穩定幣供應量創歷史新高，增加了加密產業的流動性

穩定幣——旨在與另一種資產（通常是美元）的價值掛鉤的代幣——的供應量週二創下歷史新高，提振了加密行業的流動性。

The total supply of stablecoins, a type of cryptocurrency designed to maintain a peg to the value of another asset, typically the U.S. dollar, hit a new all-time high on Tuesday, continuing to bolster the liquidity of the crypto market.

穩定幣是一種旨在與另一種資產（通常是美元）價值掛鉤的加密貨幣，其總供應量週二創下歷史新高，繼續增強加密貨幣市場的流動性。

Specifically, the market cap of stablecoins has increased by roughly $10 billion since Election Day, rising from $164.8 billion to $174.7 billion at press time, according to data from blockchain analyticsArtemis.

具體來說，根據區塊鏈分析Artemis的數據，自選舉日以來，穩定幣的市值已增加約100億美元，從截至發稿時的1,648億美元增至1,747億美元。

This marks a 6% increase in the period.

這標誌著該時期增長了 6%。

The supply of stablecoin on various blockchains since 2017. (Artemis)

自 2017 年以來各種區塊鏈上穩定幣的供應情況。

“Stablecoins are one of the few aspects of the onchain economy that have indisputable product market fit. They are globally accessible, transactions are instantaneous, and they offer lower fees for their usage than you see in TradFi,” wrote Alexander Cutler, a core contributor of decentralized exchange Aerodrome, in a Telegram message.

「穩定幣是鏈上經濟中為數不多的具有無可爭議的產品市場契合度的方面之一。它們可以在全球範圍內訪問，交易是即時的，而且它們的使用費用比 TradFi 更低。

“When you offer a better product, adoption is just a matter of time.”

“當你提供更好的產品時，採用只是時間問題。”

Cutler also noted that stablecoins allow holders to engage in various onchain activities, such as lending, providing liquidity and positioning themselves for potential market rallies in the future.

卡特勒也指出，穩定幣允許持有者參與各種鏈上活動，例如借貸、提供流動性以及為未來潛在的市場反彈做好準備。

“The great thing about stables is that there is so much composability,” Cutler added.

「馬厩的偉大之處在於它具有如此多的可組合性，」卡特勒補充道。

Competitors are entering the ring with their own stablecoin offerings.

競爭對手正帶著自己的穩定幣產品進入這個圈子。

Tether, the provider of USDT, is largely responsible for the growth in the stablecoin supply, as the amount of USDT circulating has increased by $7.6 billion since Nov. 5. This new all-time high for stablecoin supply comes as Ripple is preparing to launch its stablecoin for enterprise use cases such as payments, and Binance announced its new product BFUSD, a reward-bearing margin asset for its futures trading users.

USDT 的供應商Tether 對穩定幣供應量的成長負有主要責任，自11 月5 日以來，USDT 的流通量增加了76 億美元。幣時其穩定幣用於支付等企業用例，幣安也宣布推出新產品 BFUSD，這是為其期貨交易用戶提供獎勵的保證金資產。

According to an X post from the team behind Binance Futures early Tuesday, the “rewards will be funded by delta-hedging spot and futures positions to receiving funding fee income, as well as rewards from staking.”

根據幣安合約交易平台背後團隊週二早些時候發布的 X 帖子，“獎勵將通過 Delta 對沖現貨和期貨頭寸來提供，以獲取融資費收入以及質押獎勵。”

Binance’s BFUSD reward mechanism is reminiscent of the synthetic dollar USDe, the flagship product of Ethena, which has seen massive growth. With Binance Labs as an investor, Ethena Labs, the software firm behind USDe, has seen the market cap of its token, which is designed to stay pegged to the U.S. dollar, increase to $668 million since Election Day, up from about $2.8 billion to roughly $3.5 billion at press time.

幣安的 BFUSD 獎勵機制讓人想起合成美元 USDe，Ethena 的旗艦產品，它已經取得了巨大的成長。在 Binance Labs 作為投資者的情況下，USDe 背後的軟體公司 Ethena Labs 發現其與美元掛鉤的代幣市值自選舉日以來已從約 28 億美元增至 6.68 億美元。 。

Despite the rise in stablecoin supply, Aerodrome’s Cutler argues that the increase in the amount of stablecoins is just beginning.

儘管穩定幣供應量增加，但 Aerodrome 的卡特勒認為，穩定幣數量的增加才剛開始。

“Their growth has just begun as it seems clear that their use on blockchains have the ability to disrupt traditional payment networks,” Cutler said. “In particular, the rails now exist to deliver superior FX experiences to consumers and instructions, a market opportunity that can be valued in trillions.”

卡特勒說：“它們的成長才剛剛開始，因為很明顯，它們在區塊鏈上的使用有能力顛覆傳統的支付網路。” “特別是，現在的鐵路線可以為消費者和指令提供卓越的外匯體驗，這是一個價值數萬億美元的市場機會。”