The stablecoin market saw record growth in 2024, with the total supply rising from around $130 billion at the beginning of the year to over $270 billion by the end. This increase reflects a significant shift towards using stablecoins as a fundamental pillar in the world of digital finance.
🔹 Dominance of major networks:
Ethereum (ETH) and Tron (TRX) together accounted for nearly 90% of the total market.
The Solana (SOL) network has solidified its position as the third-largest network with a share exceeding $10 billion in stablecoins.
🔹 Key players:
More than 96% of the market is controlled by 4 major entities:
✅ Tether (USDT) – the global leader.
✅ Circle (USDC) – the listed American company.
✅ Ethena – an innovative decentralized project.
✅ Sky – an independent decentralized organization.
🔹 The supremacy of the US dollar 💵:
Stablecoins pegged to the dollar (USD) continue to dominate the global scene, as no euro (EUR)-pegged stablecoin has made it to the list of the top 20 by supply, reinforcing the dollar's position as the benchmark digital currency.
⚡ Summary:
Stablecoins are no longer just a supportive tool for trading; they have become an essential element in:
✔️ Providing instant liquidity.
✔️ Facilitating transactions via blockchain.
✔️ Linking traditional finance with the digital economy.
The year 2024 may mark the true beginning of a new era that integrates traditional financial markets with blockchain economy on an unprecedented global scale.
#Stablecoins #CryptoNews #Blockchain #USDT #USDC #Ethereum #Solana #Tron
