Over the past four years, the volume of stablecoin transactions increased more than 16 times. In April 2024, the figure reached a record $1.68 trillion. In the next decade, stablecoins are expected to account for 10% of the total money supply.
According to Token Terminal, in March 2024, users made $1.27 trillion worth of transactions with stablecoins, surpassing the $1 trillion mark for the first time. And in April of this year, the total volume of transfers with stablecoins reached a record $1.68 trillion.
This figure is 16 times higher than the activity of stablecoin usage four years ago. In October 2020, transactions worth about $100 billion were made with stablecoins. DefiLlama also reported that the total market cap of all stablecoins increased by 24% to $162 billion in 2024. Analysts believe this indicates a surge in investor confidence in stablecoins.
Visa’s data also highlights the popularity of stablecoins, showing that over 31.2 million monthly active users (MAU) made more than 353 million transactions using stablecoins in the past 30 days.
Jeremy Allaire, CEO of USDC issuer Circle, shared that stablecoins will increase significantly in the economy over the next decade since they became a bridge between the traditional financial system and cryptocurrencies. He believes that by 2034, about 10% of the total money supply could be made up of stablecoins. According to Allaire, most of the world’s largest payment companies are actively using stablecoins and exploring ways to expand their application. He also noted that the benefits of this asset class are getting more and more evident to both TradFi participants and financial regulators.
The CEO of Circle said that the stablecoin market will grow at an average annual rate of 47.7% over the next ten years. This will also positively impact the level of general crypto adoption. Allaire predicts growth both in the number of crypto users and use cases.
Users often view stablecoins as tools for the safe storage of funds and risk hedging. The main catalysts for the growing popularity of stablecoins are the growth of the tokenized real-world asset (RWA) market and regulatory clarity regarding their use.
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