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Stablecoin Transactions Hit $15.6T in 2024, 119% of Visa’s Total Txns

Albert Brown
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The transaction volume of stablecoins reached $15.6 trillion in 2024, surpassing Visa’s, according to recent data from ARK Invest.

Notably, the transaction volume of stablecoins was approximately 119% that of Visa. A bar chart comparing stablecoins with major payment processors from 2019 to 2024 highlights the rapid rise of digital assets.

Initially, stablecoins had minimal activity, with transaction volumes significantly lower than Visa, Mastercard, and American Express. 

However, beginning in 2021, stablecoin usage accelerated, catching up with these traditional networks. By 2024, stablecoins dominated the chart, nearly reaching $16 trillion in transaction value.

Mastercard followed a steady upward trend, reaching almost $8 trillion in transaction volume. Meanwhile, American Express maintained a lower transaction value, staying below $2 trillion. This shift in transaction volume underscores the increasing adoption of stablecoins in global payments.

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Tron Leads Stablecoin Transactions

Tron Network processed $5.46 trillion in USDT transactions in 2024, handling 750 million transfers, according to Tronscan. Measured by monthly active addresses, Tron emerged as the leading blockchain, especially in emerging markets, due to its low transaction fees. 

The volume of USDT transactions on Tron displayed an upward trend throughout the year. Late 2023 figures ranged between $5 billion and $15 billion in daily volume, while by the end of 2024, daily transactions frequently exceeded $20 billion to $30 billion.

ARK Invest reported that stablecoin transactions hit 110 million monthly, equating to 0.41% and 0.72% of Visa and Mastercard’s respective figures.

Alongside Tron, Solana, Ethereum, and Base also contributed significantly to stablecoin transaction volume in 2024. December 2024 set a record with a daily volume of $270 billion and a monthly volume of $2.7 trillion.

Stablecoins Strengthen Dollar Influence

It is important to note that USDT remained the dominant stablecoin, followed by USDC, with both accounting for 90% of the total supply.

According to the research, stablecoins have expanded across multiple blockchains, reaching a total supply of $203 billion, representing approximately 0.97% of the U.S. M2 money supply. 

Stablecoin Supply
Stablecoin Supply

In December, active stablecoin addresses peaked at 23 million, the highest on record.

Meanwhile, digital assets have increasingly aligned with the U.S. dollar as global financial systems shift. While China and Japan sold record amounts of U.S. Treasuries, Saudi Arabia ended its 45-year petrodollar agreement, and BRICS nations reduced their reliance on the dollar. 

Previously, Bitcoin and Ether served as primary entry points into digital assets, but stablecoins now account for 35% to 50% of on-chain transaction volumes.

Dollar-pegged stablecoins dominate with over 98% of total supply, while gold-backed and euro-backed stablecoins hold 1% and 0.5%, respectively. ARK Invest’s research suggests further expansion, including stablecoins backed by Asian currencies.

US SEC Launches Dedicated Email Address for Crypto

Lele Jima
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US SEC Launches Dedicated Email Address for Crypto

The U.S. Securities and Exchange Commission (SEC) has launched a dedicated email address for direct communication with the crypto industry. 

Nate Geraci, the President of ETF Store, called the crypto community’s attention to this initiative. According to an X post yesterday, Geraci expressed surprise that the SEC now has a dedicated crypto email address. 

Geraci suggested that he never expected the commission to launch a communication channel to enhance its direct engagement with the crypto industry. The accompanying image shows that the email was created by the SEC’s newly launched crypto task force. 

Crypto Task Force Begins Its Journey to Regulatory Clarity

Recall that Commissioner Mark Uyeda created this unit last month following his appointment as the SEC Acting Chair. Notably, Republican Commissioner Hester Peirce, popularly referred to as ‘Crypto Mom,’ was selected to head the crypto task force. 

Following her appointment, Peirce has already commenced operations to provide the industry with much-needed regulatory clarity. 

Yesterday, the task force published an article titled ‘The Journey Begins,’ outlining its major priorities, from defining what constitutes crypto asset securities to developing the required framework for crypto offerings. 

This move aims to address the previous administration’s regulatory confusion and usher the United States’ crypto sector into a new era of regulatory clarity. 

