Stablecoins的總供應超過了2210億美元，占美元M2貨幣供應的1％以上。

Stablecoins曾經是一個利基領域，現在占美元M2的1％以上（包括現金和存款在內的廣泛的錢）

The total stablecoin supply has surpassed $221 billion, making up more than 1% of the U.S. dollar M2 money supply.

Stablecoin供應總額已超過2210億美元，占美元M2貨幣供應量的1％以上。

Stablecoins, once a niche sector, now account for over 1% of the U.S. dollar M2 — a broad measure of money including cash and deposits — money supply, with the market reaching $221 billion after adding nearly $100 billion since 2024, according to data compiled by analysts at OurNetwork.

Stablecoins曾經是一個利基領域，現在占美元M2的1％以上（包括現金和存款在內的廣泛貨幣），自2024年以來增加了近1000億美元的貨幣供應量，市場達到2210億美元。由我們的網絡分析師。

The largest stablecoin, Tether’s (USDT), saw its market share decrease from 73% to 64%, while Circle’s (USDC) increased from 20% to 25%. Together, the two largest stablecoins account for 89% of the total stablecoin market share.

最大的Stablecoin Tether's（USDT）的市場份額從73％下降到64％，而Circle（USDC）從20％增加到25％。總之，兩位最大的穩定股佔總穩定市場份額的89％。

The smallest stablecoins also saw some gains, with synthetic dollar USDe adding $5.9 billion and Usual’s USD0 growing by $1.1 billion. FDUSD, which initially gained traction through promotions, has eventually “lost market share as these incentives ended and competition intensified,” the analysts wrote.

最小的Stablecoins也看到了一些收益，合成美元USDE增加了59億美元，通常的USD0增長了11億美元。分析師寫道，FDUSD最初通過促銷獲得了吸引力，最終“隨著這些激勵措施結束並加劇了競爭的損失”。

Per OutNetwork, USDC’s recent growth has been mainly pumped by adoption beyond Ethereum’s mainnet. The analysts note that the stablecoin issuer saw “explosive growth” of more than $7.7 billion worth of USDC on Solana, “likely fueled by a surge in meme coin trading activity.”

根據Outnetwork，USDC最近的增長主要是由於以太坊的主網以外的採用而促進了收養。分析師指出，穩定發行人在Solana上看到了價值超過77億美元的USDC的“爆炸性增長”，“可能是由於Meme Coin交易活動的激增而推動的。”

On top of that, USDC also saw gains on Ethereum’s layer-2 solutions like Coinbase’s Base and Arbitrum.

最重要的是，USDC還看到了以太坊的第2層解決方案（例如Coinbase的基礎和仲裁）上的收益。

Meanwhile, Circle CEO Jeremy Allaire appears set on strengthening the company’s U.S. presence, arguing that issuers of dollar-pegged tokens should be required to register in the U.S., especially in light of the recent administrative order from President Biden.

同時，Circle首席執行官傑里米·阿萊爾（Jeremy Allaire）似乎著手加強公司的美國在場，認為應要求美元的代幣發行人在美國註冊，尤其是鑑於拜登總統最近的行政命令。

Allaire maintains that there “shouldn’t be a free pass” for stablecoin issuers in the U.S., which could make it more difficult for rival Tether to expand in the country after moving its headquarters to El Salvador.

Allaire堅持認為，在美國的Stablecoin發行人“不應該有免費的通行證”，這可能會使競爭對手的Tether在將總部搬到薩爾瓦多之後更難以擴展該國。