Stablecoins, which plays an important role in Global Cryptocurrency Ecosystem, broke the amount of visa and master card in 2024 and combined.
According to the January 31 report of Crypto Exchange CEX.IO, the annual transfers were $ 27.6 trillion last year, and the combined visa and master card increased 7.7%.
Illia Otychenko, chief analyst in CEX.IO, said one of the main catalysts that amplify the stablecoin transfer volume was the increase in the use of the bot.
The world’s largest stabilization of the market cap, Tether’s USDT (USDT) accounted for 79.7%of the STABLECOIN trading volume on average, and strengthened its position as the stablecoin reservoir for the central response exchange soared.
Stablecoins won the Visa and Master Card despite the loss of market share in the market.
The STABLECOIN supply reached 1%of the US dollar supply in 2024, a rapid surge of 59%. CEX.IO pointed out that despite beating VISA and Mastercard, it lost 13.5%within the total market cap.
The decrease in market share occurred in the third quarter of 2024, when activities were reduced mainly in wider cryptographic markets.
2024 Stablecoin vs. Quantitative volume of Visa and Mastercard. source: CEX.IO
In terms of overall growth, CEX.IO’s Otychenko said:
“Stablecoins experienced the surge in supply and volume after the election of the encryption activity, and surpassed the Visa and Master Cards more than two or three times, respectively.”
Otychenko pointed out that it is a method of transmitting cost -effective value compared to the existing payment method, indicating that STABLECOINS is used more and more to send savings and remittances.
“But the role of Stablecoins as a life blood of encryption trading is much more important than this trend.”
The BOT activity accounted for 70%of the stablecoin transmission volume.
Trading bot activities accounted for a huge share of Stablecoin trading volume in 2024, and CEX.IO accounted for 70%. In Solana and Base, bot trading accounted for 98%of the volume.
Otychenko said, “The high bot activity in the network does not necessarily mean ‘worse volume’.
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The bot can be used for harmful practices such as leading, sandwich attacks, pump and dump systems and sniffing liquid pools. Nevertheless, Stablecoins’ bot dominance can also show the maturity of a particular network, he said.
Ether Leeum and Tron maintain dominance, but other networks build momentum.
Ether Leeum and Tron are the main networks of Stablecoins in 2024, and continued to dominate and accounted for more than 83% of the market by the end of the year.
At the same time, their combined market share fell from 90%at the beginning of the year, pointing out other networks, especially in Solana, Arbitrum, Base and APTOS.
Distribution of market cap by network. source: CEX.IO
The report said, “This change was especially noticeable about TRON, which has been significantly reduced from 38%to 29%.
Ether Lee’s Stablecoin market capitalization surged 65% in 2024, reaching a new all -time high. Otychenko said that this growth was partially led by the decrease in transaction fees after the Dencun upgrade in March and optimism after the US election, Otychenko said.
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