Daily Web3 Users Grew to 18 Million in December 2024: Report

A new report by 51 Insights reveals that Web3 has experienced significant growth in 2024, driven by innovations in blockchain, AI, and decentralized systems.

The "State of Web3 Adoption Report 2025," published on Jan. 13, found that global daily active users in crypto surpassed 18 million in December 2024, marking a 202% increase year-over-year (YOY). Additionally, the report highlighted a 500% surge in memecoin market capitalization, which reached $120 billion by year-end, fueled by celebrity endorsements and easy token creation on blockchain platforms.

Stablecoins also registered impressive growth, recording $24 trillion in transactions — three times PayPal’s annual volume — while 28.5 million unique stablecoin users transferred over $600 million on-chain in November 2024 alone.

The report underscores the evolution of Web3 and crypto as they move from niche to mainstream. Key drivers of this shift include the rising adoption of stablecoins, memecoins, and tokenized artificial intelligence (AI) agents, alongside growing engagement from major consumer brands and Fortune 500 companies.

“Stablecoins, memecoins, and crypto x AI aren’t isolated phenomena — they’re signs of a larger movement toward decentralization,” the report reads.

US Election Impact

The report also highlighted the impact of the US presidential elections, noting that the 2024 presidential election drove around $100 million in monthly volume on Polymarket, thanks to increased mainstream media coverage and political discourse.

This trend was further underscored by the rapid rise of political finance (PolitiFi) memecoins in 2024. In December, the Patriot memecoin — launched following Donald Trump's presidential win on Nov. 6 — reached an all-time high market cap of nearly $82 million.

“There’s been a lot of excitement within crypto due to Trump winning the election, and those abuzz with positive sentiment are turning to PolitFi coins as an indicator of that,” Patrick Gerhart, the President of Banking Operations at Telcoin, told The Defiant in December.

“As the new administration comes into office, we’ll likely see more of these communities turn to PolitiFi tokens as a symbol of excitement over innovative crypto regulation and decreased regulatory scrutiny,” he added.

In addition to these political events, the crypto market in North America was driven by institutional activity in 2024, with 70% of transactions exceeding $1 million, the report noted.