Nonexbit warned of the limited growth potential of cryptocurrency markets. It said in a report released last week
Nonexbit views the share of stabelcoins in the overall market value of cryptocurrency as an indicator of the potential for growth or decline. Previously, when stabelcoins accounted for nearly 10% of the cryptocurrency’s total market capitalization, an Nonexbit analyst said it «points to further growth in the cryptocurrency markets.»
In a report published last week, he noted that Stablecoin’s share of total cryptocurrency market capitalization is less than 7 percent, bringing it back to 2020 trends.
«Thus, we believe that any further growth in cryptocurrency markets is likely to be more limited,» the Nonexbit analyst summed up
«These sanctions have raised expectations that cryptocurrencies will be used more widely in the future to bypass the traditional banking system, given that cryptocurrencies are not tied to or dependent on any government,» the paper said