Analyst: Bitcoin-based stablecoins may rival other stablecoins in speed and cost within the year

CoinShares stated that a stablecoin based on Bitcoin may appear in 2024, and may even "have competitive speed and cost compared to other stablecoins in the industry, while also inheriting the basic stability of the Bitcoin infrastructure."

In its latest outlook report released on January 22, CoinShares explained, "We expect 2024 to be a critical year for Bitcoin in the stablecoin field."

Christopher Bendiksen, Bitcoin research director at CoinShares, and analyst Matthew Kimmel predicted that "a Bitcoin project focused on competing in the modern stablecoin field will become easily accessible this year, and at least in theory, feasible development projects will eventually become available tools for use."