JPMorgan: Stablecoin supply growth has not eroded cryptocurrency market share

JPMorgan Chase's latest research report pointed out that the supply of stablecoins has been growing, but this expansion does not mean that it is taking over the market share of cryptocurrencies. On the contrary, it is a sign of an increase in the total market value of digital assets. The report also pointed out that the reasons for the growth of the stablecoin market include the sharp rise in the prices of Bitcoin and Ethereum, which has led to an increase in the market value of the crypto market, thereby driving the growth of stablecoin supply. In addition, since the launch of the spot Bitcoin exchange-traded fund (ETF) in the United States in January this year, investors have increasingly used stablecoins to enter the crypto market, which has also boosted demand. (Coindesk)