The crypto market rallies

The crypto market has been fueled with positive momentum over the past week as Bitcoin (BTC), Ethereum (ETH) and Dogecoin (DOGE), among other coins, saw an encouraging boost in value. Positive market sentiment in traditional markets has trickled over into the crypto space, off the back of more positive global trade talks and a cooling off of unprecedented tariff announcements. Tentative indications of bullish activity are flickering across many assets, as they remain firmly in the green compared to just a few short weeks ago. 

As the crypto market rallies, we reflect on how market performance, coupled with rising crypto adoption around the world will increase the demand for crypto payments. 

The crypto market rallies

Recent global trade uncertainty and geopolitical tension have been exerting a dampening effect on the crypto market. However, following the announcement of new trade agreements between the U.S. and the UK, coupled with a noticeable de-escalation in U.S. – China trade talks, both traditional and crypto markets have experienced an encouraging uptick in momentum. These developments have helped to alleviate investor anxiety and foster a more optimistic outlook that has spilled over into digital asset markets. As a result, key cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) have seen notable gains, riding the wave of broader market positivity. 

But the shift in sentiment is not just reactionary. It reflects growing confidence that the worst of shockwaves following the recent trade tariff announcements may be behind us, at least in the short term. This optimism has been further reinforced by stronger-than-expected corporate earnings reports and improved liquidity conditions. Institutional investors such as MicroStrategy have also increased their exposure to major assets such as Bitcoin. The company announced that it had acquired 3,459 bitcoins for roughly $285.8 million, or around $82,618 per coin, bringing its total holdings to 531,664 bitcoins. 

Global crypto adoption rises

Beyond crypto market rallies, the broader trend of crypto adoption continues to rise across the globe. By the end of 2024, crypto ownership had surpassed 659 million individuals, a figure that is expected to rise to over 861 million by the end of 2025. As regulatory frameworks become more defined and consumer awareness grows, the role of digital assets is slowly shifting from a speculatory investment and entering the lives and pockets of consumers as a legitimate method of payment. Emerging markets in particular are embracing cryptocurrencies in a bid to mitigate currency instability and limited access to traditional banking services. 

Over the past year there has been a significant uptick in cryptocurrency usage worldwide, but particularly in regions such as India, Central and Southern Asia and Africa. In 2024, India saw the highest growth rates regarding crypto adoption, showing strong positive engagement despite stringent regulatory measures. In Sub-Saharan Africa, some 33% of Nigeria’s population own cryptocurrencies, where digital assets are becoming a hedge against inflation and vital means of managing remittance payments. Europe also shows significant growth, as Central, Northern, and Western Europe (CNWE) received $987.25 billion in on-chain value between July 2023 and June 2024.

Increasing demand for crypto payments

With awareness, adoption and market performance on the rise, consumer demand for greater real-world crypto utility is also accelerating. As more individuals and businesses engage with digital currencies, demand is shifting towards tangible, everyday applications, particularly among millennial and Gen Z users. Consumers are increasingly seeking seamless ways to use cryptocurrencies for payments, remittances and transfers in everyday life, such as travel, gaming and shopping. For example, recent data suggests that 70% of consumers would use crypto payments for travel, hospitality and leisure payments, driven by the convenience, safety and reliability offered by digital currency transactions. 

Stablecoins, in particular, are emerging as a favorite asset class within the trend of utility-driven adoption. Their price stability, pegged to fiat currencies, addresses the volatility concerns that have historically hindered cryptocurrencies’ viability as a payment method. A recent Deloitte report emphasizes how stablecoins are gaining traction among businesses and financial service providers, facilitating cross-border payments, merchant transactions and even treasury operations.  In Europe, stablecoins account for the majority of crypto transaction volume, reflecting their growing role in mainstream commerce. 

ForumPay remains at the forefront of crypto payment innovation, with a commitment to staying ahead of industry trends to ensure merchants and consumers are able to incorporate digital currencies as a legitimate, real-world payment method. For more on crypto trends, or to learn how to integrate crypto payments into your business’ workflow, visit www.forumpay.com, or get in touch with our sales team to discuss any questions you may have.