Crypto Payment Trends 2024: Lightning Network Surges, TRON Tops Bitcoin
Cryptocurrency payment trends in 2024 saw significant shifts, with Lightning Network's use surging by 39.1% and TRON surpassing Bitcoin in transaction volume. Stablecoins, led by USDT, dominated commercial payments, while the US remained the most active country in crypto payments.
The Lightning Network processed 15.4% of all BTC transactions in 2024, a notable increase from previous years. Meanwhile, stablecoins accounted for 35.5% of crypto-asset commercial payment transactions, with USDT leading the pack at 97.2%. The US led in crypto payment activity, representing 21% of all paid orders.
In terms of currency preference, 71.43% of merchants opted for euro settlements, while 16.7% chose stablecoins. USDT and USDC held a dominant position in stablecoin payments, though their combined share decreased from 91% to 83% due to increasing competition. Notably, Ripple's RLUSD experienced rapid growth, reaching a market cap of nearly $800 million.
TRON emerged as the most used network for payments in 2024, representing 31.5% of transactions and surpassing Bitcoin. USDC saw the highest growth among stablecoins, with an 86.9% increase in use.
Looking ahead to 2025, the adoption of Layer 2 solutions and networks like Solana and TRON is expected to enhance cryptocurrency payment efficiency and scalability. Stablecoins, bolstered by regulatory compliance like MiCA in Europe, are poised to strengthen their position as the preferred payment method.
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