According to ARK Invest, stablecoin transaction volume reached $15.6 trillion in 2024, exceeding Visa's by 119%.
Stablecoins Outpace Traditional Payment Networks
Today, stablecoins have ushered in a new era where they handle transaction volumes exceeding Visa and Mastercard together in 2024. The rise of stablecoin transaction volumes indicates a user preference for digital assets with stable value for payments and settlements.
USDT Dominates on Tron Network
In 2024, the Tron Network became a notable blockchain for stablecoins due to its cost efficiency and wide adoption. Volumes of USDT transactions on Tron reached $5.46 trillion, showing its significance in countries with unstable fiat currencies due to low fees.
USDT and USDC Maintain Market Dominance
USDT and USDC accounted for 90% of transaction volumes in 2024. The gradual shift of stablecoins across multiple blockchains has become a significant element of digital finance.
Stablecoins continue to increase their importance in global finance, playing significant roles in transactions and in holding large positions in US government debt.
