TRM Labs: 99% of stablecoin transactions will be used for legal purposes in 2024
PANews reported on June 17 that according to The Block, the latest report from crypto analysis company TRM Labs shows that 99% of stablecoin transactions in 2024 will be used for legal purposes. Currently, stablecoins account for more than 60% of the total cryptocurrency transaction volume, and inter-enterprise transfers have become its largest and fastest-growing use case. TRM Labs pointed out that stablecoins run on public chains, combined with advanced blockchain analysis technology, are traceable, more transparent than cash, and issuers can "freeze" or "destroy" illegal proceeds. However, TRM also stated that stablecoins account for 60% of illegal transactions in the entire crypto ecosystem, and in its first quarter 2025 crypto crime report, it was also found that despite the increased attention paid to privacy coins, stablecoins are still an asset of choice for illegal activities such as terrorist financing.
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Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday. The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction. “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more
