Speculation in Cryptocurrencies Overshadow $600 Billion

According to a recent report by the Bank for International Settlements (BIS), hundreds of billions of dollars in global cross-border cryptocurrency transactions are primarily driven by speculative investment.

The BIS analysis, released on May 8, revealed that the total value of cross-border payments made with the two largest cryptocurrencies, Bitcoin and Ether, as well as the two biggest stablecoins, USDT and USDC, reached approximately $600 billion in the second quarter of 2024, which is the last observation period included in the study.