YEREVAN (CoinChapter.com) — The number of crypto mobile wallet users hit 36 million in Q4 2024, according to Coinbase’s Q1 2025 market report, released on Jan. 29. This marks the highest number ever recorded. The data shows increased engagement in DeFi, NFTs, and blockchain applications.
Mobile Wallet Users Growth. Source: Coinbase ReportThe report highlights a shift from holding cryptocurrencies to actively using them in decentralized applications (dApps). More users are transacting, staking, and trading NFTs directly from their crypto wallets.
According to Daren Matsuoka, data scientist at a16z Crypto, “Mobile wallets can play a critical role in turning passive crypto owners into active crypto users.” The report shows that more individuals are using crypto mobile wallets for financial activities beyond simple storage.
Global Crypto Ownership Reaches 560 Million Users
A separate report from Triple-A estimates that 560 million people worldwide held cryptocurrency by the end of 2024. The study found that global cryptocurrency ownership averaged 6.8%, reflecting a growing number of crypto wallet users.
Global Cryptocurrency Ownership Data. Source: Triple-AAs more individuals adopt crypto wallets, the demand for decentralized finance (DeFi) services is increasing. Users are turning to mobile wallets for transactions, staking, and accessing blockchain-based services.
However, security threats remain an issue as cybercriminals continue to exploit social media platforms to target crypto wallet users. A recent fake XRP wallet scam, linked to the US Treasury, misled users into sending funds to fraudulent addresses.
Stablecoin Supply Increases 18%, Trading Volume Surges to $30 Trillion
According to Coinbase, stablecoin supply saw an 18% increase, reaching nearly $200 billion by the end of 2024. The report highlights the role of stablecoins in crypto transactions, as they provide liquidity for exchanges, DeFi platforms, and on-chain trading.
Stablecoin Market Growth. Source: Coinbase ReportStablecoin trading volume tripled in 2024, surpassing $30 trillion. In December alone, trading volume exceeded $5 trillion, coinciding with Bitcoin’s rally to $100,000. Increased stablecoin transactions indicate higher demand for digital assets.
On Nov. 21, stablecoin inflows to exchanges reached a record $9.7 billion, just two weeks before Bitcoin surpassed $100,000. The surge in stablecoin adoption reflects the increasing use of crypto wallets for on-chain transactions.
Regulatory Framework for Stablecoins Expands
As stablecoins become more integrated into the financial system, regulations are being developed to address their role in payments, remittances, and financial access. The Coinbase report also states that a framework for stablecoin adoption is taking shape.
Binance CEO Richard Teng and Hashed CEO Simon Kim pointed to stablecoins as a major trend for 2025. Above all, as crypto adoption expands, regulatory policies and institutional participation are expected to shape the use of mobile wallets and stablecoins.
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