Standard Chartered analysts have warned that rising stablecoin velocity could reduce the need for new tokens, even as transaction volumes increase. The bank has reported that stablecoins velocity has doubled over the past two years due to new payment use cases and increased traditional finance activity. Despite these concerns, Standard Chartered maintains its prediction that the stablecoin market will reach $2 trillion by late 2028. The surge in velocity has been driven mainly by Circle's USDC (USDC), the second-largest stablecoin by market capitalization after Tether's USDt (USDT).