The experts believe that 2024 will be a crucial year for Bitcoin in the stablecoin space, as conversations around the cryptocurrency shift from awareness to recognition. They argue that the migration of stablecoin activity to the Bitcoin ecosystem will not only enhance the monetary properties of BTC but also accelerate its global adoption.
By successfully integrating projects dedicated to creating stablecoins based on Bitcoin, the demand for transactions is expected to increase, subsequently attracting new users. These new financial instruments are projected to compete effectively in terms of speed and cost, while also benefiting from the fundamental stability of the Bitcoin infrastructure.
In a separate report, Chainalysis also highlighted the growing significance of stablecoins in cybercriminal transactions, surpassing Bitcoin transactions by a considerable margin between 2022 and 2024.