Study shows that Americans prefer bitcoin to other cryptocurrencies

According to a Chainalysis report, the US cryptocurrency market is experiencing a decline in interest in stablecoins and a rise in the popularity of bitcoin and its derivatives. Analysts note a decrease in the number of transactions with stablecoins on US trading platforms.

Since the beginning of the year, less than 40% of the total volume of crypto transactions recorded on US-regulated crypto exchanges have been made in stablecoins, while in the same period last year, this figure exceeded 50%.

Chainalysis emphasizes that this change in trading volumes does not necessarily mean a sharp decline in the popularity of stablecoins in the United States, but rather demonstrates the importance of the fastest-growing flagship cryptocurrency. Another factor affecting the preferences of crypto traders in the United States may be the absence of a regulatory framework for stablecoins pegged to the dollar.

This not only threatens US interests, but also encourages American crypto investors to invest their assets in alternative digital instruments, experts say. Against this background, the recognition of BTC as an asset worthy of serious investment has begun to grow. In particular, for many corporate investors, bitcoin ETPs and ETFs have become the first step towards deeper interaction with the cryptocurrency market. Ultimately, this could lead to wider investments in blockchain and decentralized finance (DeFi).