JPMorgan: Growth in Stablecoin Usage May Not Necessarily Drive Market Cap Expansion

Odaily reported that JPMorgan analysts pointed out that despite the rapid growth in stablecoin transaction volume, the overall market size may not expand at the same pace, with the key reason being the increase in "velocity."

The report states that as stablecoins are increasingly adopted in payment scenarios, the same unit of capital is being used more frequently, thereby enhancing overall efficiency and limiting the need for additional stablecoin supply.

The bank maintains a relatively cautious outlook, predicting that the total stablecoin market cap will reach approximately $500 billion to $600 billion by 2028, and considers the market's expectation of a "trillion-dollar scale" to be overly optimistic.