circle USDC appeared as a dominant stubcoin for on -ene transactions, accounting for 70 % of the total transfer capacity. However, the temporary decrease in Defi activities has slightly weakened in Q3.
The USDT of Tether, the largest stubcoin in market capitalization, has experienced significant growth and has doubled the total movement. Nevertheless, its market share decreased from 43 % last year to 25 %.
SOLANA became the most active blockchain of StableCoin transfer in January 2024, overtaking Tron and Ethereum. The rapid increase in Solana -based activities promotes USDC market share, and 73 % of the network StableCoin Supply has been linked to USDC transactions.
According to CEX.IO:
“This increase is consistent with the growth of Solana's overall ecosystem because stubcoin on the network was mainly used in Defi and other DApp activities.”
Bot fuel StableCoin Volume
CEX.IO pointed out that bot -driven transactions played an important role in StableCoin transactions last year and played an important role in automatic systems in charge of 70 % of the total volume.
According to the company's survey, bot -led transactions were particularly dominant in Ethereum, base, and Solana.
Crypto Exchange reported that the unrevoment transaction (mainly reflecting bot activities) represented 77 % of StableCoin transfer in 2024. This showed four times the increase from 2023.
Unconducted transactions have continued to exceed 98 % of total security activities in networks dominated by USDCs such as Solana and Base.
This surge was promoted by these high transaction speeds, low cost, rapid rebellion systems, and the rapid growth of Meam token. In December alone, Memecoins accounted for 56 % of SOLANA's distributed (DEX) transaction volume.
Despite concerns about bots that operate the market through FrontRunning and sandwich attacks, CEX.IO pointed out that they also improve efficiency. These automated systems can promote the ruling, execute repeated smart contract transactions, and cover user gas rates.
CEX.IO addition:
“As a result, the control of the bot in StableCoin transactions can also represent the maturity of a specific network.”
What is next to StableCoins?
Exchanges stated that StableCoins has solidified as an essential fluid source for DEFI, transactions, and borders payments in 2024. This tendency is expected to last in 2025 in the after -harvest cycle, which historically increases the flow of transactions and capital.
Supply expansion may continue. The company stated that the previous market cycle has stated that stubcoin growth has grown beyond the bullish stage, and is often sustaining early recession. For example, in 2022, StableCoin Supply continued to rise until March. This is 5 months after the peak of the market. This suggests that demand remains stable, even if the wider market conditions are weakened.
Another important development includes a shift beyond the network dominated by USDT like Tron. The report focuses that the USDT is facing the increase in competition and the increase in regulations, which may eroded market share and affect the rule of Tron in StableCoin transactions.
On the other hand, the future Pectra update of EtherEum, which is expected to be in March 2025, may enhance the appeal of the network as StableCoin Hub. The upgrade aims to improve scalability, reduce gas rates, and improve user experience through Ethereum Layer 1 and Layer 2 Network as a whole.
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