JPMorgan Chase: Stablecoin market size may reach $500-600 billion by 2028, less than $1 trillion.

Odaily Planet Daily reports that JPMorgan analysts reiterated their prediction that the stablecoin market will not reach a trillion-dollar level in the coming years, and its growth will likely be in line with, rather than significantly surpass, the broader cryptocurrency market. Their report points out that the stablecoin market has expanded by approximately $100 billion this year, surpassing the $300 billion mark, with growth primarily concentrated in the two major stablecoins. This confirms their long-held view that stablecoin growth remains primarily driven by activity within the crypto ecosystem. This year alone, driven by a surge in perpetual futures trading, stablecoin holdings on derivatives exchanges have increased by approximately $20 billion, and this activity remains the main driver of stablecoin supply growth. Therefore, in the coming years, the stablecoin market size is likely to continue growing in tandem with the overall cryptocurrency market capitalization, potentially reaching $500 billion to $600 billion by 2028, far below the most optimistic forecast of $2 trillion to $4 trillion. (TheBlock)