Bank for International Settlements report: Cryptocurrency speculation dominates $600 billion in cross-border payments
According to online reports, the Bank for International Settlements report stated that speculative activity is still closely related to global financing rates, highlighting the growing "interoperability" between cryptocurrencies and traditional finance. Research released by the Bank for International Settlements on May 8 found that in the second quarter of 2024 (the last observation period covered by the analysis), cross-border payments using the two largest cryptocurrencies, Bitcoin and Ethereum, and the two largest stablecoins, USDT and USDC, totaled approximately US$600 billion.
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