数字资产投资者因加密货币而寻求庇护的美国财政产品

由于过去几周在广泛的市场纠正中遭受了加密货币的侵害，数字资产投资者寻求避难所在代币化的美国财政产品中。

Cryptocurrency prices have been battered by a broad-market correction over the past weeks, and digital asset investors have been seeking refuge in tokenized U.S. Treasury products.

在过去的几周中，加密货币的价格受到了广泛的市场更正的打击，数字资产投资者一直在寻求庇护的美国财政产品。

The combined market capitalization of Treasury-backed tokens grew $800 million to hit a fresh all-time record of $4.2 billion on Wednesday, data source rwa.xyz shows.

数据源RWA.xyz显示，周三，国库支持的代币的总市值增长了8亿美元，在周三获得了42亿美元的新历史记录。

Real-world asset platform Ondo Finance's (ONDO) products, the short-term bond-backed OUSG and USDY tokens, climbed to just shy of $1 billion combined, a 53% surge in market value over the past month. BUIDL, the token issued jointly by asset manager BlackRock and tokenization firm Securitize, gained 25% during the same period to surpass $800 million. Asset manager Franklin Templeton's BENJI token expanded to $687 million, a 16% increase, while Superstate's USTB hit $363 million, up more than 63%.

现实世界中的资产平台Ondo Finance's（Ondo）产品，短期债券支持的OUSG和USDY代币，攀升至略高于10亿美元的合计，过去一个月的市场价值增长了53％。由资产经理贝莱德（BlackRock）和令牌化公司共同发行的代币Buidl在同一时期获得了25％的股份，超过了8亿美元。资产经理富兰克林·邓普顿（Franklin Templeton）的本吉（Benji）代币扩大到6.87亿美元，增长16％，而超级巨星的USTB达到3.63亿美元，增长了63％以上。

A notable outlier was Hashnote's USYC, shedding over 20% of its market cap to $900 million, predominantly due to DeFi protocol Usual's decline after investor backlash. The token is the main backing asset of Usual's USD0 stablecoin, which plummeted below $1 billion supply from its January peak of $1.8 billion.

Hashnote的USYC是一个值得注意的离群值，其市值的20％超过20％，至9亿美元，主要是由于投资者反对后的Defi Protocal Suftial的下降。代币是通常的USD0 Stablecoin的主要支持资产，从18亿美元的18亿美元的峰值起，它的供应量低于10亿美元。

"We believe the growth of the tokenized treasury market cap during the recent crypto downturn reflects a flight to quality, similar to how traditional investors shift from equities to U.S. Treasuries during economic uncertainty," head of research at rwa.xyz Brian Choe told CoinDesk.

RWA.XYZ BRIAN CHOE在RWA.XYZ BRIAN研究负责人告诉CoIndesk：“我们认为，在最近的加密货币下滑期间，在最近的加密货币下滑期间，代币化的财政部市场上限的增长反映了飞往质量的飞行，类似于传统投资者在经济不确定性期间从股票从股票转移到美国国债的方式。”

Choe based his analysis on comparing the market cap growth of tokenized treasuries with stablecoins between November and January, when crypto markets rallied, and from February when prices corrected.

Choe的分析基于将令牌化国库的市值增长与11月至1月之间的稳定币的市值增长，当时加密货币市场集会了，从2月起纠正了价格。

During the recent bearish period, tokenized treasuries grew faster than stablecoins, contrary to the bullish phase, when stablecoin growth outpaced the treasury token market.

在最近的看跌时期，与Bullish阶段相反，当Stablecoin的增长超过了国库令牌市场时，代币化的国债比Stablecoins增长快。

"This signals some investors aren't exiting the ecosystem but rather rotating capital into safer, yield-bearing assets until market conditions improve," Choe said.

乔说：“这表明一些投资者并没有退出生态系统，而是将资本旋转到更安全的承重资产之前，直到市场状况改善为止。”