Welcome to This Week in Crypto, your go-to update on the biggest trends shaping the digital asset world. This week, we’re seeing exciting shifts in adoption and market activity, from record-breaking mobile wallet usage to stablecoins surpassing major payment networks. Plus, a surprising memecoin launch has driven a massive spike in crypto interest. Here’s what you need to know:

  • Crypto mobile wallets hit a record 36 million users – More people are actively engaging with decentralized finance (DeFi) and blockchain apps, marking a major step toward mainstream adoption.
  • Stablecoins surpass Visa and Mastercard in transaction volume – With a total transfer volume of $27.6 trillion in 2024, stablecoins have cemented their role as a dominant force in digital payments.
  • Trump’s memecoin fuels a surge in crypto searches – Donald Trump’s entry into the memecoin market drove Google searches for “crypto” to a three-year high, bringing fresh attention to digital assets.

Let’s dive into the details of this week’s top stories!

Crypto Mobile Wallets Reach Record 36M Users

The number of active mobile cryptocurrency wallets hit an all-time high of 36 million in the fourth quarter of 2024, according to Coinbase’s latest market report. This surge highlights a shift in how people use crypto, as more holders move beyond simply owning digital assets to actively engaging with decentralized finance (DeFi) and blockchain applications. With an estimated 560 million crypto holders worldwide, mobile wallets are playing a key role in turning passive investors into active users. Industry experts predict that as accessibility improves, crypto adoption could triple in the next two years, making mobile wallets an essential tool for managing digital assets.

This growth reflects a larger trend of increasing crypto adoption, as mobile wallets offer convenience, security, and direct access to financial services without relying on traditional banks. More users are choosing mobile wallets to store, send, and trade cryptocurrency, further driving interest in user-friendly crypto apps and platforms. As the industry evolves, mobile wallets are expected to play an even bigger role in bringing crypto into everyday financial activities, making it easier for both beginners and experienced users to interact with the digital economy.

Stablecoin Transactions Overtake Visa and Mastercard in 2024

Stablecoins saw record-breaking adoption in 2024, with their total transaction volume reaching $27.6 trillion, surpassing the combined totals of Visa and Mastercard by 7.7%, according to a report from crypto exchange CEX.io. This growth was fueled by increased use in crypto trading, decentralized finance (DeFi), and automated trading bots, especially on Solana and Base. Tether’s USDt remained the most-used stablecoin, making up nearly 80% of all stablecoin transactions. 

Stablecoin supply surged by 59% in 2024, now accounting for 1% of the total U.S. dollar supply, showing their increasing role in global finance. While more people are using stablecoins for savings and cross-border payments, their main purpose remains powering crypto trading and DeFi transactions. The report also revealed that 70% of stablecoin transfers were made by trading bots, with 98% of stablecoin activity on Solana and Base driven by automated transactions. Ethereum and Tron continued to lead the stablecoin space, making up over 83% of all transactions, though other networks are quickly catching up.

Trump Memecoin Drives Surge in Crypto Interest

The launch of Donald Trump’s official memecoin (TRUMP) on January 18 triggered a massive spike in Google searches for “crypto,” reaching its highest level since Bitcoin’s all-time high in November 2021. The surge in interest extended beyond search engines, as keywords like “memecoin,” “buy crypto,” and “Solana” also saw increased activity, reflecting growing public curiosity about the crypto market.

Trump’s memecoin release also led to a surge in downloads of crypto trading apps in the U.S., with Crypto.com, Moonshot, and Coinbase dominating Apple’s App Store finance category. Additionally, the event helped set a record for new Solana wallet addresses with nearly 9 million new addresses created before Trump’s inauguration. A survey by NFTevening found that 42% of TRUMP memecoin buyers were purchasing crypto for the first time, highlighting how memecoins continue to attract new retail investors to the crypto space.

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