穩定幣上限的增加能否將比特幣價格推至 10 萬美元？

市場情報平台IntoTheBlock在其周報中透露，穩定幣市值在過去一個月經歷了顯著成長。

The latest on-chain data shows that the stablecoin market is nearing a new milestone in terms of valuation. Here’s how the increasing liquidity could impact Bitcoin and the general cryptocurrency market.

最新的鏈上數據顯示，穩定幣市場的估值正在接近新的里程碑。以下是流動性增加對比特幣和整個加密貨幣市場的影響。

Can the Increasing Stablecoin Cap Push Bitcoin Price to $100,000?

穩定幣上限的增加能否將比特幣價格推至 10 萬美元？

Market intelligence platform IntoTheBlock has revealed in its weekly report that the stablecoin market capitalization has experienced notable growth in the past month. According to the crypto firm, the stablecoin market cap surged past $190 billion this week for the first time since late April 2022 when Bitcoin price was hovering around the $40,000 mark.

市場情報平台IntoTheBlock在其周報中透露，穩定幣市值在過去一個月經歷了顯著成長。據該加密公司稱，穩定幣市值本周自 2022 年 4 月下旬以來首次突破 1,900 億美元，當時比特幣價格徘徊在 4 萬美元大關附近。

This impressive growth comes on the back of Bitcoin’s unprecedented run to a six-figure valuation and the explosion of the total market capitalization to over $3.4 trillion. IntoTheBlock noted that stablecoins have seen increased adoption in the past few weeks, as investors continue to run toward riskier assets like cryptocurrencies.

這一令人印象深刻的成長是在比特幣估值史無前例地達到六位數以及總市值激增至超過 3.4 兆美元的背景下實現的。 IntoTheBlock 指出，在過去幾週，隨著投資者繼續轉向加密貨幣等風險較高的資產，穩定幣的採用率增加。

Specifically, this expansion has primarily been in favor of Tether’s USDT, which continues to completely dominate the stablecoin market. Data from IntoTheBlock shows that USDT holds about 72% of the market share, with a market capitalization of over $133 billion — reminiscent of the crypto market highs of 2021.

具體來說，這種擴張主要有利於 Tether 的 USDT，它繼續完全主導穩定幣市場。 IntoTheBlock 的數據顯示，USDT 佔據約 72% 的市場份額，市值超過 1330 億美元——讓人想起 2021 年加密市場的高點。

Interestingly, the demand for the Tether stablecoin appears to be climbing, with a weekly mint of over $3 billion of new USDT tokens. Most notably, over $13 billion USDT has been minted since the start of November, with the stablecoins largely flowing toward centralized exchanges.

有趣的是，對 Tether 穩定幣的需求似乎正在攀升，每週鑄造的新 USDT 代幣價值超過 30 億美元。最值得注意的是，自 11 月初以來，USDT 的鑄造量已超過 130 億美元，其中穩定幣大部分流向中心化交易所。

This injection of fresh liquidity into centralized exchanges has been reflected in the market, especially with the strong bullish momentum witnessed in the past few weeks. Historically, increasing stablecoin inflows into exchanges are positively correlated with market prices, as they often represent higher “buying power” for the investors.

這種向中心化交易所注入新的流動性已經在市場上得到了體現，特別是過去幾週出現的強勁看漲勢頭。從歷史上看，穩定幣流入交易所的增加與市場價格呈正相關，因為它們通常代表投資者更高的「購買力」。

As such, the continuation of this positive trend could be pivotal to the dream of Bitcoin price surpassing $100,000. While the flagship cryptocurrency has seemingly recovered from its recent slump beneath the $93,000 level, it has not exactly shown strength sufficient to surpass the six-figure milestone.

因此，這種積極趨勢的持續可能對於比特幣價格突破 10 萬美元的夢想至關重要。雖然旗艦加密貨幣似乎已經從最近跌破 93,000 美元的跌勢中恢復過來，但它並沒有完全表現出足以超越六位數里程碑的實力。

As of this writing, the price of Bitcoin continues to hover around the $96,500 mark, reflecting a more than 2% increase in the last 24 hours. According to data from CoinGecko, the premier cryptocurrency is still in the red on the weekly timeframe, with a 3% decline in the past seven days.

截至撰寫本文時，比特幣的價格繼續徘徊在 96,500 美元大關附近，過去 24 小時內上漲了 2% 以上。根據 CoinGecko 的數據，該主要加密貨幣在每週時間範圍內仍處於虧損狀態，過去 7 天下跌了 3%。

BTC Market Becoming Stable and Mature: IntoBlock

BTC市場變得穩定和成熟：IntoBlock

IntoBlock also disclosed in its weekly report that Bitcoin’s market climate seems to be maturing, as volatility is currently trending downwards. According to the blockchain platform, the market’s high volatility has been a long-standing criticism point for BTC as a store of value.

IntoBlock也在每週報告中透露，比特幣的市場環境似乎正在成熟，目前波動性呈下降趨勢。據區塊鏈平台稱，市場的高波動性一直是比特幣作為價值儲存手段的長期批評點。

However, IntoBlock noted that investors can expect the Bitcoin price performance to be more stable, as retail and institutional adoption increases and volatility diminishes. Hence, the premier cryptocurrency could become an even more reliable store of value.

然而，IntoBlock 指出，隨著零售和機構採用的增加以及波動性的減少，投資者可以預期比特幣的價格表現將更加穩定。因此，首要的加密貨幣可能成為更可靠的價值儲存手段。