JPMorgan reiterated in its latest report that it does not believe the stablecoin market will reach a trillion-dollar scale by 2028, estimating the overall market cap to be around $500 billion to $600 billion. Analysts suggest that stablecoin growth is still primarily driven by crypto trading activities, including derivatives trading, DeFi lending, and cash management by crypto institutions, while the expansion of payment scenarios does not necessarily lead to significant stock growth, as increased circulation speed of stablecoins reduces the required stock. Meanwhile, tokenized bank deposits, blockchain payment solutions led by commercial banks, and CBDC projects like the digital euro and digital yuan are providing alternative options for institutions and cross-border payments, potentially limiting stablecoins' share in long-term payments and settlements. (The Block) https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=53812