SEC Boosts Communication with the Crypto Sector 

In an X post yesterday, Commissioner Peirce shared a link to the task force’s about page, highlighting how the crypto industry can communicate with the unit. 

Industry stakeholders are required to either demand a meeting with the task force by completing an online request form or comment on some of the issues the unit is considering via the crypto-dedicated email address. 

Uyeda’s Achievements

As the crypto industry awaits the confirmation of a permanent head for the SEC, Uyeda is already filling the void and winning the hearts of many via some of his policies. 

For instance, his leadership gave birth to the SEC’s first-ever crypto task force, which aims to transition the commission from its enforcement-heavy crypto approach to a more friendly and fair regulatory framework backed by law. 

Also, the SEC, under Uyeda’s leadership, approved a spot crypto-related ETF application faster than the previous administration. 

This was observed in the NYSE’s recently approved application to list and trade shares of Bitwise’s dual Bitcoin and Ethereum ETF. Notably, the SEC approved the NYSE’s application in only 45 days, compared to the expected 245 days’ wait time. 

Furthermore, under the current leadership, the SEC is trimming down the size of its crypto enforcement unit. This move has resulted in over 50 securities lawyers being reassigned from the SEC crypto enforcement unit to other divisions. 

Amid these milestones, it becomes evident that the current leadership is focused on providing the crypto industry with the highly anticipated regulatory clarity, marking a shift from the past enforcement-driven approach. 

Over 100K RLUSD Transactions Recorded in 2 Months Since Launch Amid Steady Adoption

Okoya David
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Over 100K RLUSD Transactions Recorded in 2 Months Since Launch Amid Steady Adoption

Users have performed over 100,000 transactions with Ripple’s USD stablecoin RLUSD in the two months since it launched. 

This is according to a report released by CryptoQuant on Tuesday, February 4, highlighting the steady adoption of the Ripple–backed stablecoin.

According to the crypto analytics firm, about 109,000 RLUSD transactions have been completed so far, 95% of them or about 105,000 on the XRP Ledger and only around 4,100 on Ethereum.

RLUSD transaction count by network chart
RLUSD transaction count by network chart. Source: CryptoQuant

CryptoQuant analyst Maartunn contended that the asset’s higher uptake on the XRPL could be due to the network’s greater efficiency and lower transaction costs compared to Ethereum.

Another likely boost for RLUSD on the XRPL is its growing adoption in DeFi activity on the network following the recent automated market maker clawback amendment. According to xpmarket.com data at the time of writing, there are at least 66 liquidity pools based on the asset. 

The largest pool, XRP/RLUSD, boasts over $1.6 million in liquidity and has seen nearly 3,000 transactions in the past few days.

Amid this adoption, the asset now boasts a market cap of over $108 million. While this is still miles away from the billions boasted by offerings from stablecoin leaders Tether and Circle, many expect the asset to benefit from incoming regulations and expected integration with Ripple’s cross-border payments business later this year.

At the same time, more networks may be set to integrate the asset. For example, Cardano founder Charles Hoskinson has suggested he is open to bringing RLUSD to Cardano.

Meanwhile, the asset has also yet to receive support from popular exchanges like Binance, Coinbase, and Kraken, which could also be preventing more users from onboarding.

Ripple CEO Squashes Criticisms Over Crypto Czar David Sacks’ Speech, Says It Is A Big Deal

Elendu Benedict
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Ripple CEO Squashes Criticisms Over Crypto Czar David Sacks’ Speech, Says It Is A Big Deal

Amid criticisms emerging from David Sacks’ first full media appearance as crypto czar, Ripple CEO Brad Garlinghouse has insisted the meeting is a big deal.

Sacks took the stage yesterday in a star-studded house to discuss America’s plans to set the pace globally on the digital assets front. The crypto czar, who heads the US digital asset working group, revealed several strategies across aspects of the industry, including a Bitcoin stockpile and stablecoins.

Meanwhile, the interview did not bode well with a faction of the crypto community, who hinged their grievance on Sacks’ focus on stablecoins, which they consider trivial. Some expressed dissatisfaction with the failure to announce a strategic Bitcoin reserve, a plan that has been ongoing for months.

