Stablecoins will be the driving force of the crypto market. Crypto analyst David Pakman firmly believes that stablecoins are destined to become a mainstream payment means. According to Pakman, the growing use of stablecoins for daily payments indicates the efficiency of blockchain transactions. The expert suggests that we could see a shift from $225 billion held in stablecoins to $1 trillion this year. This growth may seem modest compared to the global financial market, but it is "significant for the crypto industry and an important catalyst for development," the analyst added.
Pakman says that growing capital inflows to the blockchain transaction market benefit the decentralized finance (DeFi) market. Another factor is the high interest in Bitcoin and Ethereum-based exchange-traded funds.
The rise in the volume of stablecoins and their widespread use indicate "a new phase of digital asset adoption by humanity, especially in the payments market." The integration of these tokens into everyday financial operations will set the stage for popularizing the entire cryptocurrency ecosystem, Pakman believes.
Earlier, Paolo Ardoino, the CEO of the US-based Tether, the issuer of the USDT stablecoin, announced the dawn of a new era in the digital currency market. He referred to this phenomenon as the “multiverse of stablecoins”.
