JPMorgan Chase: The stablecoin market is unlikely to reach a trillion-dollar scale in the coming years

JPMorgan Chase analysts reiterated that they expect the stablecoin market will not reach a trillion-dollar scale in the coming years. They believe that the growth of stablecoins is more likely to align with the overall trends of the cryptocurrency market, rather than experiencing accelerated growth that outpaces the broader market. The analyst team led by Managing Director Nikolaos Panigirtzoglou noted in a report that the stablecoin market has grown by approximately $100 billion this year, surpassing a total of $300 billion, with growth highly concentrated in two major cryptocurrencies. The analysts wrote, "The stablecoin market may expand in the coming years alongside the growth of the total market capitalization of cryptocurrencies, potentially reaching $500 billion to $600 billion by 2028, which is far below the most optimistic external expectations of $2 trillion to $4 trillion."