Ripple CEO Brad Garlinghouse has squashed criticisms of the vital cameo, branding the press conference a big deal.

Missing the Forest Because of Trees

Garlinghouse insisted that the skepticism trailing the press conference was unnecessary, as it failed to recognize the meeting’s cruciality. He likened the uproar to “missing the forest for the tree.” 

The Ripple CEO highlighted the magnanimity of having influential figures converge to discuss cryptocurrencies, such as in the press release. For perspective, the chairs of the Senate Banking, House Financial Services, Senate Ag, and the House Ag were present with the crypto czar to discuss crypto regulation.

He termed the development a “big deal” for digital assets, noting that such high-caliber convergence to push the industry forward was the first of its kind.

Committee Devoted to Crypto Regulation

Meanwhile, Sacks expressed the committee’s devotion to drafting a working crypto framework in the United States. He noted that the several units that Donald Trump created for this task, including the Crypto Task Force, will ensure that technological innovations like digital assets thrive in the country.

Furthermore, the czar highlighted the “four years of arbitrary prosecution and persecution” the crypto industry endured from the Securities and Exchange Commission (SEC) under Gary Gensler. He expressed the team’s devotion to making things right, starting by preventing them from going offshore.

Additionally, Sacks stressed stablecoin’s potential role in maintaining the US dollar’s dominance on the global stage. He noted that America’s strategic adoption of the currency could scale the dollar usage internationally.

Bitcoin Price to $1.5M? ARK Says BTC is on Track to Hit 2030 Targets

Okoya David
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Bitcoin Price to $1.5M? ARK Says BTC is on Track to Hit 2030 Targets

Bitcoin price may be set to soar as high as the $1.5 million price point as early as 2030, according to $6.8 billion asset manager ARK Invest.

In a “Big Ideas 2025” report released on Tuesday, February 4, ARK argued that Bitcoin was on track to hit price targets it had forecasted for 2030: $300,000 in the bear case, $710,000 in the base case, and $1.5 million in the bull case.

The firm made this claim by citing factors like institutional investment, adoption in corporate treasuries, and nation-states.

For one, the firm noted that spot Bitcoin ETFs have been an instant hit. These products currently hold over $116 billion in cumulative assets and have seen $40 billion in cumulative net inflows in just over a year.

At the same time, ARK shared data showing that at least 74 corporations have added Bitcoin to their balance sheet. The firm disclosed that these companies hold about $55 billion worth of BTC. Unsurprisingly, MicroStrategy leads the pack with 471,107 BTC worth over $46 billion.

Meanwhile, the talk of a U.S. strategic Bitcoin reserve under the Donald Trump administration has triggered optimism that the asset could be adopted in national treasuries worldwide.

The ARK Invest report comes despite the asset’s recent price struggles. After hitting fresh highs just above the $100,000 price point, the asset’s price has been significantly range-bound amid macroeconomic uncertainties over inflation and now a looming trade war between the U.S., Canada, Mexico, and China.

ARK has a vested interest in Bitcoin’s success. It was one of eleven issuers who received the SEC’s greenlight to launch a spot Bitcoin ETF in January 2024. Its product, launched in partnership with 21Shares, currently holds just over $5 billion in assets under management.

Here’s Why Shiba Inu Is Not a Memecoin, but a Technology Powerhouse—SHIB Lead

Abdulkarim Abdulwahab
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Here’s Why Shiba Inu Is Not a Memecoin, but a Technology Powerhouse—SHIB Lead

Shiba Inu lead developer Shytoshi Kusama has more reasons to argue that the SHIB project has evolved beyond its meme origins.

In a tweet on Tuesday, Kusama reminded the crypto community that Shiba Inu has grown into a utility-driven project to such an extent that it no longer fits the categorization of meme coins.

With the most recent partnership announcement, Kusama emphasized that it is proof that SHIB is not a meme but a serious project in the crypto space. “We are actually a technology powerhouse,” he said.

Proof Shiba Inu is Not a Meme, Per Kusama

Notably, this bold perspective comes as Shiba Inu announced a fresh collaboration with the government of the United Arab Emirates.

In particular, the UAE Ministry of Energy and Infrastructure has formed an alliance with SHIB to push Web3 solutions in infrastructure, energy, and other sectors.

