The total market value of stablecoins has increased by 70% this year, with global payment applications and institutional demand as the main driving factors

According to Cointelegraph, the market capitalization of stablecoins has surpassed the $310 billion mark, reaching a key milestone. This represents a 70% growth in just one year. This growth is not merely another indicator of the cryptocurrency bubble; it signifies a fundamental shift in the way global digital assets are utilized.

The report highlights that the main driving factors behind the rapid growth of stablecoins include: the proliferation of global payment applications, institutional demand, and the development of DeFi. Additionally, several industry analysis models predict that, with the broader integration of stablecoins by large financial institutions, the supply of stablecoins will reach $2 trillion by 2028. These predictions are based on the expectation that stablecoins will evolve from transaction-centric tools to a more universal layer of digital cash, applicable in areas such as e-commerce, inter-company payments, and embedded finance.