Bitwise analysts say Bitcoin will hit an all-time high as stablecoin trading volume exceeds Visa trading volume.
Bitwise senior research analyst predicts that Bitcoin could surpass its all-time high in 2024 as the rise of stablecoins overtakes Visa.
Stablecoins Will Leave Payment Giant Visa Behind
They predict that stablecoins will enable higher payment volumes in 2024, that is, more than payments giant Visa. This also shows that tokens tied to the dollar and other assets are one of the “riskiest practices” in the cryptocurrency world, according to Bitwise.
Stablecoin Trading Volume Exceeds $5 Trillion!
That’s pretty impressive considering stablecoin trade volume is over $5 trillion, compared to Visa’s $9 trillion in payments in the third quarter of 2023. This shows that the transformation in payment systems has gained significant momentum.
Finally, asset manager Van Eck predicts that the total market value of stablecoins will reach 200 billion dollars by the end of next year.
