Stablecoins和Binance的主角的兴起

近几个月来，Binance巩固了其作为世界上最主要的加密货币交易所的地位，尤其是在管理Stablecoin储备方面。

In recent months, Binance has solidified its position as the world’s most dominant cryptocurrency exchange, especially when it comes to managing stablecoin reserves. Even as the broader cryptocurrency market faces volatility and challenges, the inflows of stablecoins into Binance have reached unprecedented levels, setting new records for the exchange.

近几个月来，Binance巩固了其作为世界上最主要的加密货币交易所的地位，尤其是在管理Stablecoin储备方面。即使更广泛的加密货币市场面临着波动和挑战，稳定剂的流入量已经达到前所未有的水平，为交易所树立了新的记录。

Stablecoins, digital assets pegged to fiat currencies like the U.S. Dollar, have become crucial during times of market instability, providing stability and a low-risk alternative. Binance, a leader in leveraged trading, has seen the most significant surge in stablecoin deposits, primarily in ERC-20 stablecoins such as USDT (Tether) and USDC (USD Coin).

在市场不稳定时期，稳定的数字资产与诸如美元之类的法定货币挂钩已经变得至关重要，提供了稳定性和低风险的替代方案。 Binance是杠杆交易的领导者，他已经看到了Stablecoin沉积物的最重要的激增，主要是在ERC-20 Stablecoins，例如USDT（Tether）和USDC（USD Coin）。

These stablecoin inflows are not just a measure of increasing liquidity but also highlight a strategic shift toward derivative trading, where traders use stablecoins to build new positions. This article delves into the phenomenon of Binance’s stablecoin reserves, their role in the broader crypto market, and the implications for derivative markets, liquidity, and global trading trends.

这些稳定的流入不仅是衡量流动性增加的衡量标准，而且还突出了朝着衍生品交易的战略转变，在这种交易中，交易者使用稳定者来建立新的职位。本文深入研究了Binance的Stablecoin储备，其在更广泛的加密市场中的作用以及对衍生品市场，流动性和全球交易趋势的影响。

Stablecoins have emerged as one of the most significant innovations in the cryptocurrency world, offering the stability and security that traders and investors need in volatile markets. Binance, being the largest centralized exchange, holds an overwhelming majority of these stablecoin reserves, further solidifying its market dominance.

Stablecoins已成为加密货币界最重要的创新之一，提供了交易者和投资者在波动市场中所需的稳定和安全性。 Binance是最大的集中式交易所，拥有这些稳定储备中的绝大多数，进一步巩固了其市场优势。

Early in 2024, Binance reported that its reserves of stablecoins had surpassed a record-breaking threshold. The exchange now holds over 33 billion dollars in stablecoins, including USDT, USDC, and its own centrally-controlled FDUSD. Out of the total supply of stablecoins on exchanges, which reached 45 billion tokens in early 2024, Binance claims a remarkable 73% share.

2024年初，Binance报道说，其稳定的稳定储备超过了创纪录的阈值。现在，该交易所持有超过330亿美元的Stablecoins，包括USDT，USDC及其自己的中央控制FDUSD。在交易所的总供应总额（2024年初，该股份达到450亿个代币）中，Binance声称有73％的份额。

This dominance is evident, especially when considering derivative trading. Binance has become the main venue for stablecoin usage, mainly because traders use these coins to open leveraged positions, particularly in major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). This is crucial as the crypto market continues to see increasing demand for such instruments amid the ongoing market volatility.

这种优势是显而易见的，尤其是在考虑衍生交易时。 Binance已成为稳定使用的主要场所，主要是因为交易者使用这些硬币打开杠杆位置，尤其是在比特币（BTC）和以太坊（ETH）等主要加密货币中。这至关重要，因为在持续的市场波动中，加密市场继续看到对此类工具的需求不断增长。

One of the most significant trends emerging from Binance’s increasing stablecoin reserves is the pivotal role these assets play in boosting market liquidity. The derivatives market, especially for BTC and ETH, has become more reliant on stablecoins to fuel liquidity and trade execution. When market conditions are uncertain or there is a market drawdown, traders often seek stablecoins as a safe haven. These assets allow them to hedge risks without needing to rely on more volatile assets like BTC or ETH.

