Banana

<p><em><strong>According to research firm Sacra, stablecoins are making sense in crypto and are estimated to surpass Visa in Q2 2024.&nbsp;</strong></em></p>  
<p>As the crypto market is continuously evolving, stablecoins are supposed to emerge as a strong competitor to Visa in terms of Total Payment Volume (TPV). Sacra, a research firm, anticipated that Stablecoins could defeat Visa in Q2 due to effective cross-border transactions.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-what-scara-says-about-stablecoin-s-performance-strong"><strong>What Scara Says About Stablecoin’s Performance?&nbsp;</strong></h2> 
<p>A blog post by Scara’s co-founder Jan-Erik Asplund revealed that stablecoins are all prepared to surpass Visa in the current quarter. As per the report, stablecoins could surpass Visa in TPL, reaching over $4 Trillion.&nbsp;</p> 
<p>“Most of the banks are shifting to stablecoins to run their payments system,” Asplund added.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> 
<p>Turner Novak, the founder of Banana Capital, took X to communicate the stablecoin’s estimated performance for Q2, 2024.&nbsp;</p> 
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  <p lang="en" dir="ltr">Here’s how we think about separating signal from noise in stablecoin data at Visa – <a href="https://t.co/5k1W5io2Bk">https://t.co/5k1W5io2Bk</a></p>— Cuy Sheffield (@cuysheffield) <a href="https://twitter.com/cuysheffield/status/1786967167415762948?ref_src=twsrc%5Etfw">May 5, 2024</a>
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<p>“Stablecoins are estimated to pass Visa in total payments volume in Q2. Anyone know where most of these volumes are coming from? And what they’re being used for?” he wrote.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-stablecoins-on-the-way-to-establish-settlement-network-strong"><strong>Stablecoins On The Way To Establish Settlement Network</strong></h3> 
<p>On April 25, 2024, Visa, the trusted world leader in digital payment <a href="https://www.thecoinrepublic.com/2023/12/30/increasing-career-opportunities-in-web3-with-technology-growth/" target="_blank" rel="noreferrer noopener">technology</a>, posted a blog about Stablecoin’s move to establish a settlement network.&nbsp;&nbsp;&nbsp;</p> 
<p>According to the graph, in the space of 6 years, stablecoin reached from $1 to over $9,000 by the end of 2023. Visa, on the other hand, hit around $11,000 by 2023.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> 
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<p class="has-text-align-center">Annual volume of BTC/ Stablecoins and other financial systems I Source: Visa&nbsp;</p> 
<p>The situation showcases the firm side and outstanding performance of Stablecoins compared to Visa.&nbsp;&nbsp;</p> 
<p>As per the Visa Onchain Analytics dashboard, stablecoins recorded $2.4 trillion in total transaction volume (TVL), 337.6 million in transaction count, and 26.4 million in Monthly Active Users (MAY) in the last 30 days.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-visa-head-s-reaction-to-the-estimations-strong"><strong>Visa Head’s Reaction To The Estimations&nbsp;</strong></h3> 
<p>Cuy Sheffield, Visa’s head of crypto, has voiced doubt regarding the authenticity of stablecoin transaction data. He suggests that the bulk of on-chain movements, often due to bots and automated mechanisms, do not equate to conventional settlement processes.&nbsp;</p> 
<p>Visa’s new analytics platform indicates that a major portion, up to 90%, of the stablecoin dealings in the past month did not involve real users.</p> 
<p>In April, the aggregate stablecoin transaction volume reached approximately $2.2 trillion. Yet, Visa categorizes a mere fraction, about $149 billion or less than 10%, as legitimate human transactions.&nbsp;</p> 
<p>The remainder is attributed to automated operations and bot-driven activities, commonly originating from centralized trading platforms.</p> 
<p>Visa is a leader in digital payments, offering transactions between consumers, merchants, financial institutions, and government entities across 200 countries. Visa expanded its stablecoin settlement capabilities to the high-performing Solana blockchain and worked with Worldpay and Nuvei.&nbsp;&nbsp;&nbsp;</p>

Stablecoins Estimated To Surpass Visa In TPV In Q2: Is It Possible?

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