USDT 市值突破 $120B，凸显稳定币在波动的加密市场中不可或缺的作用

全球最大的稳定币 Tether 的 USDT 市值突破 1200 亿美元，标志着一个重大转折点。

The world’s largest stablecoin, Tether (USDT), has achieved a major milestone by surpassing a market cap of $120 billion, highlighting its pivotal role in the volatile cryptocurrency landscape. This phenomenal growth underscores USDT’s dominance in the stablecoin market and its increasing significance in the broader crypto market.

全球最大的稳定币 Tether (USDT) 市值突破 1200 亿美元，实现了一个重要里程碑，凸显了其在动荡的加密货币领域的关键作用。这一惊人的增长凸显了 USDT 在稳定币市场的主导地位及其在更广泛的加密货币市场中日益重要的地位。

According to data from Lookonchain, Tron and Ethereum are the leading networks among the multiple blockchains that contribute to the stablecoin’s vast circulation. On Tron, over 61.49 billion USDT, or 51.17%, is currently circulating, while on Ethereum, 54.48 billion USDT, or 45.34%, is circulating.

Lookonchain的数据显示，Tron和以太坊是多个区块链中领先的网络，为稳定币的广泛流通做出了贡献。 Tron 上目前流通着超过 614.9 亿 USDT，即 51.17%，而以太坊上流通着 544.8 亿 USDT，即 45.34%。

The market cap of $USDT now exceeds $120 billion!

$USDT市值现已突破1200亿美元！

The total circulating supply of $USDT is 120.17B $USDT, of which 61.49B $USDT(51.17%) is circulating on #TronNetwork and 54.48B $USDT(45.34%) is circulating on #Ethereum.https://t.co/5Mzl43My0S pic.twitter.com/UUpm8FM4vC

$USDT 的总流通量为 120.17B $USDT，其中 61.49B $USDT（51.17%）在 #TronNetwork 上流通，54.48B $USDT（45.34%）在 #Ethereum 上流通。https://t.co /5Mzl43My0S pic.twitter.com/UUpm8FM4vC

— Lookonchain (@lookonchain) October 20, 2024

— Lookonchain (@lookonchain) 2024 年 10 月 20 日

USDT’s Rising Demand Highlights Stablecoin’s Crucial Role in Volatile Markets

USDT 需求的增长凸显了稳定币在波动市场中的关键作用

The increasing market cap of USDT points to the growing demand for stablecoins as a safe haven amid the volatility of cryptocurrencies. As a stablecoin pegged to the US dollar, USDT provides stability and liquidity for traders and investors who wish to store their assets in a less volatile asset while remaining within the crypto ecosystem. This has made USDT highly appealing, especially during market downturns, contributing to its exponential growth.

USDT 市值的不断上升表明，在加密货币波动的情况下，对稳定币作为避风港的需求不断增长。作为与美元挂钩的稳定币，USDT 为希望将资产存储在波动性较小的资产中同时保留在加密生态系统内的交易者和投资者提供了稳定性和流动性。这使得 USDT 极具吸引力，尤其是在市场低迷时期，从而促成了其指数级增长。

Recent figures indicate that USDT’s daily trading volume on Tron has surpassed Visa’s average daily volume of $42 billion, reaching an impressive $53 billion. This remarkable achievement highlights the shifting financial landscape and the increasing adoption of digital currencies for large-scale transactions.

最新数据显示，USDT 在 Tron 上的日均交易量已超过 Visa 日均交易量 420 亿美元，达到令人印象深刻的 530 亿美元。这一非凡的成就凸显了金融格局的变化以及数字货币在大规模交易中的日益采用。

Tron’s low transaction fees and efficient network have made it the preferred blockchain for USDT transfers, solidifying its leadership as the primary platform for Tether. In contrast, Ethereum, which was once the most widely used chain for USDT, has seen less activity due to slower transaction speeds and higher gas fees.

Tron 的低交易费用和高效的网络使其成为 USDT 转账的首选区块链，巩固了其作为 Tether 主要平台的领导地位。相比之下，曾经是 USDT 使用最广泛的链以太坊，由于交易速度较慢和 Gas 费用较高，其活动较少。

Stablecoin Market Expansion Fuels Increased Liquidity and Trading Activity

稳定币市场扩张推动流动性和交易活动增加

As the market cap of USDT continues to rise, its impact on the broader crypto market is undeniable. More USDT in circulation typically translates to an increase in liquidity, which can lead to more trading activity and potentially influence price movements for major cryptocurrencies like Bitcoin.

