Stablecoin Transfer Volume Jumps 16x Over Four Years

Key Takeaways

1. Big Increase in Stablecoin Transfer Volume: Reached $1.68 trillion in April 2024, up from $100 billion in October 2020.
2. Market Cap Growth: Grew to $162 billion in 2024, a 24% rise since January 1.
3. High User Activity: Over 31.1 million active users made 353 million transactions last month.
4. $1 Trillion Milestone: Transfer volumes went over $1 trillion in March 2024, reaching $1.27 trillion.
5. Leading Issuers: Tether (USDT) led with $716 billion; USD Coin (USDC) followed with $358 billion.

YEREVAN (CoinChapter.com) — Stablecoin transfer volume has surged over the past four years, indicating growing crypto adoption. This metric is seen as a key indicator of the maturing cryptocurrency industry. In April 2024, stablecoin transfer volume hit a record $1.68 trillion, according to Token Terminal data. This is a significant increase from $100 billion in October 2020, marking a 16-fold rise.

Stablecoins act as a bridge between traditional finance and digital assets. They are often used to assess the crypto market’s health and investor confidence. A rising stablecoin market cap typically indicates stronger investor conviction and more capital entering the market.

Stablecoin Market Cap Hits $162 Billion with 31 Million Active Users

The cumulative market capitalization of all stablecoins has climbed to over $162 billion. This is a 24% increase year-to-date, up from $130 billion on January 1, according to DefiLlama.

Visa’s stablecoin dashboard reveals that there were over 31.1 million total monthly active stablecoin users. These users made more than 353 million transactions in the past 30 days.

Kilian Peter Krings, CEO of Solana-based liquidity platform Stabble, remarked,

“Stablecoins are the best tool to store value safely. They provide stability for individuals and crypto firms in portfolio management. This helps mitigate risk and fosters broader crypto adoption by reducing volatility fears.”

Stablecoin Transfers Surpass $1 Trillion in March 2024

March 2024 saw cumulative stablecoin transfer volumes surpass $1 trillion for the first time, reaching $1.27 trillion across all issuers. Token Terminal data attributes this milestone to the increasing use of tokenized real-world assets (RWAs).

Sami Start, co-founder and CEO of Transak, noted,

“People are now using stablecoins to purchase properties, secure loans, and facilitate borderless transactions. This democratizes access to wealth, allowing anyone, anywhere, to participate in global financial markets.”

Tether (USDT), the largest stablecoin issuer, accounted for $716 billion trading volume. Circle’s USD Coin (USDC) followed with $358 billion.