華爾街的Stablecoin增長：分析師的觀點和天才法案效果

看看《天才法案》如何助長穩定的增長，華爾街的反應以及分析師對諸如Circle（CRCL）之類的主要參與者的評價。

The stablecoin market is heating up, thanks to new legislation and growing interest from Wall Street. Here's the lowdown on what's driving the growth and what analysts are saying.

由於新的立法和華爾街日益增長的興趣，Stablecoin市場正在加熱。這是推動增長和分析師所說的內容的最低點。

The GENIUS Act: A Game Changer

天才法案：改變遊戲規則的人

The recent passage of the GENIUS Act has lit a fire under the stablecoin market. After years of regulatory uncertainty, this law provides a clear framework for fiat-backed stablecoins. Think of it as a green light for banks, asset managers, and fintech startups to jump into the tokenized dollar game.

《天才法案》最近的通過在Stablecoin市場下點燃了大火。經過多年的監管不確定性，該法律為菲亞·支持的穩定劑提供了一個明確的框架。可以將其視為銀行，資產經理和金融科技初創公司的綠燈，可以跳入令牌化的美元遊戲。

The Act sets specific rules: Issuers need to hold full 1:1 reserves, undergo audits, and secure proper licensing. This not only protects consumers but also legitimizes stablecoins for institutional use. And guess what? Institutions are already making moves.

該法案設定了特定的規則：發行人需要全部1：1儲備，接受審計並獲得適當的許可。這不僅保護消費者，而且還使穩定的機構使用合法化。猜猜是什麼？機構已經在做出動作。

Wall Street Steps In

華爾街台階

Anchorage Digital, a federally chartered crypto bank, is launching a new stablecoin issuance platform. Wall Street asset manager WisdomTree has unveiled USDW, a fully dollar-backed stablecoin. Even Bank of America, JPMorgan, and Citi are sniffing around, exploring their own stablecoin initiatives. It's like everyone's suddenly realized the party's just getting started.

聯邦特許加密銀行的Anchorage Digital正在推出新的Stablecoin發行平台。華爾街資產經理WisdomTree揭幕了USDW，這是一款全美元的Stablecoin。即使是美國銀行，摩根大通和花旗也在四處嗅探，探索自己的穩定計劃。就像每個人突然意識到聚會剛剛開始一樣。

Analyst Views on Circle (CRCL)

分析師對Circle（CRCL）的看法

Circle, the company behind USDC, has seen its stock (CRCL) surge. However, analysts are divided. Mizuho analysts gave Circle an "Underperform" rating, citing rising competition and potential interest rate cuts. They worry that lower Treasury yields (which back USDC) and increased competition from new stablecoins could squeeze Circle's profits and market share. They set a price target of $85.

USDC背後的公司Circle已經看到了其庫存（CRCL）激增。但是，分析師被分割了。瑞穗分析師以競爭的上升和潛在的降低利率降低，給了Circle的“表現不佳”評級。他們擔心較低的財政收益率（返回USDC）和新的Stablecoins的競爭增加可能會擠壓Circle的利潤和市場份額。他們將目標目標定為85美元。

On the other hand, Jeff Cantwell of Seaport Research Partners initiated coverage of Circle with a "Buy" rating and a $235 price target, calling it a leading crypto "disruptor." He believes the stablecoin market cap could reach $500 billion by the end of next year and eventually hit $2 trillion.

另一方面，Seaport Research Partners的Jeff Cantwell以“買入”評級和235美元的價格目標發起了Circle的報導，稱其為領先的加密“破壞者”。他認為，到明年年底，Stablecoin市值可能達到5000億美元，最終達到了2萬億美元。

Compass Point analyst Ed Engel is more neutral, with a $205 price target, expecting competition to accelerate after stablecoin legislation passes. This could reduce long-term market share expectations and pressure CRCL shares in 2025.

Compass Point分析師Ed Engel的目標價格更高，目標價為205美元，預計在Stablecoin立法通過後會加速競爭。這可以減少2025年CRCL的長期份額期望和壓力CRCL份額。

The Big Picture: Fiat-Backed Dominance

大局：菲亞支持的主導地位

Fiat-backed stablecoins like USDT and USDC dominate the market, accounting for about 85% of the total. With the GENIUS Act focusing on this model, it’s likely this dominance will continue. These coins are backed by real-world assets, making them more stable than algorithmic stablecoins (remember the Terra UST debacle?).

USDT和USDC等菲亞特支持的Stablecoin在市場上占主導地位，約佔總數的85％。隨著《天才法》的重點是這種模型，這種統治可能會繼續下去。這些硬幣得到了現實世界中的支持，使它們比算法穩定的穩定穩定（還記得Terra UST崩潰了嗎？）。

Stablecoin Growth: A New Era

Stablecoin的增長：一個新時代

The $4 billion supply jump is a clear signal of momentum. Stablecoins are evolving from crypto-native tools to institutional-grade instruments. They’re powering dividend payments, cross-border settlements, and even potential central bank integrations. With regulation in place and Wall Street engaged, the stablecoin wars are entering a new phase.

耗資40億美元的供應跳是明顯的動力信號。穩定劑從加密本地工具變成機構級工具。他們正在為股息支付，跨境定居點，甚至潛在的中央銀行集成供電。隨著監管的到位，華爾街訂婚，Stablecoin戰爭正在進入一個新階段。

Final Thoughts

最後的想法

So, what does it all mean? The GENIUS Act has uncorked the stablecoin bottle, and Wall Street is pouring in. While analysts have differing views on specific players like Circle, the overall trend is clear: stablecoins are growing up and becoming a serious force in the financial world. Buckle up, because it's gonna be a wild ride!

那麼，這意味著什麼？ 《天才法案》（Genius Act）取消了穩定的瓶子，華爾街（Wall Street）湧入。分析師對諸如Circle等特定玩家的看法不同，但總體趨勢很明顯：Stablecoins正在成長並成為金融界的強大力量。係好，因為這將是一個瘋狂的旅程！