Tether（USDT）是全球加密货币商人的安全港

全世界的加密货币交易员都认为Tether是他们在动荡时期的安全港。该市场的稳定价格为0.9995美元，没有大量

Crypto traders around the world consider Tether (USDT) to be their safe harbor during turbulent times. The market sees the token at a stable price of $0.9995 without significant variation as Tether performs as intended to offer token stability during crypto market volatility.

全球加密货币交易员认为Tether（USDT）在动荡时期是他们的安全港。该市场看到代币的稳定价格为0.9995美元，没有明显变化，因为Tether在加密市场波动期间的旨在提供令牌稳定性。

Tether began as a specialized tool before it transformed into a crypto market dominator. The token is now the third-largest cryptocurrency since it reached a market cap of $144.11 billion. Only Bitcoin and Ethereum are above it. Tether brought about a fundamental shift that changed the entire market.

Tether首先是一种专门的工具，然后才变成加密货币市场主导者。该令牌现在是自1441.1亿美元的市值以来的第三大加密货币。只有比特币和以太坊高于它。系绳带来了一个根本的转变，改变了整个市场。

Yesterday’s trading activity showcases the real market action. USD transactions using USDT exceeded $65.72 billion in the last 24 hours. This marks a 13% increase from the previous day.

昨天的贸易活动展示了真正的市场行动。在过去24小时内，使用USDT的美元交易超过657.2亿美元。这标志着前一天增长13％。

Those numbers at the time I would have thought of them seemed unimaginable. The cryptocurrency market continues its regular operation as another typical exchange day.

当时我会想到它们的那些数字似乎是无法想象的。加密货币市场继续正常运营，这是另一个典型的交换日。

According to James Wilson who I interviewed at his trading desk in London he keeps 30% of his funds in Tether. “It’s my safety net. After spotting trading opportunities I move quickly because my position isn’t affected by market slippage and volatility.

据我在伦敦的贸易桌上采访的詹姆斯·威尔逊（James Wilson）说，他保留了30％的资金。 “这是我的安全网。发现交易机会后，我迅速移动，因为我的位置不受市场滑倒和波动性的影响。

More than 45% of the market capitalization for Tether shows in its daily volume ratio. I have fifteen years of experience in financial market reporting and I have rarely observed a phenomenon like this one. The daily turnover of Tether exceeds forty-five percent of its total issuance which demonstrates the crucial function that this digital currency plays.

系绳的市值的45％以上显示了其每日体积比。我在金融市场报告中有十五年的经验，而且很少观察到这样的现象。系绳的每日营业额超过其总发行的45％，这表明了该数字货币发挥的关键功能。

The total circulating USDT supply is $144.18 billion. In the past, the billion-dollar milestone felt significant to me. The expansion of Tether’s influence brought substantial changes since it established itself as the dominant source for exchange liquidity across the entire market.

循环的总供应总额为1441.8亿美元。过去，十亿美元的里程碑对我来说很重要。 Tether的影响力的扩展带来了重大变化，因为它将自己确立为整个市场的交换流动性的主要来源。

Before Tether became prevalent Maria Sanchez described the process of moving between exchanges as a complete nightmare. “Before USDT entered the market we had to sell cryptocurrencies to our bank accounts. Then the bank transfer process took days before we could complete our purchases again.”

在系ther盛行之前，玛丽亚·桑切斯（Maria Sanchez）将在交流之间移动的过程描述为一场噩梦。 “在USDT进入市场之前，我们必须向我们的银行帐户出售加密货币。然后，银行转让过程花了几天才能再次完成购买。”

Tether manages to stay strong because it works on multiple blockchain networks. Tether (USDT) has full functionality in Ethereum, Tron, and Solana Blockchain networks. The cross-chain functionality of Tether allows it to stay strong even though new stablecoins are appearing in the market.

Tether设法保持强大，因为它在多个区块链网络上工作。 Tether（USDT）在以太坊，TRON和SOLANA区块链网络中具有完整的功能。 Tether的跨链功能使其可以保持强大，即使新的Stablecoin出现在市场上。

Tether has encountered several controversies throughout its existence. For several years, the project has faced ongoing inquiries regarding its reserve holdings. Company representatives defended the backing of Tether through press conferences which provided evidence but failed to win over all critics.

