The number of mobile cryptocurrency wallets reached a new record high of over 2024 million in Q36 XNUMX, according to a new report from Coinbase.
Mobile wallets can play a critical role in turning passive cryptocurrency holders into active users, wrote Daren Matsuoka, data scientist at a16z Crypto.
According to Triple-A’s 2024 report, there are about 560 million cryptocurrency holders worldwide. That’s a figure that’s much higher than the 36 million active users of mobile crypto wallets. According to Lunu CEO Pavel Denisyuk, the number of crypto investors could triple in the next two years.
In addition to the record number of mobile crypto wallet users, Coinbase analysts noted the growing importance of stablecoins. In their report, they said that stablecoins will become the new “killer” of cryptocurrencies in 2024, as they are most often used for payments and transactions.
Behind this growth is a simple but important fact: stablecoins can make it faster and cheaper for both businesses and individuals to move money around the world, Coinbase said in a report.
In the fourth quarter, the total supply of stablecoins grew by more than 18% and almost reached the $200 billion mark.