According to reports from Wu, J.P. Morgan has released a report stating that the stablecoin market is expected to reach $500 billion by 2028, down from previous predictions of $1 trillion. The report points out that stablecoins are primarily used for cryptocurrency trading, DeFi, and collateral, accounting for 94% of the demand; payment demand is only $15 billion, accounting for 6%. J.P. Morgan states that the prospect of stablecoins replacing traditional currency in everyday payments is unrealistic due to limited application scenarios and fragmented regulation, which restricts widespread adoption.