According to a recent report by Golden Finance, the supply of Stable Coins continues to rise, but this expansion does not mean that it is taking over the market share of Cryptocurrencies. Instead, it is a sign of the overall increase in market capitalization of digital assets. The report also pointed out that the reason for the rise in the Stable Coin market includes the significant pump in the prices of BTC and Ethereum, which has led to an increase in the market capitalization of the encryption market, thereby driving the rise in Stable Coin supply. In addition, since the launch of the Spot BTC exchange-traded fund (ETF) in January of this year, more and more investors have been using Stable Coins to enter the encryption market, which has also boosted demand.
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JPMorgan: Stablecoin supply rise has not eroded the market share of the Cryptocurrency
According to a recent report by Golden Finance, the supply of Stable Coins continues to rise, but this expansion does not mean that it is taking over the market share of Cryptocurrencies. Instead, it is a sign of the overall increase in market capitalization of digital assets. The report also pointed out that the reason for the rise in the Stable Coin market includes the significant pump in the prices of BTC and Ethereum, which has led to an increase in the market capitalization of the encryption market, thereby driving the rise in Stable Coin supply. In addition, since the launch of the Spot BTC exchange-traded fund (ETF) in January of this year, more and more investors have been using Stable Coins to enter the encryption market, which has also boosted demand.