JPMorgan questions the $2 trillion market size forecast for stablecoins, believing it to be overly optimistic

ChainCatcher news, according to Bloomberg, JPMorgan has expressed skepticism about the $2 trillion market size forecast for stablecoins, calling the figure "too optimistic." Analysts pointed out that the current market size of $260 billion may only achieve a 2-3 times growth in a few years, far below the U.S. Treasury Secretary's earlier expectation of surpassing $2 trillion by 2028. The report noted that although the GENIUS Act has established a regulatory framework for stablecoins, the improvement of payment infrastructure and ecosystems will still take time.

Currently, USDT and USDC account for over 60% of the market share, but stablecoins only represent 1% of global capital flows. Stablecoin analysts believe that due to investors' conservative attitudes towards cash management, it is difficult to position stablecoins as a mainstream liquidity alternative in the short term. JPMorgan emphasized that while stablecoins have the advantage of instant settlement in cross-border payments, merchant acceptance is still higher than that of ordinary consumers.