Stablecoins make up one-third of all crypto payments in 2024 – CoinGate report
The cryptocurrency market reached significant milestones in 2024. With mainstream appeal steadily rising on account of increased accessibility through Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) and a favorable political climate, the wider market went into a bull run in the last quarter of the year. However, in the midst of an uptrend, it’s easy to forget the utility side of things. Crypto payments have likewise experienced a noted surge. Per CoinGate‘s crypto payments report 2024 published on January 14, stablecoins have seen the lion’s share of the gains — surpassing even Bitcoin as a method of payment, with Tether (USDT) leading the charge. In addition, the report showcased that BTC was dethroned as the most popular blockchain by the Tron (TRX) network and that 2024 saw a marked increase in the popularity of layer 2 solutions like the Lightning Network. Meanwhile, ETH seems to be losing influence, while Solana (SOL) is on the rise. ...