近年來，穩定市場的令人印象深刻的增長

近年來，穩定幣市場的令人印象深刻的增長與以太坊（以太坊（Ethereum）是占主導地位的區塊鏈平台。

The impressive growth of the stablecoin market in recent years is inextricably linked to Ethereum, the blockchain platform that dominates this sector. Starting from a practically insignificant market value of 124,500 dollars in January 2018, the total capitalization of stablecoins on Ethereum exceeded 124.5 billion dollars by May 2025. This titanic growth underscores how Ethereum continues to be the predominant choice for stablecoin projects.

近年來，穩定幣市場的令人印象深刻的增長與以太坊（以太坊（Ethereum）是占主導地位的區塊鏈平台。從2018年1月的實際市場價值實際上微不足道的市場價值開始，到2025年5月，在以太坊上的穩定幣的總資本超過了1.245億美元。這種泰坦尼克號的增長強調了以太坊如何繼續是Stablecoin項目的主要選擇。

Despite the price of ETH, the native cryptocurrency of Ethereum, having fluctuated in recent months, dropping from over 2,500 dollars to about 1,900 dollars at the time of analysis, the network shows robust signs of expansion in the stablecoin sector. The total stablecoins in circulation on the network have reached a record of 132.4 billion dollars, highlighting not only quantitative growth but also a strengthening of Ethereum’s on-chain foundations.

儘管ETH的價格為ETH，但最近幾個月波動的以太坊的本地加密貨幣在分析時從2500美元下降到約1,900美元，但該網絡顯示出Statablecoin行業擴張的強大跡象。該網絡流通的總穩定劑達到了1324億美元的創紀錄，不僅強調了定量增長，而且增強以太坊的鍊鍊基礎。

Among the stablecoins circulating on the Ethereum network, Tether (USDT) stands out for its dominant position, representing about 52% of the market share with a capitalization of 64.7 billion dollars. Closely following is USD Coin (USDC), with a market value around 37 billion dollars. Alongside these big names, new players are emerging such as Ethena’s USDe (4.5 billion), Sky Dollar’s USDs (3.8 billion) and MakerDAO’s DAI (3.6 billion). These latter ones highlight the vitality and diversification of the Ethereum ecosystem.

在以太坊網絡上流通的穩定幣中，Tether（USDT）以其主導地位脫穎而出，約佔市場份額的52％，資本化647億美元。緊隨其後的是美元硬幣（USDC），市場價值約為370億美元。除了這些知名人士之外，新玩家正在出現，例如Ethena的USDE（45億），Sky Dollar的USDS（38億）和Makerdao的Dai（36億）。這些後者突出了以太坊生態系統的活力和多樣性。

Furthermore, the entry of new institutional players such as BlackRock with BUIDL and PayPal with the stablecoin PYUSD, indicates a growing interest from large traditional companies towards this emerging technology. This dynamic helps to strengthen Ethereum’s position as a reference infrastructure for decentralized digital finance.

此外，新機構參與者的進入，例如與Buidl和Paypal一起使用Stablecoin Pyusd，這表明大型傳統公司對這項新興技術的興趣日益增長。這種動態有助於增強以太坊作為分散數字融資的參考基礎架構的地位。

The expansion of stablecoins is not limited to Ethereum, but rather reflects a global trend that sees this segment of digital currencies rapidly approaching a total capitalization of 240 billion dollars. In just the last weeks of April 2025, the market added over 5 billion dollars, a clear signal of strong demand and capital inflow.

穩定幣的擴張不僅限於以太坊，而是反映了一種全球趨勢，即這一部分數字貨幣迅速接近2400億美元的總資本化。在2025年4月的最後幾週，市場增加了超過50億美元，這是需求強勁和資本流入的明顯信號。

According to the forecasts developed by Citi, the stablecoin market could exceed 2 trillion dollars by 2030, with a maximum estimate reaching up to 3.7 trillion. These figures illustrate the profound impact that stable currencies are having on the evolution of digital financial systems.

根據花旗的預測，到2030年，穩定的市場可能會超過2萬億美元，最高估算值達到3.7萬億美元。這些數字說明了穩定貨幣對數字金融系統發展的深遠影響。

This trend represents not only a potential revolution in the way transactions are conducted and savings are stored, but also a crucial step towards the mass adoption of digital assets easily convertible into fiat currency, thanks to the stability anchored to traditional currencies.

