Visa study shows only 10% of stablecoin transactions are real users

Visa study shows only 10% of stablecoin transactions are real users
фото показано с : invezz.com

2024-5-6 15:56

While stablecoin adoption has been on an upward trajectory, a new study by payments giant Visa and blockchain data platform Allium Labs, suggests that only 10% may be from real people.

Over 90% of stablecoin transaction volume not by real users

Per the details in a new report, only $149 billion of the staggering $2.2 trillion stablecoin transaction volume in April was organic. That’s about 10% of the monthly volume.

The rest, over 90% of the total transaction volume during the month, was down to bots and large-scale trading activity. Details of the study come only a few days after Allium Labs and Visa collaborated to launch an onchain analytics dashboard.

According to details on the Visa Onchain Analytics Dashboard, total stablecoin transaction volume across public blockchains in the past 30 days currently stands at $2.4 trillion.

There’s been over 337 million transactions involving stablecoins in the period.

Stablecoin growth

Visa’s study results, shared in a report Bloomberg published on Monday, challenges the longstanding claim that stablecoin are revolutionizing the payments industry. In most cases, growth for top stablecoins Tether (USDT) and USDC, which dominate the market with over 97% of total market share, have pointed towards this fact.

Cuy Sheffield, head of crypto at Visa, commented on this in April as the company unveiled its collaboration with Allium Labs.

1/ After seeing this line chart created by @nic__carter showing stablecoin volume compared to established payment networks, we decided to partner with @AlliumLabs to create the Visa Onchain Analytics Dashboard as a public resource to take a closer look at stablecoin activity. pic.twitter.com/NInVklRKph

— Cuy Sheffield (@cuysheffield) April 25, 2024

Despite the tiny numbers of genuine user volumes in stablecoin payments, market experts are bullish on role of stablecoins in the payments space. Data shows the monthly active user count for stablecoins has grown to 27.5 million across the sector.

Analysts at Bernstein project that the stablecoin market could grow to $2.8 trillion over the next four years. However, the nascent industry may need to ramp up efforts to bring its main use case to real people.

Per data from CoinGecko, the stablecoins market cap currently stands at just over $160 billion. USDT has seen a 24-volume of over $36 billion, while USDC is at over $5 billion in the same period as of Monday, May 6.

The post Visa study shows only 10% of stablecoin transactions are real users appeared first on Invezz

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

REAL (REAL) на Currencies.ru

$ 0 (+0.20%)
Объем 24H $283.656k
Изменеия 24h: 2.25 %, 7d: -28.72 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 10.056m REAL

real only stablecoin users visa study new

Источник: invezz.com

real only → Результатов: 126


Finance Expert Raoul Pal Says 20% Bitcoin Correction Only Temporary As Euphoria Will Return

Co-founder and Chief Executive Officer (CEO) of Real Vision, Raoul Pal has shed light on the current market state and the future outlook of Bitcoin, the world’s largest cryptocurrency. Despite the cryptocurrency witnessing declines of more than 15%, the financial expert has uncovered a significant pattern that indicates a potential bull flag following Bitcoin’s price correction.

2024-5-2 05:00


Фото:

Saylor says Bitcoin will ‘eat gold’ in the coming months

MicroStrategy executive chairman Michael Saylor predicted that Bitcoin will “eat gold” in the coming months because it is a far superior asset in every way. The MicroStrategy chair made the statement during a CNBC interview on March 11, where he added that Bitcoin was not only superior to gold but all conventional assets, including real […] The post Saylor says Bitcoin will ‘eat gold’ in the coming months appeared first on CryptoSlate.

2024-3-12 02:30


Фото:

Yearn Crypto: Ready To Lead The Way In The World Of Cryptocurrencies

Cryptocurrency has taken the financial world by storm in the recent years, with many digital currencies gaining popularity and acceptance but only a handful of them provide real world usability. Now, stepping into the realm of decentralized finance is YEARN CRYPTO, a growth focused Layer 1 Blockchain designed to elevate experiences in future finance through technology.

2024-2-23 17:53


Why Injective’s (INJ) Price Pump Is Only a Product of Market Makers’ and Influencers’ Manipulation Rather Than Real Fundamentals

Cryptocurrency trader Miya raises concerns about coordinated manipulation driving INJ’s 150% price spike over recent weeks. She points to suspicious exchange order flow data showing massive buying pressure from 2-3 AM UTC a few days ago during Bitcoin’s flash crash, allowing INJ to hit all-time highs.

2023-12-15 20:30


Nearly 13 million bitcoins have not moved in over a year, an all-time high

Key Takeaways An all-time high of 12.7 million bitcoins have not moved in over a year That translates to two-thirds of the circulating supply Only 7% of bitcoins have moved in the last month History shows that long-term holders tend to rise as price falls, which may seem counter-intuitive The real story is a little […] The post Nearly 13 million bitcoins have not moved in over a year, an all-time high appeared first on CoinJournal.

2023-1-26 15:08


This Little Known DeFi Token Is Attracting Investors – Find Out Here

This DeFi token, which only ranks 138th among cryptocurrencies according to total market capitalization, is starting to make some real loud noise in the crypto space this ‘Uptober. ’ Even though the market continues to struggle to recover from its dismal September performance, SUSHI – the native token of SushiSwap – is making impressive leaps over the past couple of days.

2022-10-8 11:50


Фото:

GroveToken: Combining Virtual and Real Businesses within an Eco-Friendly Environment

Only a handful of digital exchanges provide world-class virtual business opportunities in an equally unique eco-friendly ecosystem, and GroveToken is about to join the bandwagon. However, Grove’s strategic plan is different since it’ll be combining virtual assets with real business without sacrificing the green aspect of the project.

2022-4-14 11:53


Tinder Introducing Virtual Currency, “Useful For Gifting Digital Goods,” in the Dating App

Tinder, a popular dating app, is rolling out an in-app currency to encourage users to spend more time swiping, scrolling, and even spending real money on the app. This new feature involving virtual currency will be initially available only in Australia because it’s a market that is representative of the company’s global member base.

2021-10-5 15:38


Glass Chain/GLS Leads the Industrialization of the Blockchain Entity takes an Amazing Step

With 2021 being a new period for technology, the digital industry is recognized as entering the new smart economy era of “technological and business model innovation”. In this era, the standard for people to look at things will not only be “technical innovation” or “business model innovation”, but whether the position between the two can produce real social efficacy and can create scarce commercial value.

2021-9-29 11:51


Фото:

Former US Treasurer Lauds XRP As The Only Cryptocurrency With Real Intrinsic Value

Rosie Rios has critiqued other cryptocurrencies, equating them to only speculative assets whose value is only dependent upon suppositious grounds as opposed to XRP. According to a tweet posted on Sunday, the former treasurer of the United States lauded XRP, positing that it was the only cryptocurrency with real use-case as opposed to other cryptocurrencies, […]

2021-9-27 16:41


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru