Currently, the total capitalization of stable cryptocurrencies is $162 billion, then the volume of money supply in the world exceeds $80 trillion. That is, stablecoins occupy only 0.2% of the market. However, in the future this share will only grow, says Jeremy Allaire:
“Most of the largest payment companies in the world are actively using this technology and are exploring ways to expand its use, as the benefits of public networks and stablecoins have become clear to everyone. Imagine what it will be like when 10% of the world’s money is in stablecoins, and lending interactions move from fractional reserve to on-chain lending markets.”
In order for the Circle CEO’s forecast to come true, the annual growth of stablecoin capitalization needs to be approximately 47.7%. Then after 10 years the figure will be 10% of the total money supply.
However, Allaire has a positive view not only on stablecoins, but also on the cryptocurrency sector as a whole. He believes that within 10 years, billions of people will be using cryptocurrencies, and there will be millions of applications.
At the beginning of the year, Jeremy Allaire said that 2024 is a good year for the adoption of legislation to regulate stable cryptocurrencies in the United States.
Source: Bits
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