Chainalysis: The adoption rate of stablecoins in the U.S. will slow down in 2024

ChainCatcher news, according to Cointelegraph, Chainalysis stated in its latest report on cryptocurrency adoption trends in North America that the pace of stablecoin adoption in the U.S. has slowed compared to the global market in 2024. This year, there has been a significant shift in stablecoin activity in the U.S. market, with the share of stablecoin trading on U.S.-regulated platforms dropping from about 50% in 2023 to below 40% in 2024. In contrast, the share of stablecoin trading on non-U.S. regulated platforms has surged significantly since 2023, surpassing 60%.

Chainalysis emphasized that this shift does not necessarily indicate a sharp decline in U.S. stablecoin activity, but rather reflects the rapidly expanding role of stablecoins in emerging markets and non-U.S. jurisdictions. Chainalysis noted that as more countries develop regulatory frameworks to encourage stablecoin adoption, U.S. policymakers are facing increasing pressure to take action.