這種趨勢不僅代表了進行交易的潛在革命並存儲了儲蓄，而且還邁出了至關重要的一步，邁出了易於轉換為法定貨幣的數字資產，這要歸功於傳統貨幣的穩定性。

One of the most significant dynamics supporting the growth of stablecoins is the entry of large payment companies into the market. Mastercard has positioned itself as a key player in this scenario, launching an initiative aimed at allowing as many as 150 million merchants worldwide to accept payments in digital dollars.

支持Stablecoins增長的最重要的動態之一是大型支付公司進入市場。在這種情況下，萬事達卡已將自己定位為關鍵參與者，啟動了一項旨在允許全球多達1.5億個商人以數字美元付款的計劃。

This project has been made possible through strategic collaborations with entities like Nuvei, Circle, and Paxos. Thanks to these partnerships, Mastercard has built a solid infrastructure to support on-chain transactions, real-time remittances, and integration of digital wallets. Furthermore, it has paved the way for the issuance of cards directly linked to stablecoins, thus increasing the convenience and accessibility of these currencies.

通過與Nuvei，Circle和Paxos等實體的戰略合作，該項目成為可能。由於這些合作夥伴關係，萬事達卡建立了堅實的基礎架構，以支持鏈交易，實時匯款和數字錢包的集成。此外，它為發行直接與穩定幣相關的卡鋪平了道路，從而增加了這些貨幣的便利性和可訪問性。

Not only Mastercard: other leading companies in digital payments, such as Stripe, have also started to invest in the stablecoin ecosystem. This increase in interest from financial giants further contributes to consolidating Ethereum as the central platform on which the digital payments economy is based.

不僅萬事達卡：其他數字付款領域的領先公司，例如Stripe，也開始投資於Stablecoin生態系統。金融巨頭的利息增加進一步有助於鞏固以太坊作為數字支付經濟所基於的中心平台。

As a result, Ethereum is emerging as the technological pillar of future digital finance, not only for its decentralized infrastructure but also for the ability to handle large volumes of transactions securely and transparently.

結果，以太坊正在成為未來數字融資的技術支柱，不僅是因為其分散基礎設施，而且還可以安全地處理大量交易。

Ethereum is therefore confirmed as the driving force behind the growth of the stablecoin economy. Despite the fluctuations in the price of ETH, the network shows increasing solidity, favored by the possibility of creating and managing stable, reliable, and regulated digital currencies.

因此，以太坊被確認為Stablecoin經濟增長的驅動力。儘管ETH的價格發生了波動，但該網絡表現出越來越多的堅固性，這受到創造和管理穩定，可靠和受監管的數字貨幣的可能性的青睞。

The expansion of the stablecoin market, the participation of large financial institutions, and the roadmap of technological innovation suggest that Ethereum is destined to remain the nerve center of decentralized finance for at least the next decade.

Stablecoin市場的擴展，大型金融機構的參與以及技術創新的路線圖表明，至少在未來十年中，以太坊注定要保持分散財務的神經中心。

Prospects and future opportunities

前景和未來機會

The advancement of the Ethereum-based stablecoin ecosystem offers multiple opportunities: from the simplification of international transactions to the improvement of access to financial services. However, to consolidate this growth, it will be essential to monitor regulatory development and support adoption by the general public.

基於以太坊的Stablecoin生態系統的發展提供了多種機會：從簡化國際交易到改善獲得金融服務。但是，為了鞏固這一增長，必須監測普通大眾的監管發展和支持採用。

In this context, investors, companies, and developers are invited to closely follow the developments of Ethereum and stablecoins, to capitalize on a market destined to profoundly revolutionize the global economic landscape.

在這種情況下，邀請投資者，公司和開發商密切關注以太坊和Stablecoins的發展，以利用一定要深刻徹底改變全球經濟景觀的市場。

In conclusion, Ethereum is not just a blockchain platform: it is the dynamic hub on which the future of stable digital currencies is built, with an impact destined to exceed every expectation in the coming years.

總之，以太坊不僅是一個區塊鏈平台：它是建立穩定數字貨幣未來的動態樞紐，其影響注定要超過未來幾年的所有期望。