According to the official statement, this partnership utilizes Shiba Inu’s extensive Web3 technologies to improve public service efficiency, promote citizen-centered governance models, and enhance green infrastructure.

The statement also highlighted that Shiba Inu’s Operational System will streamline development across the Ministry of Energy and Infrastructure’s operations.

UAE Undersecretary Praises SHIB Collaboration

UAE Undersecretary for Energy and Petroleum Affairs, Sharif Al Olama, expressed his excitement about collaborating with Shiba Inu. He noted that the move helps deepen the country’s commitment to innovative digital services.

In parallel, he emphasized that the partnership marks a major milestone in the UAE’s efforts to redefine government services.

“By adopting emerging tech, we seek to set a global benchmark for innovation. Together, we are shaping a future built on connectivity, sustainability, and digital excellence,” he said.

Shiba Inu Expanding Ecosystem

Notably, the official press statement acknowledged that Shiba Inu is one of the most recognized brands globally, having transformed into a technological powerhouse. It now offers diverse blockchain and AI-driven solutions, enabling individuals, businesses, cities, and countries to transition from Web2 to Web3.

The Shiba Inu ecosystem’s achievements include an L2 blockchain, impactful partnerships, several NFT projects, a high-fidelity metaverse, Web3 gaming, and various DeFi protocols, all supported by proprietary technologies.

In his remarks, Shiba Inu’s Kusama noted that the new partnership attests to Shiba Inu’s power in delivering groundbreaking tech solutions.

“We will redefine how citizens and businesses collaborate in an eco-friendly digital framework,” he said.

Essentially, the Shiba Inu lead developer believes that the project’s success in securing this latest high-profile partnership with a government entity further cements that Shiba Inu is not a meme but a utility project.

Meanwhile, this is not the first groundbreaking collaboration of its kind. In April 2024, Shiba Inu joined tech industry giants Apple and Netflix at the CDSA to secure the future of the entertainment industry.

Trader Explains Why XRP Has Potential to Rise to $100

Sam Wisdom Raphael
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Trader Explains Why XRP Has Potential to Rise to $100

A trader identifies several reasons why XRP has the potential to reach a three-digit price following a query from Tristan Tate.

XRP’s social volume has recently surged due to its strong market performance and discussions about its future potential. A major reason behind the renewed enthusiasm is speculation that XRP could find a place within a proposed U.S. strategic digital asset reserve. 

This speculation, along with XRP’s impressive price performance from the fourth quarter of 2024, has led to a surge in social media discussions.  

One notable figure who joined the conversation is internet celebrity Tristan Tate, brother of Andrew Tate. He recently questioned why XRP has been receiving so much hype and how its price could potentially rise from its current $2.5 level to $100. 

In response, Steff, an XRP community member and trader, gave multiple reasons why he believes XRP has the potential to skyrocket. 

Factors Capable of Pushing XRP Price up

One of the biggest reasons was XRP’s potential to serve as an alternative to SWIFT, the traditional system banks use for international transactions. He argued that SWIFT can be slow and costly, whereas XRP enables transactions to settle in seconds at a fraction of the cost. 

According to the proponent, if XRP replaces even a portion of SWIFT’s market, its demand could see an impressive surge. Notably, this is often a catalyst for massive price growth.

Steff also pointed to Ripple’s list of global partnerships, which includes major financial institutions like Santander, and American Express, which announced a collaboration with Ripple in November 2017. 

According to him, once the United States crypto industry attains regulatory clarity, more financial institutions could adopt XRP on a large scale, leading to massive price appreciation.  

Another major factor he mentioned was the role of Ripple’s ODL (now Ripple Payments). Notably, Ripple Payments is already in use by financial giants to facilitate cross-border transactions instantly. If the broader remittance market fully integrates XRP, transaction volumes could increase exponentially.  

Steff also pointed to regulatory clarity. For context, the SEC lawsuit against Ripple was a major roadblock, but with the change in leadership, the trader believes full clarity is near. He expects Wall Street and large financial institutions to enter the market once there is no regulatory cloud over XRP.

Additionally, he argued that XRP’s limited supply and increasing utility would create a supply-demand imbalance. He stressed that XRP has practical use cases, including cross-border payments, tokenization of assets, and smart contracts, a potential utility.

