TheCryptoUpdates
Cryptocurrency News

Crypto Wallet Users Hit Record 36 Million as Stablecoin Market Booms

Crypto Wallet Users Hit Record 36 Million as Stablecoin Market Booms
  • Crypto mobile wallets hit an all-time high of 36 million active users in Q4 2024, per a Coinbase report.
  • Stablecoin supply surged 18%, nearing $200 billion, while trading volume tripled to $30 trillion.
  • More users are engaging in DeFi, NFTs, and blockchain apps, signaling mainstream adoption.
  • Security concerns remain, with scams targeting unsuspecting crypto users.

The number of active crypto mobile wallet users hit a record-breaking 36 million in the final quarter of 2024, according to Coinbase’s latest report. This surge reflects a growing shift in how people use cryptocurrency—not just as a long-term investment, but as an everyday financial tool.

Gone are the days when most crypto holders simply bought Bitcoin and held onto it. Now, more users are diving into decentralized finance (DeFi), trading NFTs, and exploring blockchain applications.

The rise in mobile wallets is part of a broader mainstream adoption trend. A separate Triple-A report estimates that 560 million people worldwide now own some form of cryptocurrency, with 6.8% of the global population participating in the crypto economy.

Stablecoins Are Also Seeing Explosive Growth

Crypto adoption isn’t just about wallets—stablecoins are becoming a major force in the market.

According to Coinbase’s report, stablecoin supply grew by 18% in Q4 2024, nearing $200 billion by year’s end. Stablecoin trading volume also skyrocketed, reaching $30 trillion for the year—a more than threefold increase.

In December alone, stablecoin transactions hit $5 trillion, right as Bitcoin crossed the $100,000 mark for the first time.

Security Risks Still a Major Concern

While more people are using crypto wallets and stablecoins, security threats remain a big issue.

A recent scam involving fake XRP wallets linked to the U.S. Treasury tricked unsuspecting investors into sending their funds to fraudulent accounts.

As crypto adoption grows, so do scams. Users are urged to stay vigilant, verify wallet addresses, and avoid clicking on suspicious links or offers that seem too good to be true.

What’s Next for Crypto in 2025?

With crypto adoption at an all-time high, experts believe stablecoins will play an even bigger role in the global economy moving forward.

Binance CEO Richard Teng and Hashed CEO Simon Kim both predict that stablecoins will be one of the biggest trends in 2025, especially as more businesses and financial institutions look to integrate them.

https://x.com/MarkusAyodele/status/1866451251350925552 

Circle’s Chief Business Officer, Kash Razzaghi, highlighted how stablecoins are already reshaping economies with high inflation, helping businesses manage cross-border payments and providing an alternative to unstable local currencies.

“The stage has now been set for broader adoption of stablecoins in remittances, digital capital markets, and financial services for the unbanked or underbanked,” Coinbase’s report added.

With regulatory clarity improving, and adoption continuing to rise, 2025 could be the year crypto truly goes mainstream.

Related Articles

Three Cryptocurrency Related Scams Shut Down by Texas Regulators

Kesarwani

Cryptocurrency News | TradingView launches App for Android Devices

Kesarwani

Telegram Meme Coins Like SUN and DOGS Take Attention from Solana

Timm
Desktop Banner
Mobile Banner