On January 3, JPMorgan Chase stated in its "2026 Outlook" that competition is rapidly emerging between the US dollar and digital assets. The cryptocurrency market capitalization has now exceeded $4 trillion, compared to just $2 trillion at the beginning of 2024. Investors are seeking a more favorable regulatory environment for the cryptocurrency space, particularly in the United States.
Stablecoins are also gaining increasing appeal in the financial services industry. Although their transaction volumes are growing rapidly, only about $70 billion in payments appear to be actually conducted through stablecoin systems. "Overall, we are seeing digital assets gaining favor, partly driven by the marginal demand for alternatives to the US dollar."