Is XRP to $100 Possible?

While Steff suggested that these factors are capable of pushing XRP to hundreds of dollars, he specifically presented an estimate of what a rise to at least $100 would mean for the market.

According to his estimates, if XRP captured just 10% of the global remittance market, it could see a 3-5x increase in valuation. However, if it replaces SWIFT, which moves trillions of dollars daily, Steff believes $100 is a realistic outcome based on market demand and adoption.  

Nonetheless, not everyone holds this opinion. A critic known as Mr. Random argued that XRP reaching $100 would require a market capitalization exceeding $5 trillion, supposing 45 billion tokens are in circulation. Notably, a $100 price would lead to a fully diluted valuation of around $10 trillion for XRP. 

The critic pointed out that this valuation would surpass the economies of many major nations. Notably, several individuals who have opposed this $100 price goal have also identified XRP’s supply as the major constraint. Currently, XRP has a market cap of $144 billion.

Expert Says Dogecoin Could Make You Financially Independent in 2025: Here’s How

Albert Brown
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An analyst has highlighted the potential for Dogecoin holders to achieve financial independence by 2025, with price projections reaching as high as $54.

Dogecoin has exhibited notable price fluctuations, with recent declines over various timeframes. Despite a positive daily performance, the past week saw a 19.9% drop, while the last 14 days recorded a 27.1% decline. Over the past 30 days, DOGE decreased by 30.5%. 

However, its long-term trend remains positive, with a 238.4% gain over the past year. This performance has positioned Dogecoin among key assets that market observers closely track for potential growth.

Becoming Financially Independent with Dogecoin

A market commentator under the pseudonym Inspired Analyst recently listed projects to monitor in 2025. He emphasized their potential to make one rich and financially independent this year.

Remarkably, Dogecoin featured on the list, the biggest meme coin by market cap. With its price at $0.2652, a $10,000 investment would secure approximately 37,707 DOGE.

Projections suggest that if Dogecoin reaches $9.35, the investment would be valued at $352,564. For a $20 DOGE price, the portfolio would rise to $754,140; at $54, it would surpass $2 million.

Beyond Dogecoin, the analyst also pointed to Ethereum, ONDO, Algorand, Solana, SUI, Aptos, Arbitrum, and Chainlink as assets to monitor. The analyst mentioned that these projects align with the concept of “Wall Street 2.0,” which represents the migration of financial assets to blockchain technology. Ethereum and ONDO were noted as leading this transition.

Timelines for DOGE $9, $20, $54 Forecasts

Notably, projections for Dogecoin’s future price points have varied among entities. Trader Alan suggested that the OG meme coin could reach $8 during the 2028 bull market. Similarly, Telegaon analysts projected a minimum price of $9 by 2029, with a maximum of $13. 

Meanwhile, ChatGPT’s forecast indicated that Dogecoin might reach $9.35 between 2028 and 2032. However, Changelly Exchange analysts projected a later timeline, suggesting Dogecoin could only reach this price by January 2040, a 15-year outlook.

Ultimately, for Dogecoin to reach $20.68 and $54.67, various entities have provided different timelines. Analyst Dima Potts suggested that DOGE could hit $20 this year. 

Telegaon analysts estimated that this milestone could be achieved between 2030 and 2035, while ChatGPT projected the same range between 2032 and 2038.

US SEC Cuts Crypto Enforcement Team Amid Changing Regulatory Tide

Elendu Benedict
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US SEC Cuts Crypto Enforcement Team Amid Changing Regulatory Tide

The US Securities and Exchange Commission (SEC) has taken promising steps in its new stance against digital assets, recently cutting its enforcement team.

A crypto regulatory-friendly US SEC has progressed following a change in the helm of affairs. Donald Trump’s appointment of Mark Uyeda as the acting chair of the top securities watchdog has ushered in a warmer embrace of the nascent sector.

The New York Times disclosed in a report that the SEC has taken fresh steps in eradicating regulatory tyranny towards the cryptocurrency sector. Per the Tuesday post, the regulator has scaled down its enforcement efforts toward the industry.

