穩定幣像比特幣和更廣泛的加密貨幣市場一樣發光

加密貨幣市場面臨著一個具有挑戰性的時期，近幾個月來，比特幣和其他加密貨幣的價格下跌。但是，市場的一部分悄悄地違背了這一趨勢

The crypto market has faced a challenging period in recent months, with Bitcoin and other cryptocurrencies experiencing price declines. However, while the spotlight has been on this downturn, another segment of the market has quietly defied this trend and achieved new milestones—stablecoins.

近幾個月來，加密貨幣市場面臨著一個具有挑戰性的時期，比特幣和其他加密貨幣的價格下降。但是，儘管聚光燈一直處於低迷狀態，但市場的另一部分卻悄悄地違反了這一趨勢，並取得了新的里程碑 - 斯塔布萊克斯（Stablecoins）。

As the digital assets continue to gain popularity among investors, the total market capitalization of stablecoins has been steadily rising, reflecting growing adoption and resilience.

隨著數字資產在投資者中的流行，Stablecoins的總市值一直在穩步上升，這反映了採用和韌性的日益增長。

According to CoinGecko's latest data, the market cap of stablecoins stands at $236.7 billion (at the time of writing). This key figure reportedly takes into account fiat-backed stablecoins and crypto-backed, commodity-backed, and algorithmic stablecoins.

根據Coingecko的最新數據，Stablecoins的市值為2367億美元（在寫作時）。據報導，這一關鍵數字考慮了菲亞·支持的穩定股，並以加密貨幣支持，商品支持和算法stablecoins。

Stablecoins, designed to maintain a peg to assets like the U.S. dollar, have become a cornerstone of the crypto economy. They provide a safe haven during volatility, facilitate trading, and enable decentralized finance (DeFi) applications.

Stablecoins旨在維持像美元這樣的資產的釘子，已成為加密經濟的基石。它們在波動期間提供了避風港，促進交易和實現分散融資（DEFI）申請。

Despite the downturn in assets like Bitcoin, the stablecoin market cap has climbed, indicating sustained demand for digital liquidity.

儘管像比特幣這樣的資產下降，但Stablecoin市值已經攀升，表明對數字流動性的需求持續。

USD Coin (USDC), issued by Circle, and Tether (USDT), managed by Tether, remain the frontrunners in this space. USDT, in particular, accounts for a significant portion of the market, with billions in circulation.

由Tether管理的Circle（USDT）發行的USD Coin（USDC）仍然是該領域的領先者。特別是USDT，佔市場的很大一部分，流通量數十億。

Moreover, recent developments suggest that the stablecoin sector—and perhaps the broader crypto market—is maturing.

此外，最近的事態發展表明，穩定行業以及更廣泛的加密貨幣市場正在成熟。

From Tether's push for transparency to Ripple's academic probe into de-pegging risks, these shifts could signal that the crypto ecosystem is gearing up for another bull run.

從Tether的推動透明度到Ripple的學術探測到脫離挑戰風險，這些轉變可能表明加密生態系統正在為另一項公牛奔跑做好準備。

Earlier this month, Tether's CEO announced plans to engage a Big Four auditing firm—such as Deloitte, PwC, EY, or KPMG—to conduct an audit of its reserves.

本月初，Tether的首席執行官宣布計劃與一家四大審計公司（例如Deloitte，Pwc，Ey或畢馬威）互動，以進行審核。

Tether has faced scrutiny over the backing of USDT, with critics questioning whether it holds sufficient dollar reserves to match its issuance. Partnering with a globally recognized auditor could address these concerns, bolstering confidence in USDT and, by extension, the stablecoin market.

Tether在USDT的支持方面面臨審查，批評家質疑它是否擁有足夠的美元儲備以符合其發行。與全球認可的審計師合作可以解決這些問題，增強對USDT的信心，並擴展到Stablecoin市場。

This move might also attract institutional players, who have historically shown interest in crypto but have been hesitant due to Tether's opaque practices.

這一舉動也可能吸引機構參與者，他們歷史上對加密貨幣表現出興趣，但由於繫帶不透明的做法而猶豫不決。

If successful, this initiative could set a precedent, pushing other stablecoin issuers to follow suit and further legitimize the sector.

如果成功的話，這項倡議可能會樹立先例，推動其他Stablecoin發行人效仿並進一步使該行業合法化。

Furthermore, Ripple, in collaboration with Warwick Business School's Gillmore Centre for Financial Technology, is researching a critical issue: stablecoin de-pegging.

此外，Ripple與Warwick商學院的Gillmore金融技術中心合作，正在研究一個關鍵問題：Stablecoin De-Pegging。

De-pegging occurs when a stablecoin loses its intended value, as seen in the dramatic collapse of TerraUSD (UST) in 2022. This research initiative aims to identify vulnerabilities and propose solutions, enhancing the stability of these assets.

當穩定幣失去其預期價值時，就會發生脫鉤，這在2022年Terrausd（UST）的戲劇性崩潰中所見。該研究計劃旨在確定脆弱性並提出解決方案，從而增強這些資產的穩定性。

By addressing such risks, Ripple's efforts could reassure investors and regulators, paving the way for broader adoption.

通過解決此類風險，Ripple的努力可以使投資者和監管機構放心，為更廣泛的採用鋪平了道路。

These developments collectively point to a maturing cryptocurrency market. Stablecoins' resilience amid price declines reflects a shift toward utility over speculation.

這些發展集體指向成熟的加密貨幣市場。價格下降的穩定幣的韌性反映了向猜測轉向效用。

In the face of market adversity, stablecoins have continued to serve their primary function, providing liquidity and stability in a volatile market.

面對市場逆境，Stablecoins繼續服務於其主要功能，在動蕩的市場中提供流動性和穩定性。

Moreover, Tether's transparency push and Ripple's initiative to study and mitigate de-pegging risks attest to the industry's efforts to remediate its weaknesses.

此外，繩索的透明度推動力和Ripple的主動性研究和減輕脫釘風險證明了該行業為解決其弱點而努力的努力。

Insurmountable hype and a lack of fundamental value led to the downfall of several projects and projects in the past year. However, periods of consolidation and infrastructure improvement—like the current stablecoin focus—have historically preceded bull runs.

無法克服的炒作和缺乏基本價值導致了過去一年的幾個項目和項目的衰落。然而，鞏固和基礎設施的改進時期（例如目前的穩定焦點）歷史上已經進行了公牛跑步。

With institutions like Fidelity showing increased interest in crypto and macroeconomic factors like potential interest rate cuts in sight, the crypto market may be quietly preparing for its next upward surge.

隨著諸如富達之​​類的機構表現出對加密貨幣和宏觀經濟因素的興趣，例如潛在的利率降低，加密貨幣市場可能正在悄悄地為其下一個上升趨勢做準備。