Crypto Wallet Boom: 36M Active Users & Stablecoin Surge
Record Crypto Wallet Adoption and Stablecoin Growth
The cryptocurrency market experienced significant growth in Q4 2024, with mobile wallet adoption reaching an all-time high of 36 million active users. This, coupled with a substantial increase in stablecoin supply, points to a broader shift in how individuals engage with digital assets.
Coinbase Report: Mobile Wallets Drive Crypto Engagement
Coinbase's Q1 2025 market report, released January 29th, emphasizes the crucial role of mobile wallets in boosting crypto interaction. This signifies a transition from passive holding to active participation in DeFi and NFT ecosystems. As Daren Matsuoka, data scientist at a16z Crypto, notes, "Mobile wallets can play a critical role in turning passive crypto owners into active crypto users."
Historically, many held crypto passively. Now, data reveals increased user involvement in DeFi, NFTs, and other blockchain services. This active engagement is driving innovation and mainstream adoption.
A separate report from Triple-A indicates 560 million global crypto holders in 2024, further confirming broader market acceptance.
Security Concerns Remain
Despite the positive trends, security remains paramount. Recent scams, such as the fake XRP wallet scheme linked to the US Treasury, highlight the ongoing need for robust security measures and user vigilance. Codeum, a blockchain security and development platform, offers solutions such as smart contract audits and security consultations to mitigate these risks.
Stablecoin Supply Soars
Coinbase's report also underscores the remarkable growth of stablecoins in 2024, with supply rising by 18% to nearly $200 billion. This increase reflects rising investor appetite and serves as a key on-ramp for fiat-to-crypto transactions. Stablecoin trading volume exploded to $30 trillion in 2024.
Stablecoin inflows to exchanges reached a record $9.7 billion on November 21st, just weeks before Bitcoin's surge past $100,000. While promising, clear crypto regulations are crucial for wider stablecoin adoption and financial inclusion. The report suggests that the groundwork is now laid for stablecoins to play a significant role in remittances, digital capital markets, and financial services for the underbanked.
Circle's Chief Business Officer, Kash Razzaghi, highlighted stablecoins' potential in reshaping high-inflation economies, offering an alternative to volatile local currencies. Binance and Hashed CEOs, Richard Teng and Simon Kim, respectively, also predicted stablecoins as a major trend in 2025.
Codeum's Services: Codeum provides comprehensive blockchain security and development services, including smart contract audits, KYC verification, custom smart contract and DApp development, tokenomics and security consultation, and partnerships with launchpads and crypto agencies. Contact us to learn how we can help secure your blockchain project.