加密數據顯示，由USDT和USDC市值增長驅動的Stablecoin市值驅動了220B美元的創紀錄。

加密數據表明，由USDT和USDC市值增長驅動的總穩定市值驅動了220B美元的創紀錄。

Cryptoquant data revealed that the total stablecoin market cap, driven by the growth of USDT and USDC market caps, reached a record high of $220 billion. The platform's researchers noted that Bitcoin's Bull Score Index, which measures market sentiment, jumped from 20 to 50, signaling BTC's break out of the bearish territory into neutral.

加密數據顯示，由USDT和USDC市值的增長驅動的Stablecoin市值總數達到了22.2億美元。該平台的研究人員指出，測量市場情緒的比特幣的公牛得分指數從20升至50，這表明BTC從看跌領域的突破處呈中性。

The data confirmed that rising USDT and USDC market caps over the past 30 days helped increase stablecoin liquidity, thus increasing investment in other digital assets. According to the report, the shift pointed to a renewed appetite for crypto exposure, possibly driven by expectations of favorable macroeconomic conditions or upcoming developments in the crypto space.

數據證實，在過去30天中，USDT和USDC市值的上升有助於增加Stablecoin的流動性，從而增加了對其他數字資產的投資。根據該報告，這一轉變指出了對加密貨幣暴露的新食慾，這可能是由於對宏觀宏觀經濟條件或加密貨幣領域即將發生的發展的期望而驅動的。

The researchers also emphasized that the growth of stablecoin liquidity often preceded BTC price gains, as capital availability fueled trading and investment. Despite initially lagging behind the rapid expansion of stablecoin supply, Bitcoin's recent rebound aligned with broader liquidity trends. The researchers also cautioned that while the increasing Bull Score Index reflected stronger stablecoin liquidity and Bitcoin's breach of on-chain resistance levels, sustained rallies required scores above 60.

研究人員還強調，隨著資本可用性促進了交易和投資，Stablecoin流動性的增長通常在BTC價格上漲之前。儘管最初落後於Stablecoin供應的快速擴張，但比特幣最近的反彈與更廣泛的流動性趨勢保持一致。研究人員還警告說，儘管提高的公牛得分指數反映了更強的Stablecoin流動性和比特幣違反鏈抗性水平，但持續的集會需要得分以上60以上。

Stablecoin market cap surges to a record ATH

Stablecoin市值飆升至創紀錄的ATH

Liquidity is back.

流動性又回來了。

Stablecoin market cap just hit $220B, a new record.

Stablecoin市值剛剛達到220B美元，這是一項新紀錄。

Bitcoin exits bearish phase as capital returns to the market. pic.twitter.com/LbnFpXFspb

隨著資本返回市場，比特幣退出了看跌階段。 pic.twitter.com/lbnfpxfspb

— CryptoQuant.com (@cryptoquant_com) May 2, 2025

- cryptoquant.com（@cryptoquant_com）2025年5月2日

According to CryptoQuant's report, stablecoin liquidity reached a record high of $220 billion, confirming the highest weekly stablecoin market cap growth since February 9th. The growth in liquidity - fueled by the expansion of USDT(+ $2.5B) and USDC(+ $1.2B) market caps over the past week - signaled an influx of capital into the crypto ecosystem.

根據CryptoQuant的報告，Stablecoin的流動性達到了2200億美元的創紀錄，這是自2月9日以來每週最高的Stablecoin市值增長。流動性的增長 - 在過去一周內增加了USDT（+ $ 2.5B）和USDC（+ $ 1.2B）市值的增長，這表明資本湧入加密生態系統。

The 30-day expansion in USDT and USDC market caps was also above trend, with USDT's market cap increasing by $5.3 billion in the last 30 days, while USDC's market cap jumped by $6.0 billion over the same period. Both stablecoins grew above their 30-day moving averages.

USDT和USDC市值的30天擴張也高於趨勢，在過去的30天中，USDT的市值增加了53億美元，而USDC的市值在同一時期增加了60億美元。兩種穩定的穩定性都超過了他們30天的移動平均值。

However, the report also showed that USDT's liquidity on crypto exchanges had not fully recovered. The total value of USDT on exchanges was $38 billion, down by 12% since its $43 billion high reached on February 21, 2025. Conversely, the total value of USDC on exchanges climbed to $6.5 billion - its highest level since March 2025.

但是，該報告還表明，USDT在加密交易所的流動性尚未完全恢復。自2025年2月21日達到430億美元以來，交易所的總價值為380億美元，下降了12％。相反，交易所的總價值升至65億美元，至65億美元 - 自2025年3月以來的最高水平。

Shen Jianguang, the VP and Chief Economist at JD.com, claimed that stablecoin transactions hit over $700 billion every month. Rita Liu, the CEO of RD Technologies, also pointed out growing interest in non-USD stablecoins. However, she acknowledged that the U.S. dollar-backed still dominated with about 99% of the market share. She also mentioned how a CNH-backed stablecoin could gain popularity, especially under Hong Kong's upcoming regulations.

JD.com的副總裁兼首席經濟學家沉貢瓜聲稱，Stablecoin交易每月達到超過7000億美元。 RD Technologies首席執行官Rita Liu還指出，對非USD Stablecoins的興趣日益增加。但是，她承認，美元支持的仍然佔市場份額的99％。她還提到了CNH支持的Stablecoin如何獲得受歡迎程度，尤其是根據香港即將到來的法規。

Bitcoin breaks out of bearish trend following stablecoins' surge

穩定蛋白激增後，比特幣突破了看跌趨勢

The report also suggested that the growth of stablecoin liquidity supported upward pressure on Bitcoin - as capital availability fueled trading and investment, reinforcing the historical link between stablecoin liquidity and Bitcoin market strength. The research team also noted that Bitcoin's Bull Score Index jumped from 20 to 50, signaling BTC's break out of the bearish territory into neutral. However, they also warned that sustained rallies required scores above 60.

該報告還表明，隨著資本可用性加劇了貿易和投資，Stablecoin流動性的增長支持了對比特幣的向上壓力，從而加強了Stablecoin流動性與比特幣市場實力之間的歷史聯繫。研究小組還指出，比特幣的公牛得分指數從20躍升至50，這表明BTC從看跌領域的突破處呈中性。但是，他們還警告說，持續的集會需要超過60的得分。

The platform's analysts further noted that USDC's rising exchange reserves could provide near-term support for crypto prices, as higher reserves enhanced market liquidity. However, USDT's reduced exchange presence suggested that capital may be moving into other assets or off-platform storage.

該平台的分析師進一步指出，由於更高的儲量增強了市場流動性，USDC的不斷增長的交換儲量可以為加密價格提供近期的支持。但是，USDT減少的交換存在表明，資本可能正在進入其他資產或平台儲存。

As per the report, Bitcoin's price trajectory remained tethered to stablecoin dynamics, highlighting liquidity as a critical driver of market health. The researchers noted that analysts should monitor whether the Bull Score Index would completely cross into bullish territory, which signaled stronger investor confidence.

根據該報告，比特幣的價格軌跡仍然束縛在Stablecoin Dynamics上，強調流動性是市場健康的關鍵驅動力。研究人員指出，分析師應監控公牛得分指數是否會完全跨入看漲領土，這表明投資者的信心更強。