Pantera Capital has highlighted the transformative role of stablecoins in driving cryptocurrency adoption, projecting that their transaction volume will exceed $5 trillion in 2024. In a recent blog post, Pantera noted that stablecoins now account for over 50% of blockchain transactions, up from just 3% in 2020, marking a significant milestone in their adoption.
The firm emphasized that stablecoins represent the "killer value proposition" of cryptocurrencies, with nearly 200 million accounts engaging in transactions this year. These digital assets are experiencing rapid growth, particularly in emerging markets, where they offer a 10x value advantage over traditional payment channels for B2C payments and B2B cross-border transactions.
Stablecoins are increasingly being utilized beyond the DeFi ecosystem, becoming a preferred solution for global cross-border remittances. According to Juniper Research, traditional cross-border B2B payments are expected to reach $40 trillion in 2024, highlighting the vast potential for stablecoins to revolutionize this sector. Supply and transaction volumes of on-chain stablecoins have already reached all-time highs, positioning them as a game-changer in global finance.