机器人推动了大部分自动化稳定币交易

根据 Visa 和 Allium 最近的一份报告，大约 90% 的稳定币交易涉及机器人而不是人工参与。这意味着，在上个月记录的 2.2 万亿美元稳定币交易中，只有 1,490 亿美元归因于实际资金活动。该报告强调了稳定币市场中无机交易的盛行，引发了对其实际应用的真实程度的质疑。

Stablecoins: Majority of Transactions Automated, Led by Bots

稳定币：大多数交易都是自动化的，由机器人主导

According to recently released data from Visa and blockchain data provider Allium, approximately 90% of recorded stablecoin transactions are not initiated by human users. Bots and automated processes account for the vast majority of these transactions, with less than 10% attributable to direct customer actions.

根据 Visa 和区块链数据提供商 Allium 最近发布的数据，大约 90% 记录的稳定币交易不是由人类用户发起的。机器人和自动化流程占这些交易的绝大多数，其中不到 10% 归因于直接客户操作。

This disparity underscores the prevalence of inorganic transactions in the stablecoin market. For instance, on May 5th, $51.6 billion worth of stablecoin transactions were processed, but only $4.6 billion represented genuine user activity after excluding automated operations.

这种差异凸显了稳定币市场中无机交易的盛行。例如，5 月 5 日，处理了价值 516 亿美元的稳定币交易，但在排除自动化操作后，只有 46 亿美元代表真实的用户活动。

Stablecoins are cryptocurrencies whose value is pegged to another currency (fiat or digital), a commodity (such as gold), or a financial instrument. Major stablecoins include Tether (USDT), Circle's USDC, Paxo's USDP, and PayPal's PYUSD, all of which are pegged to the US dollar.

稳定币是一种加密货币，其价值与另一种货币（法定货币或数字货币）、商品（例如黄金）或金融工具挂钩。主要稳定币包括Tether（USDT）、Circle的USDC、Paxo的USDP和PayPal的PYUSD，所有这些都与美元挂钩。

Cuy Sheffield, Visa's head of crypto, responded to a Coin Metrics chart suggesting that stablecoins were gaining traction against established settlement networks. However, Sheffield emphasized that transactions initiated by smart contracts, without human involvement, cannot be directly compared to traditional payment processor transactions.

Visa 加密货币业务主管 Cuy Sheffield 对 Coin Metrics 图表做出回应，该图表表明稳定币正在对已建立的结算网络产生吸引力。不过，谢菲尔德强调，由智能合约发起的交易，在没有人为参与的情况下，不能直接与传统支付处理器的交易进行比较。

Stablecoins were developed to address the high volatility associated with most cryptocurrencies. For a currency to effectively function as a medium of exchange, it must maintain relative stability, ensuring that its purchasing power remains largely unchanged over a short period.

稳定币的开发是为了解决与大多数加密货币相关的高波动性。货币要有效发挥交换媒介的作用，就必须保持相对稳定性，确保其购买力在短期内基本保持不变。

Tether (USDT) is the dominant stablecoin, serving as a medium for traders to engage in Bitcoin and other cryptocurrency transactions. Tether accounts for over 50% of Bitcoin's daily trading volume and up to 70% of other major cryptocurrencies.

Tether（USDT）是占主导地位的稳定币，作为交易者进行比特币和其他加密货币交易的媒介。 Tether 占比特币每日交易量的 50% 以上，占其他主要加密货币交易量的 70%。

The recent data highlights the increasing automation and institutional adoption of stablecoins. While they provide benefits such as stability and settlement efficiency, it is essential to recognize the dominance of bot-driven transactions in the current stablecoin landscape.

最近的数据凸显了稳定币的自动化程度和机构采用率的不断提高。虽然它们提供了稳定性和结算效率等好处，但必须认识到机器人驱动的交易在当前稳定币领域的主导地位。