CoinGecko：商品支持的稳定币市值增加了 18.1%，截至 2024 年 8 月达到 $1.3B

Coingecko 的数据显示，截至 2024 年 8 月，大宗商品支持的稳定币市值增加了 18.1%，达到 13 亿美元。然而，它们仅占法定稳定币总市值的 0.8%。

Commodity-backed stablecoins have increased their market capitalization by 18.1%, reaching $1.3 billion as of August 2024, according to Coingecko. Yet, they make up only 0.8% of the total market cap of fiat-backed stablecoins.

Coingecko 的数据显示，截至 2024 年 8 月，大宗商品支持的稳定币市值增加了 18.1%，达到 13 亿美元。然而，它们仅占法定稳定币总市值的 0.8%。

Since 2014, firms such as Tether and Circle have issued tokenized currencies backed by real-world financial assets such as bank deposits and short-term notes. Users can onboard into crypto directly through these firms, converting real-world deposits into newly minted stablecoins.

自 2014 年以来，Tether 和 Circle 等公司发行了由银行存款和短期票据等现实金融资产支持的代币化货币。用户可以通过这些公司直接进入加密货币领域，将现实世界的存款转换成新铸造的稳定币。

Conversely, they can also redeem the stablecoins back into fiat currency. However, not all stablecoins are fully backed by tangible real-world assets. Decentralized stablecoins such as DAI and AMPL maintain their peg through mechanisms such as over-collateralization of crypto assets or rebasing, allowing stablecoins to be minted permissionlessly, while also maintaining their peg without a centralized entity, writes Coingecko.

相反，他们也可以将稳定币兑换回法定货币。然而，并非所有稳定币都完全由现实世界的有形资产支持。 Coingecko 写道，DAI 和 AMPL 等去中心化稳定币通过加密资产超额抵押或变基等机制来维持其锚定汇率，从而允许稳定币在未经许可的情况下铸造，同时在没有中心化实体的情况下也能保持其锚定汇率。

Despite growth, these tokens need more adoption and liquidity issues.

尽管有所增长，但这些代币需要更多的采用和流动性问题。

Tether Gold (XAUT) and PAX Gold (PAXG) are prominent examples, but their trading volumes are low compared to fiat-backed stablecoins such as USDT and USDC. This hinders their broader market acceptance.

Tether Gold (XAUT) 和 PAX Gold (PAXG) 是突出的例子，但与 USDT 和 USDC 等法定支持的稳定币相比，它们的交易量较低。这阻碍了它们更广泛的市场接受度。

Commodity-backed stablecoins are affected by fluctuations in underlying commodity prices.

大宗商品支持的稳定币受到基础大宗商品价格波动的影响。

Changes in gold or other commodities impact their stability and perceived value. The regulatory landscape is also evolving, with uncertainties about storage, verification, and auditing posing risks. Recent discussions highlight the need for clearer regulatory frameworks.

黄金或其他商品的变化会影响其稳定性和感知价值。监管环境也在不断变化，存储、验证和审计的不确定性带来了风险。最近的讨论强调需要更清晰的监管框架。

Maruf Yusupov, co-founder of Deenar Gold-backed Stablecoin, commented, “For stablecoins to remain valuable, the community that backs their reserves must maintain stability. Recently, the global market has triggered volatility in several industries, with commodity prices buckling under macroeconomic trends.

Deenar 黄金支持的稳定币联合创始人 Maruf Yusupov 评论道：“为了让稳定币保持价值，支持其储备的社区必须保持稳定。近期，全球市场引发多个行业波动，大宗商品价格受宏观经济走势影响而出现波动。

When the commodities that are supposed to provide the reserve backing for stablecoins are shrinking, this will further strain the underlying tokens. According to Coingecko’s latest report, commodity-backed stablecoins soared 18.1% this year to $1.3 billion.

当本应为稳定币提供储备支持的商品正在萎缩时，这将进一步对基础代币造成压力。根据 Coingecko 的最新报告，商品支持的稳定币今年飙升 18.1% 至 13 亿美元。

This confirms the steady growth of these unique tokens. To match the reported valuation of these stablecoins, issuers will need more liquid capital to top up the differences in this shrunken commodity serving as their reserve.

