稳定币市场达到历史性里程碑

稳定币市场已达到历史性里程碑，总市值现已超过 2000 亿美元。 Tether (USDT) 仍然以 1,429 亿美元的价格毫无争议地领先，而 USD Coin (USDC) 以 423 亿美元的价格位居第二。

The total capitalization of the stablecoin market has just crossed a historic threshold, reaching a level that had never been seen before.

稳定币市场的总市值刚刚跨过历史门槛，达到了前所未有的水平。

According to the latest data from CoinGecko, the stablecoin market now has a total capitalization of over $200 billion. This represents an increase of more than 100 billion dollars compared to the beginning of the year.

根据CoinGecko的最新数据，稳定币市场目前总市值超过2000亿美元。这比年初增加了超过1000亿美元。

This growth is largely dominated by Tether’s USDT, which alone accounts for $142.9 billion of circulating assets. The stablecoin issued by Tether thus represents more than 70% of the entire stablecoin market.

这一增长主要由 Tether 的 USDT 主导，仅 USDT 就占了 1429 亿美元的流通资产。因此，Tether 发行的稳定币占据了整个稳定币市场 70% 以上的份额。

Behind USDT, we find USD Coin (USDC), which continues to gain ground and now has a capitalization of $42.3 billion. Other major stablecoins include USDe with $6 billion, DAI with $4.5 billion, and FDUSD with $1.9 billion.

在 USDT 背后，我们看到了美元代币（USDC），它持续上涨，目前市值已达 423 亿美元。其他主要稳定币包括 USDe（60 亿美元）、DAI（45 亿美元）和 FDUSD（19 亿美元）。

The exceptional growth of the stablecoin market can be explained in particular by the massive arrival of traditional investors in the crypto world, especially since the launch of Bitcoin ETFs in the United States. Stablecoins, which facilitate easy transitions from traditional currencies to cryptos, are naturally benefiting from this enthusiasm.

稳定币市场的异常增长尤其可以归因于传统投资者大量涌入加密世界，尤其是自比特币 ETF 在美国推出以来。稳定币有助于从传统货币轻松过渡到加密货币，自然会从这种热情中受益。

However, the upcoming entry into force of the MiCA regulation in Europe, scheduled for December 30, 2024, is largely redefining the landscape of stablecoins.

然而，即将于 2024 年 12 月 30 日在欧洲生效的 MiCA 法规将在很大程度上重新定义稳定币的格局。

This framework imposes strict criteria, including electronic licenses and mandatory reserves, which forces issuers to adapt.

该框架施加了严格的标准，包括电子许可证和强制性准备金，迫使发行人适应。

In response to these new constraints, Tether recently announced the halt of its euro stablecoin (EURT) in order to comply with the requirements.

为了应对这些新的限制，Tether 最近宣布暂停其欧元稳定币（EURT）以符合要求。

This decision illustrates the growing challenges for stablecoin issuers in an increasingly strict regulatory environment.

这一决定表明，在日益严格的监管环境下，稳定币发行人面临着越来越大的挑战。

To adapt to this new regulatory landscape, industry players are deploying new strategies.

为了适应这种新的监管环境，行业参与者正在部署新的战略。

Circle, which issues USDC, has notably formed a major partnership with Binance to strengthen its international presence.

发行 USDC 的 Circle 与币安建立了重要合作伙伴关系，以加强其国际影响力。

Meanwhile, Tether is exploring the use of artificial intelligence on the blockchain for new use cases.

与此同时，Tether 正在探索在区块链上使用人工智能的新用例。

In contrast, in the United States, the arrival of Donald Trump and his visible support for cryptos are boosting investor enthusiasm.

相比之下，在美国，唐纳德·特朗普的到来及其对加密货币的明显支持正在激发投资者的热情。

This difference in approach between Europe and the USA could push some crypto companies to favor the American market, which is perceived as more welcoming.

欧洲和美国之间的这种做法差异可能会促使一些加密货币公司青睐美国市场，因为美国市场被认为更受欢迎。

Despite these changes, the record capitalization of the stablecoin market confirms their central role in the crypto ecosystem.

尽管发生了这些变化，稳定币市场创纪录的资本规模证实了它们在加密生态系统中的核心作用。

As Europe tightens its regulatory framework, the efforts of key players to innovate and adapt suggest a new phase of maturation for this rapidly evolving sector.

随着欧洲收紧监管框架，主要参与者创新和适应的努力表明这个快速发展的行业进入了成熟的新阶段。