Speculations drive global crypto transfers, but practical use increases

According to a new analysis by the Bank for International Payment Compensation (BIZ), cryptocurrencies are now playing a double role in the global economy: on the one hand, they are speculative objects, on the other hand.

The Message emphasizes that in the second quarter of 2024 cross -border crypto transactions worth almost $ 600 billion were recorded, with the majority of the transactions on Bitcoin, Ethereum, USDT and USDC.

Despite the increasing discussions about the real benefits of cryptocurrencies, BIZ assumes that speculative trade transactions are still the main driver for these enormous volumes. Strong fluctuations in global financing conditions seem to influence crypto transactions, which underlines the increasing interweaving of this asset class with the traditional financial markets.

Nevertheless, application cases are emerging. In regions that suffer from high inflation or high transfer fees, stable coins and small Bitcoin transfers become practical alternatives to conventional banking systems.

The report states that cryptocurrencies are becoming more important, especially in emerging countries, where cross -border transfers are often expensive or slow.

Geographically, the United States and Great Britain dominated Bitcoin and USDC currents, while Turkey and Russia were among the top users of USDT. The BIZ warns that with the increasing spread of cryptocurrencies, the risks associated with volatility, investor behavior and unregulated streams could be a greater challenge for global financial stability.