Stablecoin

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The supply of stablecoins measured in US dollars is increasing, but this expansion is not a sign that stablecoins are taking over a larger portion of the cryptocurrency market.
This growth primarily reflects the overall increase in total digital asset market value, according to a JPMorgan research report published on Wednesday.
Stablecoins, a type of cryptocurrency typically pegged to the US dollar (though some are pegged to other currencies or assets like gold), noted that their market value has risen to $165 billion, approaching the pre-Terra/Luna crash peak of $180 billion.
JPMorgan analysts led by Nikolaos Panigirtzoglou emphasized that the stablecoin market share relative to the total crypto market capitalization remains largely unchanged.
Several factors are contributing to the growth of this stablecoin market. The significant price increases of Bitcoin and Ethereum this year have increased the overall crypto market cap, leading to increased demand for stablecoins, which are often used as collateral in various crypto transactions.
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In addition, investors are increasingly turning to stablecoins to enter the crypto markets, especially after the launch of spot Bitcoin ETFs in the US in January. Representatives of the traditional financial sector are also increasingly interested in stablecoins.
The emergence of new stablecoin issuers and products, such as Ethena’s USDe, has further fueled growth. Additionally, regulatory clarity provided by Europe’s Markets in Crypto Assets (MiCA) legislation, which came into effect on July 1, has attracted more investors to the stablecoin arena.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/stablecoin-supply-is-increasing-so-what-does-this-mean-heres-jpmorgans-report/" rel="noopener noreferrer nofollow">Stablecoin Supply Is Increasing, So What Does This Mean? Here's JPMorgan's Report</a>

Stablecoin Supply Is Increasing, So What Does This Mean? Here's JPMorgan's Report

Bitcoin Sistemi EN

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