The total market capitalization of stablecoins has grown by 70% this year, with global payment applications and institutional demand being the main driving factors.

BlockBeats News, December 26th, according to Cointelegraph, the stablecoin market capitalization has surpassed the $310 billion mark, reaching a key milestone. This signifies a 70% growth in just one year. This growth is not merely another indicator of a cryptocurrency bubble; it marks a fundamental shift in the global digital asset landscape.

The report points out that the main drivers behind the rapid growth of stablecoins include: global adoption in payment applications, institutional demand, and DeFi development. Furthermore, multiple industry analysis models predict that by 2028, with the broader integration of stablecoins by large financial institutions, the supply of stablecoins will reach $20 trillion. These predictions are based on stablecoins evolving from a transactional tool to a more universal digital cash layer, applied in e-commerce, inter-enterprise payments, embedded finance, and other fields.