这证实了这些独特代币的稳定增长。为了匹配这些稳定币的报告估值，发行人将需要更多的流动资金来弥补这种作为其储备的萎缩商品的差异。

This is a major challenge as it can destabilize issuers' operational models and might ultimately result in unwholesome practices that can cast a bad light on these stablecoin firms”. Despite steady growth, these stablecoins face challenges that may affect their future.

这是一个重大挑战，因为它可能会破坏发行人运营模式的稳定，并最终可能导致不健康的做法，从而给这些稳定币公司带来负面影响。”尽管稳定增长，这些稳定币仍面临可能影响其未来的挑战。

Addressing market volatility, regulatory uncertainties, and liquidity issues is crucial for wider acceptance.

解决市场波动、监管不确定性和流动性问题对于更广泛的接受至关重要。

Top 5 Highlights of CoinGecko’s State of Stablecoins: 2024

CoinGecko 稳定币状况的 5 大亮点：2024 年

Since 2020, the total value of the top 10 fiat-backed stablecoins has increased significantly. During the 2020-2021 bull market, it grew by 3,121.7%, rising from $5 billion at the beginning of 2020 to $181.7 billion in March 2022.

自2020年以来，前10名法币支持的稳定币总价值大幅增长。 2020-2021年牛市期间增长了3,121.7%，从2020年初的50亿美元增至2022年3月的1817亿美元。

After Terra and its UST stablecoin collapsed, the stablecoin market value dropped but started to recover in November 2023. By August 2024, the total value of fiat-backed stablecoins had grown by 35.4%, reaching $161.2 billion from $119.1 billion.

Terra 及其 UST 稳定币崩溃后，稳定币市值下降，但在 2023 年 11 月开始恢复。到 2024 年 8 月，法币支持的稳定币总价值增长了 35.4%，从 1,191 亿美元达到 1,612 亿美元。

The top three US stablecoins—Tether (USDT) with $114.4 billion, USDC with $33.3 billion, and Dai (DAI) with $5.3 billion—make up 94% of the total stablecoin market. USDT remains the most dominant, holding 70.3% of the market.

美国排名前三的稳定币——Tether (USDT)（1,144 亿美元）、USDC（333 亿美元）和 Dai (DAI)（53 亿美元）——占据了稳定币市场总额的 94%。 USDT 仍然占据主导地位，占据 70.3% 的市场份额。

As of August 1, 2024, commodity-backed stablecoins were worth $1.3 billion. Tether Gold (XAUT) and PAX Gold (PAXG) make up 78% of this value, even with new coins like Kinesis and VeraOne joining. Although commodity-backed stablecoins have grown 212 times since 2020 and increased by 18.1% in 2024, they still only make up 0.8% of the fiat-backed stablecoin market.

截至 2024 年 8 月 1 日，大宗商品支持的稳定币价值 13 亿美元。即使加入了 Kinesis 和 VeraOne 等新代币，Tether Gold (XAUT) 和 PAX Gold (PAXG) 仍占该价值的 78%。尽管大宗商品支持的稳定币自 2020 年以来已经增长了 212 倍，并在 2024 年增长了 18.1%，但它们仍然只占法币支持的稳定币市场的 0.8%。

By August 1, 2024, stablecoins made up 8.2% of the entire cryptocurrency market. In early 2020, stablecoins were much smaller, only about 2% of the global market. They grew to 6% at the beginning of the DeFi boom.

截至 2024 年 8 月 1 日，稳定币占整个加密货币市场的 8.2%。 2020 年初，稳定币规模要小得多，仅占全球市场的 2% 左右。在 DeFi 热潮开始时，这一比例增长至 6%。

The top 10 stablecoins have 8.7 million users.

排名前十的稳定币拥有 870 万用户。

The top three—USDT, USDC, and DAI—make up 97.1% of all users. USDT has the most

前三名——USDT、USDC、DAI——占所有用户的 97.1%。 USDT 最多