Binance不断增长的Stablecoin储备中最重要的趋势之一是这些资产在提高市场流动性中所发挥的关键作用。衍生品市场，尤其是对于BTC和ETH，已更加依赖稳定的市场来促进流动性和贸易执行。当市场条件不确定或市场趋势时，交易者经常寻求稳定的避风港。这些资产使他们可以对冲风险，而无需依靠BTC或ETH等更波动的资产。

According to recent data from Cryptoquant, stablecoin inflows to Binance reached over 47 billion tokens during the last quarter of 2024, setting the stage for peak liquidity. The rise of stablecoins has provided Binance with an effective mechanism for maintaining a robust trading infrastructure. Despite broader market conditions being less favorable, the stablecoin market continues to expand, offering a promising outlook for both centralized and decentralized exchanges.

根据CryptoQuant的最新数据，在2024年最后一个季度，Stablecoin流向二元的代币超过470亿个令牌，为峰值流动性奠定了基础。 Stablecoins的兴起为维护强大的交易基础设施提供了有效的机制。尽管更广泛的市场状况不太好，但Stablecoin市场仍在不断扩大，为集中和分散的交易所提供了有希望的前景。

The significance of stablecoin inflows cannot be overstated, as they provide much-needed liquidity for the broader market. Binance, in particular, has maintained its leadership position by capitalizing on this liquidity boom, allowing traders to take advantage of low-risk trading strategies and increasing access to key trading pairs.

稳定流入的意义不能被夸大，因为它们为更广阔的市场提供了急需的流动性。尤其是Binance，通过利用这种流动性繁荣来维持其领导地位，使交易者能够利用低风险的交易策略并增加对关键交易对的机会。

Stablecoins and Derivative Markets: The Backbone of Leverage Trading

Stablecoins和衍生品市场：杠杆交易的骨干

Binance’s dominance in the stablecoin market has primarily been driven by derivatives traders, who are increasingly relying on these digital assets to establish and adjust positions in leveraged trades. Stablecoins, particularly USDT and USDC, offer a dependable way for traders to enter and exit leveraged positions without worrying about sudden price fluctuations in the underlying assets.

Binance在Stablecoin市场中的主导地位主要是由衍生品交易员驱动的，衍生品交易员越来越依赖这些数字资产来建立和调整杠杆交易的头寸。 Stablecoins，尤其是USDT和USDC，为交易者提供了一种可靠的方式，可以使交易者进入和退出杠杆职位，而不必担心基础资产的突然价格波动。

The importance of stablecoins in derivative markets cannot be overlooked. A large portion of Binance’s stablecoin inflows have been directed toward BTC and ETH derivative contracts, where leverage is key to amplifying returns. In these markets, traders use stablecoins as collateral to increase their exposure to volatile assets, making them more attractive than traditional fiat currencies. This has made stablecoins essential for maintaining healthy trading volumes and a liquid market, even during periods of uncertainty.

稳定市场在衍生市场中的重要性不可忽视。 Binance的大部分稳定流入流入率是针对BTC和ETH衍生合同的，其中杠杆是放大回报的关键。在这些市场中，贸易商使用稳定币作为抵押品来增加其对挥发性资产的影响，从而使其比传统的法定货币更具吸引力。即使在不确定性时期，这也使稳定剂对于维持健康的贸易量和流动市场至关重要。

As of the first quarter of 2024, Binance continues to lead the way in terms of leveraged trading volumes, with stablecoins like USDT and USDC being pivotal to the smooth execution of trades. The exchange has witnessed substantial daily trading volumes of over $17 billion, with stablecoins representing a significant portion of that activity. Binance has also reported that it is the most active platform for trading USDT-based pairs, with daily volumes reaching around $1.67 billion.

截至2024年第一季度，Binance在杠杆交易量方面继续领先，USDT和USDC（USDC）像平稳执行交易的稳定量是关键的。该交易所的每日交易量超过170亿美元，稳定币代表了大部分活动。 Binance还报告说，它是交易基于USDT的最活跃的平台，每日量达到约16.7亿美元。

This dominance in stablecoin trading pairs has allowed Binance to continue attracting traders, even as broader market conditions have slowed down. Stablecoins have effectively insulated the exchange from the fluctuations that have plagued other markets, positioning Binance as a leader in the derivatives market.

Stablecoin交易对的这种优势使Binance能够继续吸引交易者，即使更广泛的市场状况减慢了。 Stablecoins有效地将交换与困扰其他市场的波动相关，将Binance定位为衍生品市场的领导者。

The Role of Stablecoins on BNB Chain and Other Networks

Stablecoins在BNB链和其他网络上的作用

Stablecoins are not only confined to Binance’s centralized exchange. The BNB Smart Chain (BNB Chain), Binance’s

稳定币不仅限于Binance的集中式交流。 BNB智能链（BNB链），Binance's