Circle 的 USDC 穩定幣在 2024 年迎來了顯著的捲土重來，乘著監管清晰和市場需求的浪潮

根據 Circle 的第三份年度《USDC 經濟狀況報告》，USDC 的流通供應量在 2024 年同比增長 78%，這是繼 2023 年該代幣市值暴跌近 45% 後的顯著回升。

Despite being the largest stablecoin by market value, Tether (USDT) saw a slower growth rate in 2024 compared to its main competitor, USD Coin (USDC). According to Circle’s “State of the USDC Economy Report,” USDT’s total market value increased by around 50% over the year, rising from USD 91.7 billion at the end of 2023 to reach approximately USD 137.5 billion.

儘管 Tether (USDT) 是市值最大的穩定幣，但與其主要競爭對手 USD Coin (USDC) 相比，Tether (USDT) 在 2024 年的成長率仍較慢。根據 Circle 的《USDC 經濟狀況報告》，USDT 總市值在一年內成長了 50% 左右，從 2023 年底的 917 億美元增至約 1,375 億美元。

In contrast, USDC’s circulating supply surged by 78% year-over-year, reaching about USD 43.9 billion by the end of 2024. This growth was driven by several factors, including increasing regulatory clarity, expanding global partnerships, and a focus on trust and transparency.

相較之下，USDC 的流通供應量較去年同期激增78%，到2024 年底達到約439 億美元。和信任的關注。

While Tether remained the dominant stablecoin in the market, Circle’s strategic initiatives and partnerships fueled USDC's rapid growth, shifting the dynamics within the stablecoin landscape.

雖然 Tether 仍然是市場上占主導地位的穩定幣，但 Circle 的戰略舉措和合作夥伴關係推動了 USDC 的快速增長，改變了穩定幣格局的動態。

Here's a closer look at the key takeaways from the report:

以下是該報告的主要要點的詳細分析：

Largest Stablecoin by Market Value

市值最大的穩定幣

While Tether maintains its position as the largest stablecoin by total market value, its growth rate in 2024 was slower than that of USDC. According to the report, USDT’s market value increased by around 50% over the year. For context, at the end of 2023, Tether's market cap stood at approximately USD 91.7 billion, and it rose to reach about USD 137.5 billion by the end of 2024.

雖然 Tether 保持著總市值最大穩定幣的地位，但其 2024 年的成長速度慢於 USDC。報告顯示，今年以來USDT市值成長了50%左右。就背景而言，截至 2023 年底，Tether 的市值約為 917 億美元，到 2024 年底升至約 1,375 億美元。

This growth can be attributed to a continuation of Tether's long-standing trajectory rather than a recovery from a recent setback. Over the longer term, Tether has experienced a 552% increase in market value since late 2020. In comparison, USDC's market cap increased remarkably by 1,135% during the same period. However, USDC's sharp rally this year contrasts with Tether's steadier expansion.

這種增長可歸因於 Tether 長期軌蹟的延續，而不是從最近的挫折中復甦。長期來看，自 2020 年底以來，Tether 的市值成長了 552%。然而，USDC 今年的大幅上漲與 Tether 的穩定擴張形成鮮明對比。

Regulatory Clarity Fuels USDC Growth

監管清晰度推動 USDC 成長

Circle's report highlights the role of regulatory clarity in driving USDC's recent growth. The stablecoin's issuer, Circle Internet Financial, had become the first MiCA-licensed stablecoin issuer in the European Union by July 2024. This licensing was part of a broader global effort to comply with evolving regulations, which included a focus on obtaining operating licenses in major markets.

Circle 的報告強調了監管清晰度在推動 USDC 近期成長中的作用。該穩定幣的發行人Circle Internet Financial 已於2024 年7 月成為歐盟第一家獲得MiCA 許可的穩定幣發行人。主要領域獲得營運許可證市場。

In addition to the EU license, Circle also concentrated on regional compliance in jurisdictions like the United Kingdom, Brazil, Singapore, and Japan, where clear regulatory frameworks are expected to spur continued growth in 2025.

除了歐盟許可之外，Circle 還專注於英國、巴西、新加坡和日本等司法管轄區的區域合規性，預計這些國家明確的監管框架將在 2025 年刺激持續增長。

Partnerships, Remittances Boost USDC Adoption

合作夥伴關係、匯款促進 USDC 的採用

A Circle spokesperson noted the growing adoption of USDC in regions with high remittance activity, such as Latin America, Africa, and Southeast Asia. In these areas, the digital dollar serves as a faster and less costly alternative to traditional payment systems.

Circle 發言人指出，拉丁美洲、非洲和東南亞等匯款活動頻繁的地區越來越多地採用 USDC。在這些領域，數位美元是傳統支付系統更快、成本更低的替代方案。

According to the report, the number of wallets holding USDC reached record levels in 2024. This growth was fueled by partnerships with organizations like MoneyGram and Chipper Cash, which drove adoption among the unbanked and underbanked, offering seamless conversions between USDC and local currencies across more than 180 countries.

根據該報告，持有USDC 的錢包數量在2024 年達到創紀錄水平。 這一增長得益於與速匯金(MoneyGram) 和Chipper Cash 等組織的合作，推動了無銀行帳戶和銀行服務不足的人群的採用，在更多領域提供了USDC 與當地貨幣之間的無縫兌換。

USDC's on-chain activity was also substantial throughout the year. Notably, monthly transaction volume surpassed the milestone of USD 1 trillion for the first time in November 2024. Total all-time transactions exceeded USD 20 trillion. The stablecoin's infrastructure support now spans 16 blockchains, and Circle’s Cross-Chain Transfer Protocol had processed over USD 20 billion in transactions, facilitating transfers across multiple blockchain networks.

USDC 的鏈上活動全年也都很活躍。值得注意的是，每月交易量於 2024 年 11 月首次突破 1 兆美元大關。該穩定幣的基礎設施支援現已跨越 16 個區塊鏈，Circle 的跨鏈傳輸協議已處理超過 200 億美元的交易，促進了跨多個區塊鏈網路的傳輸。

In summary, despite Tether's large market share, Circle's strategic emphasis on compliance, transparency, and partnerships enabled it to close the gap significantly, with USDC's rapid growth shifting the dynamics in the stablecoin sector.

總而言之，儘管 Tether 擁有巨大的市場份額，但 Circle 對合規性、透明度和合作夥伴關係的戰略重點使其能夠顯著縮小差距，而 USDC 的快速增長改變了穩定幣領域的動態。