加密数据显示，由USDT和USDC市值增长驱动的Stablecoin市值驱动了220B美元的创纪录。

加密数据表明，由USDT和USDC市值增长驱动的总稳定市值驱动了220B美元的创纪录。

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.

加密数据显示，由USDT和USDC市值的增长驱动的Stablecoin市值总数达到了22.2亿美元。该平台的研究人员指出，测量市场情绪的比特币的公牛得分指数从20升至50，这表明BTC从看跌领域的突破处呈中性。

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.

数据证实，在过去30天中，USDT和USDC市值的上升有助于增加Stablecoin的流动性，从而增加了对其他数字资产的投资。根据该报告，这一转变指出了对加密货币暴露的新食欲，这可能是由于对宏观宏观经济条件或加密货币领域即将发生的发展的期望而驱动的。

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.

研究人员还强调，随着资本可用性促进了交易和投资，Stablecoin流动性的增长通常在BTC价格上涨之前。尽管最初落后于Stablecoin供应的快速扩张，但比特币最近的反弹与更广泛的流动性趋势保持一致。研究人员还警告说，尽管提高的公牛得分指数反映了更强的Stablecoin流动性和比特币违反链抗性水平，但持续的集会需要得分以上60以上。

Stablecoin market cap surges to a record ATH

Stablecoin市值飙升至创纪录的ATH

Liquidity is back.

流动性又回来了。

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

Stablecoin市值刚刚达到220B美元，这是一项新纪录。

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

随着资本返回市场，比特币退出了看跌阶段。 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.

根据CryptoQuant的报告，Stablecoin的流动性达到了2200亿美元的创纪录，这是自2月9日以来每周最高的Stablecoin市值增长。流动性的增长 - 在过去一周内增加了USDT（+ $ 2.5B）和USDC（+ $ 1.2B）市值的增长，这表明资本涌入加密生态系统。

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天扩张也高于趋势，在过去的30天中，USDT的市值增加了53亿美元，而USDC的市值在同一时期增加了60亿美元。两种稳定的稳定性都超过了他们30天的移动平均值。

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，该报告还表明，USDT在加密交易所的流动性尚未完全恢复。自2025年2月21日达到430亿美元以来，交易所的总价值为380亿美元，下降了12％。相反，交易所的总价值升至65亿美元，至65亿美元 - 自2025年3月以来的最高水平。

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的副总裁兼首席经济学家沉贡瓜声称，Stablecoin交易每月达到超过7000亿美元。 RD Technologies首席执行官Rita Liu还指出，对非USD Stablecoins的兴趣日益增加。但是，她承认，美元支持的仍然占市场份额的99％。她还提到了CNH支持的Stablecoin如何获得受欢迎程度，尤其是根据香港即将到来的法规。

Bitcoin breaks out of bearish trend following stablecoins' surge

稳定蛋白激增后，比特币突破了看跌趋势

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.

该报告还表明，随着资本可用性加剧了贸易和投资，Stablecoin流动性的增长支持了对比特币的向上压力，从而加强了Stablecoin流动性与比特币市场实力之间的历史联系。研究小组还指出，比特币的公牛得分指数从20跃升至50，这表明BTC从看跌领域的突破处呈中性。但是，他们还警告说，持续的集会需要超过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.

该平台的分析师进一步指出，由于更高的储量增强了市场流动性，USDC的不断增长的交换储量可以为加密价格提供近期的支持。但是，USDT减少的交换存在表明，资本可能正在进入其他资产或平台储存。

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.

根据该报告，比特币的价格轨迹仍然束缚在Stablecoin Dynamics上，强调流动性是市场健康的关键驱动力。研究人员指出，分析师应监控公牛得分指数是否会完全跨入看涨领土，这表明投资者的信心更强。