Employees of the research company Bernstein Research forecast a 2140% growth in the market capitalization of stablecoins.
According to analysts, the market capitalization of stable cryptocurrencies will reach $2.8 trillion in five years. The value of coins in circulation will significantly increase due to PayPal’s stablecoin PYUSD recently launched by the firm.
From July 12 to August 6, 2023, the stablecoin market lost $1.53 billion. Hence, it becomes evident that the circulating supply of coins will significantly increase, primarily due to PYUSD. According to Bernstein Research employees, this will primarily occur because PayPal USD will be widely utilized as a means of payment.
