USDC 超越 Tether 领先稳定币交易量

Visa数据显示，Circle的USDC稳定币在交易量上已超过Tether的USDT，成为2024年市场领导者。Visa调整后的指标旨在消除人为通胀造成的扭曲，显示USDC自1月份以来占据了总交易量的50%。

Circle's USDC Surges Ahead of Tether as Transaction Volume Leader

Circle 的 USDC 超越 Tether 成为交易量领先者

In a groundbreaking development, Circle Internet Financial's stablecoin, USDC, has dethroned Tether's USDT as the market leader in transaction volume, according to data meticulously compiled by Visa Inc. This seismic shift belies expectations and challenges the long-held dominance of USDT.

根据 Visa Inc 精心编制的数据，Circle Internet Financial 的稳定币 USDC 取得了突破性的进展，取代了 Tether 的 USDT，成为交易量市场领先者。这一巨大转变违背了预期，挑战了 USDT 的长期主导地位。

Visa's meticulously crafted stablecoin metric, developed in collaboration with Allium Labs, endeavors to present an accurate representation of the stablecoin market, devoid of "potential distortions" stemming from inorganic activity and artificial inflationary practices. The recently launched dashboard on Visa's website transparently showcases this data.

Visa 与 Allium Labs 合作开发的精心设计的稳定币指标，致力于准确反映稳定币市场，避免因无机活动和人为通胀做法而产生的“潜在扭曲”。 Visa 网站上最近推出的仪表板透明地展示了这些数据。

The data unveils Circle's USDC aggressively capturing market share since the onset of 2024. Last week alone, USDC recorded a staggering $456 billion in transaction volume, dwarfing Tether's USDT, which managed only $89 billion. Moreover, USDC has commanded an impressive 50% of total transactions since January.

数据显示，自 2024 年以来，Circle 的 USDC 积极抢占市场份额。仅上周，USDC 的交易量就达到了惊人的 4560 亿美元，令 Tether 的 USDT 相形见绌，后者仅管理 890 亿美元。此外，自 1 月份以来，USDC 已占据总交易量的 50%，令人印象深刻。

Visa, which forged a strategic partnership with Circle in 2020, refrained from disclosing the factors driving the surge in USDC usage. However, industry experts speculate that differences in their respective use cases may hold the key.

Visa 于 2020 年与 Circle 建立了战略合作伙伴关系，但没有透露推动 USDC 使用量激增的因素。然而，行业专家推测，各自用例的差异可能是关键。

"While USDT enjoys wider acceptance outside the US as a dollar-based store of value, USDC finds greater utility within the US as a transaction currency," observed Noelle Acheson, the esteemed author of the "Crypto Is Macro Now" newsletter. This divergence could potentially account for the observed disparity in transaction volumes. Tether declined to provide an immediate response to a request for comment.

“虽然 USDT 作为一种以美元为基础的价值储存手段在美国以外得到了更广泛的接受，但 USDC 在美国作为一种交易货币却具有更大的效用，”《加密货币现在是宏观的》时事通讯的受人尊敬的作者诺埃尔·艾奇逊 (Noelle Acheson) 表示。这种差异可能是观察到的交易量差异的原因。 Tether 拒绝立即回应置评请求。

Stablecoins, as their name suggests, are cryptocurrencies engineered to maintain a stable price relative to a fiat currency, often the US dollar. They serve as vital conduits for traders to seamlessly transfer funds into and out of tokenized assets. Additionally, they find widespread application in payments, particularly for cross-border remittances.

顾名思义，稳定币是一种加密货币，旨在维持相对于法定货币（通常是美元）稳定的价格。它们是交易者将资金无缝转入和转出代币化资产的重要渠道。此外，它们在支付领域也有广泛的应用，特别是跨境汇款。

While stablecoin transaction data is readily available on public blockchains, its interpretation poses challenges. As Cuy Sheffield, Visa's head of crypto, succinctly put it in a recent blog, "Stablecoins can be employed across a diverse range of use cases, with transactions initiated either manually by users or programmatically through bots."

虽然稳定币交易数据在公共区块链上很容易获得，但其解释却带来了挑战。正如 Visa 加密货币业务主管 Cuy Sheffield 在最近的博客中简洁地指出的那样，“稳定币可以用于多种用例，交易可以由用户手动启动，也可以通过机器人以编程方式启动。”

When isolating transactions not associated with bots, the total transfer volume over the 30-day period preceding April 24 plummeted from a lofty $2.65 trillion to a more modest $265 billion.

当隔离与机器人无关的交易时，4 月 24 日之前 30 天内的总转账量从高达 2.65 万亿美元暴跌至较为温和的 2650 亿美元。

These findings emerge in the wake of Circle's involvement in the US banking crisis of last year. In December 2023, the value of USDC in circulation plunged from $56 billion to a mere $23 billion, following Circle's disclosure of a significant $3.3 billion exposure to Silicon Valley Bank, the ill-fated lender. Data from DefiLlama indicates a subsequent recovery, with the value of USDC in circulation rebounding to $32.8 billion as of today.

这些调查结果是在 Circle 卷入去年的美国银行业危机之后出现的。 2023 年 12 月，Circle 披露了对硅谷银行（这家命运多舛的银行）的 33 亿美元敞口，之后 USDC 的流通价值从 560 亿美元暴跌至 230 亿美元。 DefiLlama 的数据显示随后的复苏，截至今天，USDC 的流通价值反弹至 328 亿美元。

The ascendancy of USDC as the transaction volume leader is a testament to its growing acceptance and utility in the digital asset ecosystem. As the industry continues to evolve, it remains to be seen whether this shift will endure or if USDT will reclaim its former dominance. Nevertheless, these findings underscore the dynamic nature of the stablecoin landscape and the potential for challengers to disrupt the established order.

USDC 作为交易量领导者的崛起证明了其在数字资产生态系统中日益增长的接受度和实用性。随着行业的不断发展，这种转变是否会持续下去，或者 USDT 是否会恢复以前的主导地位，还有待观察。尽管如此，这些发现强调了稳定币格局的动态性质以及挑战者破坏既定秩序的潜力。