The introduction of spot Bitcoin ETFs in the U.S. has led to record trading of the cryptocurrency, while the usage of stablecoins, a category of altcoins, is decelerating.

U.S. Declines, Global Markets See Increase

According to a report by Chainalysis on October 17, the stablecoin transaction rate in the U.S. has dropped. While it accounted for around 50% in 2023, it fell below 40% in 2024. Conversely, stablecoin transactions on exchanges outside the U.S. have exceeded 60%. This trend does not indicate a steep decline in U.S. stablecoin usage but highlights their rapid growth, particularly in emerging markets.

Regulatory Uncertainty Threatens U.S. Leadership

Another major reason for the decline is regulatory uncertainty in the U.S., which threatens its leadership in the stablecoin sector. Companies like Circle note that this has encouraged stablecoin projects to move to regions such as Europe and the UAE.

Conclusion

Regulatory uncertainty and increasing interest in stablecoins in developing countries are transforming the landscape of the global digital asset market. Experts emphasize the necessity to establish a clear regulatory framework to maintain U.S. leadership in this sector.

The global stablecoin market continues its rapid growth, and U.S. regulatory challenges may risk its competitive edge in this market.