Stablecoin Growth May Propel Next Crypto Rally
- The total market capitalization of stablecoins reached a record $204 billion, up $37 billion since November 4, 2024.
- USDT deposits on centralized exchanges increased by 41%, from $30.5 billion to $43 billion.
- In 2024, stablecoin transfer volume exceeded Visa and Mastercard’s combined transactions by over 7.68%.
- Total stablecoin transfer volume for the year was $27.6 trillion, surpassing Visa and Mastercard’s $23.8 trillion.
- 70% of stablecoin transaction volume in 2024 was driven by bot activity, with Solana and Base networks showing high bot usage.
The expansion of stablecoins is seen as a potential catalyst for the next cryptocurrency rally, with their total market cap reaching an all-time high and transfer volumes surpassing major payment networks in 2024.
Source (2.6)https://www.theblock.co/post/338214/stablecoin-expansion-could-drive-the-next-cryptocurrency-rally-cryptoquant
