Stablecoin transfer volume increased 16x during past 4 years. That could be a sign of growing adoption for a maturing crypto industry, analysts say.

According to Token Terminal data, in April 2024 the monthly stablecoin transfer volume reached a record high of $1.68 trillion. This is roughly a 16-fold increase over $100 million in October 2020.

There were over 31.1 million total monthly active stablecoin users that made over 353 million transactionsin April, according to Visa’s stablecoin dashboard.

The cumulative market capitalization of all stablecoins sits at over $162 billion. An impressive number, especially when compared to $130 billion on Jan. 1 2024, as DefiLlama data shows.

That is a strong signal.

Crypto industry is getting more matured, investors's conviction is growing. And that means more incoming capital.

To a certain degree, stablecoins' success is no less important than Bitcoin's peak price.

Stablecoins are the main bridge between the traditional financial system and the crypto world. Crypto enthusiasts often say that Bitcoin might be the crypto gold, Ethereum might be the crypto silver, yet stablecoins are the blood in the veins of the market. The more people are ready to use stablecoins for their everyday financial activities, the more blockchain adoption we might see in the future.