Stablecoin

Token

Billion

<p>Stablecoin use has grown more than 16-fold in the last four years in the cryptocurrency market, and this is a promising indicator of the widespread adoption of cryptocurrencies.</p> 
<p>According to <a href="https://x.com/tokenterminal/status/1803361645592281155" target="_blank" rel="noreferrer noopener nofollow">Token Terminal data</a>, the monthly stablecoin transfer volume grew by over 16 times, from $100 billion in October 2020 to a record high of $1.68 trillion in April.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfRT03JzsTo129cXHaWDehXDn3tQsVRUSUjiWCyVHci4AeF1VpA23DFobw-pLD5y-3-cXbGy075772hs8t9kf9TETEqelGgVCfMsTFRXI3WhvE5YvUc-HXjabZt0-eNslS25Mg9-v_YJtNlJyPaQxrEzn4?key=5F2FvgX6NRWKySY-1pA7kg" alt="AD 4nXfRT03JzsTo129cXHaWDehXDn3tQsVRUSUjiWCyVHci4AeF1VpA23DFobw pLD5y 3 cXbGy075772hs8t9kf9TETEqelGgVCfMsTFRXI3WhvE5YvUc HXjabZt0 eNslS25Mg9 v YJtNlJyPaQxrEzn4?key=5F2FvgX6NRWKySY 1pA7kg">
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   Stablecoin Transfer Volume, Source: Token Terminal
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<p>Additionally, the <a href="https://defillama.com/stablecoins/chains" target="_blank" rel="noreferrer noopener nofollow">market value of stablecoins</a> surpassed $162 billion, a 24% rise since the beginning of the year, as per the data of DefiLlama. The cryptocurrency market and investor confidence are expected to benefit from this expansion.</p> 
<p>More than 31.2 million monthly active users completed more than 353 million transactions in the previous 30 days, as per the <a href="https://visaonchainanalytics.com/" target="_blank" rel="noreferrer noopener nofollow">data of Visa’s stablecoin</a> dashboard. The increasing number of active users supports the growth of stablecoin usage.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXd-iqtXrbSUZnRrjCbdb99uNkSyR5s16dPq0dWGrCT4joZgOPhg3fjN7f30gyMnr5Oem3AUU26229mclX74wsF9UWE6WxvsdW22s17NVV1srAGt2ww3KJq18HKmxZifT2NynBM164ft5MTyqUeMMBhmWa0?key=5F2FvgX6NRWKySY-1pA7kg" alt="AD 4nXd iqtXrbSUZnRrjCbdb99uNkSyR5s16dPq0dWGrCT4joZgOPhg3fjN7f30gyMnr5Oem3AUU26229mclX74wsF9UWE6WxvsdW22s17NVV1srAGt2ww3KJq18HKmxZifT2NynBM164ft5MTyqUeMMBhmWa0?key=5F2FvgX6NRWKySY 1pA7kg">
  <figcaption class="wp-element-caption">
   Key Stablecoin Metrics, Source: Visa
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<p>Stablecoin CEO Kilian Peter Krings highlights that stablecoins reduce risk and boost crypto adoption by offering a safe value storage alternative. He added that people’s confidence in the cryptocurrency market will increase and their worries about volatility will be lessened.</p> 
<p>Stablecoin transfer volume hit $1.28 trillion in March 2024, the first time it crossed the $1 trillion threshold. The CEO and co-founder of Transak, Sami Start, credits the interaction of tokenized real-world assets (RWAs) for this growth.</p> 
<p>Tether, the company behind the largest stablecoin in the world, accounted for $716 billion of the $1 trillion in trading volume in March. The company behind USD Coin, Circle, made a $358 billion donation. These stablecoins’ trading volumes demonstrate their market dominance and vital role in promoting stablecoin adoption.</p> 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 <p>Also Read: <a href="https://www.cryptotimes.io/2024/06/01/stablecoins-surpass-846-billion-in-on-chain-trading-volume/" target="_blank" rel="noreferrer noopener">Stablecoins Surpass $846 Billion in On-Chain Trading Volume</a></p> 
</blockquote>

Stablecoin Transfer Volume Surges 16x Since 2020

The Crypto Times

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