稳定蛋白的总供应已达到历史最高水平，在过去两年中增加了44％。

投资策略将从大规模采用Stablecoins中获利吗？

Author: Ignas

作者：Ignas

Compiled by: Tim, PANews

编译者：蒂姆，潘努斯

The total supply of stablecoins has hit a new all-time high, increasing by 44% over the past two years.

Stablecoins的总供应已经达到了新的历史最高水平，在过去两年中增长了44％。

With mainstream traditional financial institutions now actively deploying the stablecoin market, which investment strategies will profit from the mass adoption of stablecoins?

随着主流传统金融机构现在积极部署Stablecoin市场，哪些投资策略将从大量采用Stablecoins中获利？

For added context, the Trump administration set August as a deadline for passing a stablecoin bill.

为了增加背景，特朗普政府将8月设定为通过一项稳定法案的截止日期。

Previously, an increase in the supply of stablecoins tended to push up cryptocurrency prices as people held them for short periods of time, primarily for speculative trading.

以前，随着人们在短时间内将其持有的加密货币价格的增加往往会推高加密货币价格，主要用于投机交易。

Today, the use of stablecoins has gone beyond speculation. For example, SpaceX uses stablecoins to recover funds from its Starlink sales in Argentina and Nigeria, and artificial intelligence company ScaleAI also uses stablecoins to pay overseas contractors.

如今，使用稳定的人已经超越了猜测。例如，SpaceX使用Stablecoins从其在阿根廷和尼日利亚的Starlink销售中收回资金，而人工智能公司Scaleai还使用Stablecoins向海外承包商支付。

The simplest investment strategy is to bet on the track where mainstream institutions may issue new stablecoins.

最简单的投资策略是押注主流机构可能会发行新的稳定的赛道。

Ethereum, Base, Tron and Solana are the main public chains for the current issuance of stablecoins.

以太坊，基地，Tron和Solana是当前发行Stablecoins的主要公共连锁店。

It is worth noting that although SOL has dominated this round of bull market, the growth of stablecoins on the Solana chain is relatively slow. Currently, only the Base chain has successfully sat on the stablecoin competition table with USDC.

值得注意的是，尽管SOL在这一轮牛市中占据了主导地位，但Solana链上的稳定菌的增长相对较慢。目前，只有基本链成功地坐在USDC的Stablecoin竞赛桌上。

Since the Base chain itself does not issue tokens, Coinbase's stock (NASDAQ: COIN) may become a potential target.

由于基本链本身没有发出代币，因此Coinbase的股票（NASDAQ：COIN）可能会成为潜在的目标。

Another strategy is to wait for the IPO of Circle, the issuer of USDC, or choose to invest in Visa or PayPal stocks.

另一个策略是等待USDC的发行人Circle IPO，或选择投资签证或PayPal股票。

In addition to transactions and payments, stablecoins are also used to earn returns in DeFi:

除交易和付款外，稳定币还用于赚取DEFI的回报：

Therefore, if the supply of stablecoins continues to expand, mature DeFi protocols may become the main beneficiaries:

因此，如果稳定币的供应继续扩展，那么成熟的DEFI方案可能会成为主要受益者：

- Aave/Morpho/Euler/Fluid

- AAVE/Morpho/Euler/Fluid

- Uniswap/Curve

- UNISWAP/曲线

- Maker

- 制造商

-Ethena

公司

Increased stablecoin supply → Pushing up the total locked value (TVL) on the chain → Increased protocol fee income → Increased token valuation (especially tokens with revenue sharing mechanisms)

增加稳定的供应量→提高链条上的总锁定价值（TVL）→增加协议费收入→提高令牌估值（尤其是具有收入分享机制的令牌）

Yield is a key factor affecting the dynamics of the stablecoin market:

产量是影响Stablecoin市场动态的关键因素：

For example: PayPal’s stablecoin PYUSD is now available on Solana and Ethereum, but its growth has been slow.

例如：PayPal的Stablecoin Pyusd现已在Solana和Ethereum上使用，但其增长速度很慢。

Solana once used the high annualized returns of the Kamino protocol to incentivize an increase in the

Solana曾经使用Kamino协议的高年度回报来激励增加