Regulators Slash Enforcement Workforce

Under Uyeda, the SEC has slashed its crypto enforcement workforce and repositioned affected staff to new jurisdictions. The NYT report, citing five people familiar with the issue, stated that this is part of the regulator’s changing disposition toward digital assets.

The redeployment affected one of the agency’s top lawyers in the crypto enforcement division, whom the unmentioned people described as an unusual demotion. Meanwhile, the shift came as the regulator plans to cut back on its infringement on digital assets.

Notably, a chunk of the lawyers joined the enforcement department following former boss Gary Gensler’s appointment. The anti-crypto chair expanded the unit, created in 2017, by more than double in May 2022 amid heightening lawsuits against crypto firms.

Meanwhile, Gensler used the lawyers effectively, bringing multiple lawsuits against digital asset firms, including top dogs like Coinbase, Kraken, Robinhood, and Binance.

Reactions Trail Announcement

Eric Balchinas, Bloomberg’s senior analyst, confirmed the NYT report in a tweet. Meanwhile, mixed reactions also trailed the development, with reactions swinging in from bullish and cautious perspectives.

For instance, one reaction hailed the reassignment as great news because it meant innovation could thrive again in the United States. However, another user insinuated that it suggests crypto investors will be under-protected from bad actors.

Meanwhile, others called for the SEC to take the next step and dismiss the Ripple case. Particularly, a comment suggested the agency drop the “ridiculous and outlandish appeal.”

Other SEC Efforts on Crypto Regulation

Remarkably, the SEC has made other efforts to regulate the crypto industry properly. The securities regulator recently set up a crypto task force, headed by Crypto Mum Hester Pierce, to review the SEC’s handling of the technological innovation.

Furthermore, the SEC has repealed the Staff Accounting Bulletin (SAB), a long-standing regulatory imposition discouraging the banking sector from interacting with the digital asset sector.

As Avalanche (AVAX) Crashes Below $27: Could $20 Be the Next Stop?

Albert Brown
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As Avalanche (AVAX) Crashes Below $27: Could $20 Be the Next Stop?

Avalanche (AVAX) drops below $27, with analysts predicting a potential crash to the $20 mark as bearish pressure intensifies.

As altcoins prepare for a reversal rally, multiple blue-chip tokens continue to struggle. One such token is Avalanche, down by 3.6% over the past 24 hours. This brings the 7-day return to -18.3%.

Dropping under its $11 billion market cap, Avalanche is now trading at $26.90. Amid the increasing bearish influence, will Avalanche find a bullish reversal spot, or is it doomed to crash under $20?

Is The Avalance Crash Inevitable?

On the daily chart, the AVAX price trend reveals a bearish breakdown of a local support trendline. This support trendline formed a falling-channel pattern with a parallel resistance trendline.

Avalance Price Chart
Avalance Price Chart

On February 2, the 14.95% drop in Avalanche resulted in the breakdown rally. With the downfall, Avalanche also lost the crucial support level at the 61.8% Fibonacci level at $28.91.

The ongoing downfall started after the morning star pattern near $34.34. Over the past five days, the downtrend has erased 21.66% of AVAX’s market value.

With a post-retest fall from the 61.80% Fibonacci level, Avalanche is nearing the 78.60% Fibonacci level at $24.34. While the short-term intraday recovery of 1.4% hints at a brief bullish bounce, the bearish influence reveals a strong possibility of a downtrend continuation.

This is highlighted by the Trend Strength Index (TSI), which has dropped below the halfway level and now stands at -0.89, indicating an extremely bearish trend.

Furthermore, the downfall has influenced a massive downtick in the lower Bollinger Band, accompanied by a sharp fall in the 20-day EMA line.

AVAX Price Targets: Analyst Puts $20 on Radar

Highlighting the potential for a major decline, crypto analyst Ali Martinez points to significant downside risk in the AVAX price trend. Martinez forecasts a triangle breakdown rally on the 5-minute chart.

The analyst predicts that Avalanche’s downtrend could lead to a drop to the $20 psychological mark. Based on price analysis, the downtrend will likely fall below the 78.60% Fibonacci level at $24.34.

This would make the $19.55 support level the next price target, indicating the potential for a fall below $20. On the upside, the 61.80% Fibonacci level at $28.91, which aligns with the broken support trendline, remains a key resistance level.

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