Report: Stablecoin adoption and market importance will grow rapidly by 2024

According to the cryptocurrency spring report released by Chainalysis, the adoption rate and market importance of stablecoins will increase rapidly in 2024. The number of addresses holding stablecoins and their use in on-chain transactions will greatly increase, making them a global financial asset. Legislative work in the United States, such as the Lummis-Gillibrand Payment Stablecoin Act, aims to establish a regulatory framework for stablecoins by providing safer and clearer guidance for their use, enhancing people's confidence, and encouraging further adoption of stablecoins. The global demand for stablecoins, especially those pegged to the US dollar, highlights their role in financial inclusion and as a bridge between traditional finance and cryptocurrency, despite ongoing discussions about their regulation.