According to the latest report from Coinbase, 2024 represented a significant moment for the development and evolution of the crypto market. Among the growing adoption of stablecoin and the increasing interest in cryptocurrencies as diversifying assets, the sector has seen a substantial transformation. Coinbase’s quarterly report, enriched with data from partners like Grayscale, a16z, Tephra, and CoinFund, highlights five main trends that have shaped the market.
The Adoption of stablecoin: a bridge between traditional systems and blockchain
According to the latest market study by Coinbase, stablecoin have consolidated their position as one of the most useful tools in the cryptocurrency landscape. During the fourth quarter of 2024, their supply increased by 18%, with the overall value of the main stablecoin reaching nearly 200 billion dollars. These assets, designed to maintain a stable value, are finding significant applications in both traditional payments and blockchain-based systems.
This phenomenon highlights how stablecoin are becoming a point of convergence between traditional finance and decentralized. Companies and individuals use them for cross-border transactions, volatility mitigation, and access to emerging markets. Their growing adoption demonstrates the potential of these cryptocurrencies in simplifying payments and improving global financial efficiency.
The Increase of Active Bitcoin Supply in the Coinbase Report
In the fourth quarter of 2024, the Coinbase report shows how the active supply of Bitcoin grew by almost 70%, bringing more than 1.8 million BTC on-chain into circulation. This increase reflects a renewed interest in the main cryptocurrency, both as a store of value and as a transaction tool.
The increase in on-chain activity is often considered a positive signal for the market, indicating greater participation from investors and a more practical use of Bitcoin. This trend could be related to greater confidence in the cryptocurrency ecosystem, supported by favorable regulatory developments and institutional adoption.
The Spot ETFs on Ethereum: a return of interest
Another important development was the success of the spot ETFs on Ethereum in the United States. After a period of outflows in the third quarter, these instruments attracted 3.1 billion dollars in new inflows in the fourth quarter of 2024. This change signals a renewed interest from institutional investors in Ethereum, consolidating its position as one of the leading blockchain platforms.
The Ethereum ETFs offer investors a regulated and accessible way to gain exposure to this cryptocurrency, without having to deal with the technical complexities of directly managing digital assets. Their growing popularity highlights an increasing acceptance of Ethereum in the traditional financial context.
The Ethereum Ecosystem: an exponential growth of activities
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In 2024, the number of daily active addresses in the Ethereum ecosystem increased by nearly 150%. Coinbase explains that this phenomenon was primarily driven by the adoption of Layer 2 solutions, with the Base platform playing a leading role.
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Layer 2 solutions like Base offer improved scalability and reduced transaction costs, making Ethereum more accessible and useful for a wide range of applications. The growth of active addresses reflects an expansion of the ecosystem, with an increase in activity in sectors such as decentralized finance (DeFi), non-fungible tokens (NFT), and decentralized applications (dApp).
The role of cryptocurrencies as diversifying assets
Another key theme of 2024 was the growing interest in cryptocurrencies as diversifying assets. In a context of global economic uncertainty, investors began to consider cryptocurrencies not only as speculative instruments but also as a strategic component of their portfolios.
The uncorrelated nature of assets like Bitcoin and Ethereum compared to traditional markets has attracted the attention of investors seeking alternatives to mitigate risks. This change in perception could lead to a greater integration of cryptocurrencies into institutional and retail portfolios.
Conclusions of the Coinbase report: an evolving market
The 2024 marked a turning point for the cryptocurrency markets, with trends highlighting a maturation of the sector and an increasingly widespread adoption. From the expansion of stablecoin to the growth of the Ethereum ecosystem, through the renewed interest in Bitcoin and the Ethereum ETFs, the sector continues to evolve, attracting an increasingly diverse audience.
As we enter 2025, these trends suggest that cryptocurrencies are becoming increasingly integrated into global economies, offering new opportunities and challenges for investors, companies, and regulators.
