Stablecoins最近看到了他們的市值觸摸新高點

一家分析公司已經解釋了與Stablecoins有關的數據如何暗示比特幣市場的頂級。

An analytics firm has explained how the data related to the stablecoins could hint at whether the Bitcoin market top is in or not.

一家分析公司已經解釋了與Stablecoins有關的數據如何暗示比特幣市場的頂級。

Stablecoins Have Seen Their Market Cap Touch New Highs Recently

Stablecoins最近看到了他們的市值觸摸新高點

In a new post on X, the market intelligence platform IntoTheBlock has discussed about the trend in the combined stablecoin market cap. “Stablecoins” refer to cryptocurrencies that are pegged to a fiat currency (with USD being the most popular choice).

在X上的新帖子中，市場情報平台Intotheblock討論了組合穩定市值的趨勢。 “ Stablecoins”是指固定在菲亞特貨幣的加密貨幣（美元是最受歡迎的選擇）。

Generally, investors make use of these assets when they want to avoid the volatility associated with other coins like Bitcoin. Traders who invest into stablecoins, however, usually do so because they plan to venture (back) into the volatile side of the sector.

通常，當投資者想避免與其他硬幣（如比特幣）相關的波動率時，他們會利用這些資產。但是，投資穩定幣的交易者通常這樣做是因為他們計劃冒險（返回）進入該行業的動盪方面。

As such, the supply of these fiat-tied tokens is often considered as the available ‘dry powder’ for Bitcoin and other cryptocurrencies. Given this placement of the stables in the sector, their market cap can be worth keeping an eye on.

因此，這些菲亞式令牌的供應通常被認為是比特幣和其他加密貨幣的可用“乾粉”。鑑於馬s位於該行業中，他們的市值值得關注。

Here is the chart shared by the analytics firm that shows the trend in the stablecoin market cap over the past few years:

這是分析公司共享的圖表，該圖顯示了過去幾年中Stablecoin市值的趨勢：

The above graph shows how the market cap of the stablecoins has been touching new all-time highs (ATHs) recently. Following the latest continuation to the increase, the metric has now hit a whopping $219 billion.

上圖顯示了Stablecoins的市值最近如何觸及新的歷史高峰（ATHS）。在最新延續到這一增長之後，該指標現已達到了2190億美元的收入。

To put things into perspective, the market cap of Ethereum (ETH), the second largest asset in the sector, is just a little over $233 billion. This makes the stables less than $14 billion away from overtaking the smart contract chain.

為了透視事物，該行業第二大資產以太坊（ETH）的市值僅超過2330億美元。這使馬s距離超過智能合約連鎖店不到140億美元。

According to the analytics firm, an interesting pattern can be observed if one pays attention to this indicator’s behavior over the past few cycles. In the chart, it’s clear that the metric’s top last cycle was when it reached $187 billion in April 2022.

根據分析公司的說法，如果人們在過去的幾個週期中關注該指標的行為，就可以觀察到一個有趣的模式。在圖表中，很明顯，該指標的最後一個週期是2022年4月達到1870億美元。

This peak in the market cap of the stables coincided with the start of the bear market. According to IntoTheBlock, the observation can be stated as follows: “Historically, stablecoin supply peaks align with cycle highs.”

馬s市值的峰值與熊市的開始相吻合。根據Intotheblock的說法，該觀察結果可以說：“從歷史上看，Stablecoin供應峰與循環高點保持一致。”

So far in the current cycle, despite the decline in the asset’s price, the indicator has continued to increase. If the previous trend is anything to go by, this could be an indication that Bitcoin and other coins are yet to enter a bear market.

到目前為止，儘管資產價格下跌，但該指標仍在繼續增加。如果以前的趨勢要持續下去，這可能表明比特幣和其他硬幣尚未進入熊市。

That said, the latest market conditions weren’t exactly positive. The most positive scenario occurs whenever both BTC and the stablecoins enjoy an increase in their market caps. In such a period, a net amount of fresh capital inflows are entering into the sector.

也就是說，最新的市場條件並不是完全積極的。每當BTC和Stablecoins都有增加的市值時，最積極的情況就會發生。在這樣的時期，淨數量的新鮮資本流入進入該行業。

At present, though, the stablecoins have been rising while Bitcoin and others have been falling. This could indicate that a rotation of capital has been occurring, rather than fresh inflows.

不過，目前，穩定幣一直在上升，而比特幣和其他人已經下降。這可能表明資本的旋轉已經發生，而不是新鮮的流入。

During the mid-2021 correction, a similar pattern emerged, but the market was able to find its footing and the second half of the rally took place. It now remains to be seen whether something similar would happen for Bitcoin this time as well, or if the market will go the way it did in 2022.

在2021年中期的校正期間，出現了類似的模式，但是市場能夠找到其地面，下半場進行了集會。現在，這次比特幣是否也會發生類似的事情，或者市場將按照2022年的方式進行，還有待觀察。

Bitcoin Price

比特幣價格

At the time of writing, Bitcoin is trading around $84,700, down over 4% in the last seven days.

在撰寫本文時，比特幣的交易約為84,700美元，在過去七天中下降了4％以上。