Tether（USDT）是全球加密貨幣商人的安全港

全世界的加密貨幣交易員都認為Tether是他們在動盪時期的安全港。該市場的穩定價格為0.9995美元，沒有大量

Crypto traders around the world consider Tether (USDT) to be their safe harbor during turbulent times. The market sees the token at a stable price of $0.9995 without significant variation as Tether performs as intended to offer token stability during crypto market volatility.

全球加密貨幣交易員認為Tether（USDT）在動盪時期是他們的安全港。該市場看到代幣的穩定價格為0.9995美元，沒有明顯變化，因為Tether在加密市場波動期間的旨在提供令牌穩定性。

Tether began as a specialized tool before it transformed into a crypto market dominator. The token is now the third-largest cryptocurrency since it reached a market cap of $144.11 billion. Only Bitcoin and Ethereum are above it. Tether brought about a fundamental shift that changed the entire market.

Tether首先是一種專門的工具，然後才變成加密貨幣市場主導者。該令牌現在是自1441.1億美元的市值以來的第三大加密貨幣。只有比特幣和以太坊高於它。繫繩帶來了一個根本的轉變，改變了整個市場。

Yesterday’s trading activity showcases the real market action. USD transactions using USDT exceeded $65.72 billion in the last 24 hours. This marks a 13% increase from the previous day.

昨天的貿易活動展示了真正的市場行動。在過去24小時內，使用USDT的美元交易超過657.2億美元。這標誌著前一天增長13％。

Those numbers at the time I would have thought of them seemed unimaginable. The cryptocurrency market continues its regular operation as another typical exchange day.

當時我會想到它們的那些數字似乎是無法想像的。加密貨幣市場繼續正常運營，這是另一個典型的交換日。

According to James Wilson who I interviewed at his trading desk in London he keeps 30% of his funds in Tether. “It’s my safety net. After spotting trading opportunities I move quickly because my position isn’t affected by market slippage and volatility.

據我在倫敦的貿易桌上採訪的詹姆斯·威爾遜（James Wilson）說，他保留了30％的資金。 “這是我的安全網。發現交易機會後，我迅速移動，因為我的位置不受市場滑倒和波動性的影響。

More than 45% of the market capitalization for Tether shows in its daily volume ratio. I have fifteen years of experience in financial market reporting and I have rarely observed a phenomenon like this one. The daily turnover of Tether exceeds forty-five percent of its total issuance which demonstrates the crucial function that this digital currency plays.

繫繩的市值的45％以上顯示了其每日體積比。我在金融市場報告中有十五年的經驗，而且很少觀察到這樣的現象。繫繩的每日營業額超過其總發行的45％，這表明了該數字貨幣發揮的關鍵功能。

The total circulating USDT supply is $144.18 billion. In the past, the billion-dollar milestone felt significant to me. The expansion of Tether’s influence brought substantial changes since it established itself as the dominant source for exchange liquidity across the entire market.

循環的總供應總額為1441.8億美元。過去，十億美元的里程碑對我來說很重要。 Tether的影響力的擴展帶來了重大變化，因為它將自己確立為整個市場的交換流動性的主要來源。

Before Tether became prevalent Maria Sanchez described the process of moving between exchanges as a complete nightmare. “Before USDT entered the market we had to sell cryptocurrencies to our bank accounts. Then the bank transfer process took days before we could complete our purchases again.”

在系ther盛行之前，瑪麗亞·桑切斯（Maria Sanchez）將在交流之間移動的過程描述為一場噩夢。 “在USDT進入市場之前，我們必須向我們的銀行帳戶出售加密貨幣。然後，銀行轉讓過程花了幾天才能再次完成購買。”

Tether manages to stay strong because it works on multiple blockchain networks. Tether (USDT) has full functionality in Ethereum, Tron, and Solana Blockchain networks. The cross-chain functionality of Tether allows it to stay strong even though new stablecoins are appearing in the market.

Tether設法保持強大，因為它在多個區塊鍊網絡上工作。 Tether（USDT）在以太坊，TRON和SOLANA區塊鍊網絡中具有完整的功能。 Tether的跨鏈功能使其可以保持強大，即使新的Stablecoin出現在市場上。

Tether has encountered several controversies throughout its existence. For several years, the project has faced ongoing inquiries regarding its reserve holdings. Company representatives defended the backing of Tether through press conferences which provided evidence but failed to win over all critics.

