Stablecoins Dominate Transaction Volumes, Surpassing Traditional Payment Giants
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USDT and USDC now account for nearly 50% of the total transaction volume across major crypto assets, highlighting the growing importance of stablecoins in providing liquidity and market stability. USDT and USDC now represent nearly 50% of the total transaction volume among major crypto assets, underscoring the crucial role stablecoins play in providing liquidity and stability to the market. pic.twitter.com/iaqf17PtEL — IntoTheBlock (@intotheblock) October 18, 2024 In a notable shift, USDC has overtaken USDT for the first time in facilitating large money transfers, specifically transactions valued at $100,000 or more. Despite this, USDT still maintains a commanding lead in terms of market value, with approximately $120 billion compared to USDC’s $35 billion. However, when it comes to high-value transfers, Circle’s USDC has pulled ahead of Tether’s USDT. Just a year ago, USDC only held an 8% share in large-scale money transfers. Today, that figure has surged to 28.67%, while USDT’s dominance in this category has declined from 32% to 27%. The growing influence of U.S.-based players in the market is one factor contributing to USDC’s rise. Yüklü miktarda para(100K USD ve üzeri) transferinde USDC ilk kez USDT’Yi geride bıraktı. Stabil koin piyasasında USDT market değeri olarak halen açık ara farkla önde. Öyle ki USDT yaklaşık 120B market değerine sahipken, USDC yalnızca 35B piyasa değerine sahip. Ancak, yüklü para… pic.twitter.com/X8Cy3HLGxh — Burak Kesmeci (@burak_kesmeci) October 17, 2024 Stablecoins Recorded An Explosive $8.5 Trillion In Transaction In Q2 2024, stablecoins handled an impressive $8.5 trillion in transactions, significantly outpacing Visa’s $3.9 trillion. This underscores the ability of stablecoins to not only serve the volatile crypto markets but also compete with established payment systems like Visa and PayPal. In Q2 2024, stablecoins crushed the payment scene, handling a staggering $8.5 trillion in transactions—eclipsing Visa’s $3.9 trillion. These digital dynamos are challenging giants like…
Filed under: News - @ October 21, 2024 3:09 am