随着USDT市值不断上升，其对更广泛的加密货币市场的影响是不可否认的。更多的 USDT 流通通常会转化为流动性的增加，这可能会导致更多的交易活动，并可能影响比特币等主要加密货币的价格走势。

Historically, rising stablecoin supplies have been linked to increasing buying pressure, as investors often hold stablecoins like USDT before moving them into riskier assets. This influx of資金 can drive market rallies, especially during periods of bullish sentiment towards cryptocurrencies.

从历史上看，稳定币供应量的增加与购买压力的增加有关，因为投资者通常会持有 USDT 等稳定币，然后再将其转入风险较高的资产。这种资金的涌入可以推动市场反弹，尤其是在加密货币看涨情绪期间。

Furthermore, Tether’s واسعة application across multiple blockchains supports its dominance in the stablecoin sector. With Tether maintaining over 70% of the stablecoin market share, the total market cap of stablecoins has also seen a significant rise.

此外，Tether 跨多个区块链的应用支撑了其在稳定币领域的主导地位。随着Tether保持着稳定币70%以上的市场份额，稳定币总市值也出现了大幅上涨。

This level of control raises important questions about Tether’s influence on market liquidity and its role in maintaining the stability of the crypto ecosystem. However, it also presents opportunities for expanding financial inclusion and improving access to capital.

这种程度的控制引发了关于 Tether 对市场流动性的影响及其在维持加密生态系统稳定性方面的作用的重要问题。然而，它也为扩大金融包容性和改善资本获取提供了机会。

But it also comes with some risks, as Tether’s ability to maintain its peg to the US dollar becomes increasingly crucial for the stablecoin market. Any disruptions in Tether’s operations could have far-reaching consequences on the market.

但它也带来了一些风险，因为 Tether 维持与美元挂钩的能力对于稳定币市场变得越来越重要。 Tether 运营的任何中断都可能对市场产生深远的影响。

New Lending Initiative Could Provide Financing Lifeline for Small Commodity Traders

新的贷款计划可以为小商品贸易商提供融资生命线

USDT’s continuous expansion is not limited to blockchain applications alone. As we covered previously, Tether has begun exploring other avenues of growth, including the possibility of providing dollar-based loans for smaller commodities traders.

USDT的不断扩张不仅仅局限于区块链应用。正如我们之前介绍的，Tether 已经开始探索其他增长途径，包括为小型大宗商品交易商提供美元贷款的可能性。

Due to their limited exposure to large-scale financial networks, many smaller traders, especially in developing countries, face immense challenges in accessing conventional financing options. Tether’s entry into this market could provide these traders with faster and more flexible financing solutions, facilitating world trade and financial activities.

由于对大型金融网络的接触有限，许多小型贸易商，尤其是发展中国家的小型贸易商，在获得传统融资选择方面面临着巨大挑战。 Tether 进入这个市场可以为这些交易者提供更快、更灵活的融资解决方案，促进世界贸易和金融活动。

While USDT’s growth presents a promising outlook for stablecoins, questions about Tether’s financial transparency continue to linger. Critics have long raised concerns over whether Tether fully backs its stablecoin printing with reserves, despite recent audits painting a brighter picture.

尽管 USDT 的增长为稳定币带来了光明的前景，但有关 Tether 财务透明度的问题仍然存在。尽管最近的审计描绘了一幅更加光明的前景，但批评者长期以来一直对 Tether 是否完全支持其稳定币印刷储备表示担忧。

As we covered on CNF, a Q2 2024 audit report shows Tether having $118.4 billion in reserves, which are more than offset by liabilities amounting to $5.3 billion. Currently ranking 18th globally among holders of U.S. Treasury bills, Tether has $97.6 billion in these bills.

正如我们在 CNF 上报道的那样，2024 年第二季度的审计报告显示，Tether 拥有 1,184 亿美元的储备金，这足以被 53 亿美元的负债所抵消。目前，Tether 在美国国债持有者中排名全球第 18 位，持有的美国国债价值达 976 亿美元。

Besides maintaining a strong reserve, Tether’s potential involvement in providing dollar-based loans for small commodity traders could have a major impact on world trade

除了保持强劲的储备之外，Tether 可能参与为小商品交易商提供美元贷款，这可能会对世界贸易产生重大影响