According to CoinMeta, analyst Lorenzo Valente stated that stablecoins possess network effects. Since 2021, the number of stablecoins with a market value of over $1 billion has only increased to 12. Currently, the only stablecoins with a market value of over $10 billion are those under the brands of Tether and Circle. He believes that in the future, there may be only two stablecoins dominating the $100 billion market segment, and there might be only one stablecoin remaining in the $500 billion market segment after more than two years.