在整個生存過程中，系特特遇到了一些爭議。幾年來，該項目一直對其儲備金持續不斷詢問。公司代表通過新聞發布會為束縛的支持提供了證據，但未能贏得所有批評家的勝利。

While having dinner with a hedge fund manager last month, he remarked, “The market conducted a years-long, extensive examination of Tether. They cycled through all market phases, from booming to declining markets, and faced several regulatory evaluations. Still, it persists. This speaks volumes.”

他在上個月與對沖基金經理共進晚餐時說：“市場進行了一年的長期檢查。他們在從蓬勃發展到市場下降的所有市場階段都循環，面臨著幾項監管評估。儘管如此，它仍然持久，它仍然存在。這說明了很多。”

The sudden expansion of DeFi depends heavily on the operations of Tether. At the latest blockchain conference, attendees saw USDT integration nearly in every project on display. Tether is the essential factor that drives the complete functioning of DeFi’s protocols and yield farms.

DEFI的突然擴展在很大程度上取決於繫繩的操作。在最新的區塊鏈會議上，與會者幾乎在展出的每個項目中都看到了USDT集成。繫繩是驅動Defi協議並產生農場的完整運作的重要因素。

The market research community has developed intricate tracking mechanisms to monitor Tether transactions. Researcher David Chen explains over coffee how USDT exchange movements indicate pending market turbulence. “The indicator about USDT has become our most dependable signal.”

市場研究界已經開發了複雜的跟踪機制來監視繩脈交易。研究員戴維·陳（David Chen）解釋了USDT交換運動如何表明市場動盪。 “關於USDT的指標已成為我們最可靠的信號。”

A recent period of crypto market declines showcased the fundamental worth of Tether as an asset. USDT trading pairs experienced unprecedented trading activity when market values fell throughout the board. Trading floors switched their operations exclusively to stablecoin strategies until industry stability restored itself.

最近的加密貨幣市場下降了Tether作為資產的基本價值。當市場價值在整個董事會中下降時，USDT交易對經歷了前所未有的交易活動。交易地板將其運營轉換為Stablecoin策略，直到行業穩定恢復自身。

Regulatory headwinds are intensifying. The regulatory debate on stablecoin classification and oversight took place during a New York banking conference. Tether must address the pending industry challenges that will influence both its company direction and regulatory standards for all stablecoins.

監管逆風正在加劇。關於穩定分類和監督的監管辯論是在紐約銀行會議上進行的。繫繩必須應對未決的行業挑戰，這將影響其公司的指導和所有穩定幣的監管標準。

All exchange operators interviewed by me underscore USDT’s role in their operations. A major platform’s CEO shared with me that USDT is the component which keeps their system moving.

我接受采訪的所有交流運營商都強調了USDT在運營中的作用。一位主要平台的首席執行官與我分享，USDT是使系統移動的組件。

This statement came to me under the promise of confidentiality. The market would completely stop trading operations if Tether did not provide liquidity. The statement about USDT importance is a fact not an hyperbole.

這一說法是在保密的承諾下傳給我的。如果Tether不提供流動性，市場將完全停止交易業務。關於USDT重要性的聲明不是誇張。

The adoption of institutions occurs because of stablecoins such as Tether. I observed at a different investor summit how conventional financial representatives paid attention to USDT. USDT offers traditional investors a basic knowledge level that enables them to progress into riskier crypto assets.

由於鏈球菌等穩定劑，因此採用了機構的採用。我在不同的投資者峰會上觀察到傳統的財務代表如何關注USDT。 USDT為傳統投資者提供了一個基本知識水平，使他們能夠進入更風險的加密資產。

The competitive market shows ongoing development patterns. The stablecoin project founder shared with me over drinks that “it’s futile to try beating them because the effort would be nearly impossible right now.” We are searching for our unique position within the entire system. The network effects create too strong influence.

競爭性市場顯示出正在進行的發展模式。 Stablecoin項目的創始人與我分享了飲料，“嘗試擊敗他們是徒勞的，因為現在幾乎不可能的努力是不可能的。”我們正在尋找在整個系統中的獨特位置。網絡效應會產生太大的影響。

The upcoming direction of Tether depends heavily on the expansion of mainstream adoption for crypto assets. The future development of digital assets depends largely on stablecoins because their practical uses will determine how far crypto adoption extends in daily life. The leading role in this story belongs to Tether.

束縛的即將到來的方向在很大程度上取決於加密資產主流採用的擴展。數字資產的未來開發在很大程度上取決於穩定劑，因為它們的實際用途將決定加密採用在日常生活中的範圍。這個故事中的主要角色屬於繫繩。