DWF 2024 Market Data Review: Total Market Value Exceeds 3.7 Trillion USD, Stablecoin Supply Reaches a New High of 187.5 Billion

author:DWF Ventures

Compiled by: Xiaobai Navigation Coderworld

In 2024, it will becomecryptocurrencyKey milestones in development - From active participation of institutional investors to significant growth in on-chain activity, this year has demonstrated important progress in the industry.

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Here is a review of the year’s statistics:

Growth to continue in 2023

The market has rebounded strongly this year, with the total market capitalization breaking the 2021 all-time high (ATH) and reaching US$3.7 trillion.

In addition to the significant increase in liquidity, the number of users and trading volume are also growing in tandem - data that indicates the healthy development of the market and the increase in actual usage.

ETFs and the influx of institutional money

One of the biggest market drivers in 2024 is the launch of the Bitcoin ETF in January and the Ethereum ETF in July. These financial products not only lower the threshold for investors to enter the crypto market, but also reflect the rapid growth of traditional investors' demand for crypto assets.

It is estimated that the total on-chain holdings of Bitcoin ETFs have grown to 1.1 million BTC, doubling from the beginning of the year.

Not only companies in the crypto space, but many traditional companies are also increasing their investments in Bitcoin and other crypto assets. For example, Saylor led @MicroStrategy It continues to increase its holdings of Bitcoin, and its current holdings have reached 439,000 BTC.

The potential of stablecoins

Stablecoins arecryptocurrencyCore tools of the ecosystem, they not only enable rapid exchange between assets, but are also seen as important indicators of new capital inflows.

In 2024, the total supply of stablecoins reached $187.5 billion, a record high. At the same time, the number and volume of stablecoin transactions increased by 30%-40% respectively.

It is worth mentioning that even in the face of market fluctuations, the trading volume of stablecoins remains at a high level - this shows that stablecoins have important practical application scenarios beyond trading.

In terms of on-chain stablecoin transaction volume,@trondao,@ethereum,@BNBCHAIN and @solana continues to dominate. @arbitrum and @base Such L2 The network also showed strong momentum in USDC's transaction volume and user growth.

Despite the current centralizationexchange CEX trading activity still leads decentralized exchangesexchange (DEX), but this landscape is changing.

@BlackRock and @ethena_labs The recently launched USDtb product provides a platform for traditional funds to enter DeFi.SafetyWith the emergence of these regulated on-ramps, we may see more funds flowing into the on-chain ecosystem in the future.

The rise of the stablecoin market in Latin America and Africa

In the past year, the stablecoin market in Latin America and Africa has grown by 40%-50%. These regions have a strong demand for currency hedging tools that do not require third-party trust, so the stablecoin market has developed rapidly here.

More and more resources are pouring into these areas, e.g. @Tether_to educational programs launched, and @circle Expansion plans for payment services in Latin America. Therefore, we expect this segment to continue to grow strongly through 2025.

Trends in on-chain activity

L2 Network (such as @base,@arbitrum and @Optimism) and non-EVM chains @solana It has performed well in the net capital inflow this year. Users prefer to choose lower transaction fees and faster speeds.Blockchainnetwork, these chains thus attract more users.

The fastest growing sector is sustainablecontractand decentralizationexchange (DEX). The trading volume in these two areas increased by more than 150%, and the total locked volume (TVL) also increased by 2-3 times. @pumpdotfun The memecoin craze has greatly boosted the trading volume.@RaydiumProtocol It has become one of the main beneficiaries, while also driving the development of other ecosystems. In addition, this trend has also given rise to trading robots (such as @tradewithPhoton and @bonkbot_io) are widely used. These robots are not only used frequently, but have also become one of the protocols with the highest fee income in the current crypto industry.

Despite this, there is still huge potential for growth in on-chain activity. Currently, there are only 5%-10%cryptocurrencyHolders are actively participating in on-chain operations, which means there is a large untapped user base.

Mobile-friendly interfaces (such as TON’s mini-app) have already achieved significant results in terms of user growth. For example,@ton_blockchain The mini-app has successfully attracted more than 50 million users. Therefore, the future development of the protocol will increasingly rely on mechanisms to optimize the user experience (UX) and improve user retention.

The article comes from the Internet:DWF 2024 Market Data Review: Total Market Value Exceeds 3.7 Trillion USD, Stablecoin Supply Reaches a New High of 187.5 Billion

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