“We see the potential for institutional investors to hold less USDC given the opportunity cost of holding quasi-cash that doesn’t offer a yield. We also see retail holding less of its fiat at Coinbase since it doesn’t get a yield. As such, we see the potential for USDC balances and fiat balances to decline for Coinbase,” JPMorgan wrote.
Juiced USDS Yields Woo Solana Traders to Sky’s Stablecoin
The heady growth is about as preordained as anything could be in DeFi. Sky is spending $2 million a month...