在整个生存过程中，系特特遇到了一些争议。几年来，该项目一直对其储备金持续不断询问。公司代表通过新闻发布会为束缚的支持提供了证据，但未能赢得所有批评家的胜利。

While having dinner with a hedge fund manager last month, he remarked, “The market conducted a years-long, extensive examination of Tether. They cycled through all market phases, from booming to declining markets, and faced several regulatory evaluations. Still, it persists. This speaks volumes.”

他在上个月与对冲基金经理共进晚餐时说：“市场进行了一年的长期检查。他们在从蓬勃发展到市场下降的所有市场阶段都循环，面临着几项监管评估。尽管如此，它仍然持久，它仍然存在。这说明了很多。”

The sudden expansion of DeFi depends heavily on the operations of Tether. At the latest blockchain conference, attendees saw USDT integration nearly in every project on display. Tether is the essential factor that drives the complete functioning of DeFi’s protocols and yield farms.

DEFI的突然扩展在很大程度上取决于系绳的操作。在最新的区块链会议上，与会者几乎在展出的每个项目中都看到了USDT集成。系绳是驱动Defi协议并产生农场的完整运作的重要因素。

The market research community has developed intricate tracking mechanisms to monitor Tether transactions. Researcher David Chen explains over coffee how USDT exchange movements indicate pending market turbulence. “The indicator about USDT has become our most dependable signal.”

市场研究界已经开发了复杂的跟踪机制来监视绳脉交易。研究员戴维·陈（David Chen）解释了USDT交换运动如何表明市场动荡。 “关于USDT的指标已成为我们最可靠的信号。”

A recent period of crypto market declines showcased the fundamental worth of Tether as an asset. USDT trading pairs experienced unprecedented trading activity when market values fell throughout the board. Trading floors switched their operations exclusively to stablecoin strategies until industry stability restored itself.

最近的加密货币市场下降了Tether作为资产的基本价值。当市场价值在整个董事会中下降时，USDT交易对经历了前所未有的交易活动。交易地板将其运营转换为Stablecoin策略，直到行业稳定恢复自身。

Regulatory headwinds are intensifying. The regulatory debate on stablecoin classification and oversight took place during a New York banking conference. Tether must address the pending industry challenges that will influence both its company direction and regulatory standards for all stablecoins.

监管逆风正在加剧。关于稳定分类和监督的监管辩论是在纽约银行会议上进行的。系绳必须应对未决的行业挑战，这将影响其公司的指导和所有稳定币的监管标准。

All exchange operators interviewed by me underscore USDT’s role in their operations. A major platform’s CEO shared with me that USDT is the component which keeps their system moving.

我接受采访的所有交流运营商都强调了USDT在运营中的作用。一位主要平台的首席执行官与我分享，USDT是使系统移动的组件。

This statement came to me under the promise of confidentiality. The market would completely stop trading operations if Tether did not provide liquidity. The statement about USDT importance is a fact not an hyperbole.

这一说法是在保密的承诺下传给我的。如果Tether不提供流动性，市场将完全停止交易业务。关于USDT重要性的声明不是夸张。

The adoption of institutions occurs because of stablecoins such as Tether. I observed at a different investor summit how conventional financial representatives paid attention to USDT. USDT offers traditional investors a basic knowledge level that enables them to progress into riskier crypto assets.

由于链球菌等稳定剂，因此采用了机构的采用。我在不同的投资者峰会上观察到传统的财务代表如何关注USDT。 USDT为传统投资者提供了一个基本知识水平，使他们能够进入更风险的加密资产。

The competitive market shows ongoing development patterns. The stablecoin project founder shared with me over drinks that “it’s futile to try beating them because the effort would be nearly impossible right now.” We are searching for our unique position within the entire system. The network effects create too strong influence.

竞争性市场显示出正在进行的发展模式。 Stablecoin项目的创始人与我分享了饮料，“尝试击败他们是徒劳的，因为现在几乎不可能的努力是不可能的。”我们正在寻找在整个系统中的独特位置。网络效应会产生太大的影响。

The upcoming direction of Tether depends heavily on the expansion of mainstream adoption for crypto assets. The future development of digital assets depends largely on stablecoins because their practical uses will determine how far crypto adoption extends in daily life. The leading role in this story belongs to Tether.

束缚的即将到来的方向在很大程度上取决于加密资产主流采用的扩展。数字资产的未来开发在很大程度上取决于稳定剂，因为它们的实际用途将决定加密采用在日常生活中的范围。这个故事中的主要角色属于系绳。