According to a report from CEX.IO, stablecoin transfers reached $27.6 trillion in 2024, surpassing the combined transaction volume of Visa and Mastercard by 7.68%. Stablecoins consistently outperformed traditional payment providers throughout the year, signaling a shift in global remittances. The stablecoin supply expanded by 59% and now represents 1% of the total US dollar supply. Circle's USDC emerged as the dominant stablecoin for on-chain transactions, accounting for 70% of total transfer volume. Tether's USDT also experienced significant growth, but its market share declined. Solana became the most active blockchain for stablecoin transfers, overtaking Tron and Ethereum. Bot-driven trading played a significant role, with automated systems responsible for 70% of total volume. Unadjusted transaction volumes represented the majority of stablecoin transfers, particularly on networks where USDC dominates. Despite concerns about market manipulation, bots also improve efficiency. Stablecoins are expected to continue their role in DeFi and cross-border payments, with supply expansion likely to persist. There could also be a shift away from USDT-dominated networks and towards Ethereum with its upcoming Pectra update.



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