A $6 billion signal is often more valuable than the words “hype” itself.
Pendle says that the stablecoin pools’ nominal trading volume year-to-date has already exceeded $6 billion; at the same time, the current stablecoin supply is about $300 billion. Standard Chartered Bank expects the stablecoin market size to reach $2 trillion by 2028, while Citigroup expects it to reach $1.9 trillion by 2030. BlockBeats reports that banks and payment networks are also preparing to enter this market.
If JPMorgan’s “worst-case” scenario plays out—where stablecoin supply only doubles—then the total addressable market (TAM) for stablecoin-related activity mentioned by Pendle would also double within the next 1.5 years, and expand to 10 times the current level within 4 years. For traders, there are two key things to watch: first, whether stablecoin expansion can continue to drive demand for yield trading; second, whether capital will keep pushing this narrative into the DeFi interest-rate market.
Are you more focused on the demand loop created by stablecoin supply expansion, or more concerned about whether yield-trading narratives like Pendle can continue to be bought by the market?
Source: BlockBeats
#PENDLE
Figure 1: Pendle stablecoin pool trading volume breaks $6 billion within the year · Source: partial screenshot from the page
Image source: https://www.theblockbeats.info/flash/369378
Pendle says that the stablecoin pools’ nominal trading volume year-to-date has already exceeded $6 billion; at the same time, the current stablecoin supply is about $300 billion. Standard Chartered Bank expects the stablecoin market size to reach $2 trillion by 2028, while Citigroup expects it to reach $1.9 trillion by 2030. BlockBeats reports that banks and payment networks are also preparing to enter this market.
If JPMorgan’s “worst-case” scenario plays out—where stablecoin supply only doubles—then the total addressable market (TAM) for stablecoin-related activity mentioned by Pendle would also double within the next 1.5 years, and expand to 10 times the current level within 4 years. For traders, there are two key things to watch: first, whether stablecoin expansion can continue to drive demand for yield trading; second, whether capital will keep pushing this narrative into the DeFi interest-rate market.
Are you more focused on the demand loop created by stablecoin supply expansion, or more concerned about whether yield-trading narratives like Pendle can continue to be bought by the market?
Source: BlockBeats
#PENDLE
Figure 1: Pendle stablecoin pool trading volume breaks $6 billion within the year · Source: partial screenshot from the page
Image source: https://www.theblockbeats.info/flash/369378
