华尔街的Stablecoin增长：分析师的观点和天才法案效果

看看《天才法案》如何助长稳定的增长，华尔街的反应以及分析师对诸如Circle（CRCL）之类的主要参与者的评价。

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.

由于新的立法和华尔街日益增长的兴趣，Stablecoin市场正在加热。这是推动增长和分析师所说的内容的最低点。

The GENIUS Act: A Game Changer

天才法案：改变游戏规则的人

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》最近的通过在Stablecoin市场下点燃了大火。经过多年的监管不确定性，该法律为菲亚·支持的稳定剂提供了一个明确的框架。可以将其视为银行，资产经理和金融科技初创公司的绿灯，可以跳入令牌化的美元游戏。

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.

该法案设定了特定的规则：发行人需要全部1：1储备，接受审计并获得适当的许可。这不仅保护消费者，而且还使稳定的机构使用合法化。猜猜是什么？机构已经在做出动作。

Wall Street Steps In

华尔街台阶

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.

联邦特许加密银行的Anchorage Digital正在推出新的Stablecoin发行平台。华尔街资产经理WisdomTree揭幕了USDW，这是一款全美元的Stablecoin。即使是美国银行，摩根大通和花旗也在四处嗅探，探索自己的稳定计划。就像每个人突然意识到聚会刚刚开始一样。

Analyst Views on Circle (CRCL)

分析师对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背后的公司Circle已经看到了其库存（CRCL）激增。但是，分析师被分割了。瑞穗分析师以竞争的上升和潜在的降低利率降低，给了Circle的“表现不佳”评级。他们担心较低的财政收益率（返回USDC）和新的Stablecoins的竞争增加可能会挤压Circle的利润和市场份额。他们将目标目标定为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“买入”评级和235美元的价格目标发起了Circle的报道，称其为领先的加密“破坏者”。他认为，到明年年底，Stablecoin市值可能达到5000亿美元，最终达到了2万亿美元。

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分析师Ed Engel的目标价格更高，目标价为205美元，预计在Stablecoin立法通过后会加速竞争。这可以减少2025年CRCL的长期份额期望和压力CRCL份额。

The Big Picture: Fiat-Backed Dominance

大局：菲亚支持的主导地位

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等菲亚特支持的Stablecoin在市场上占主导地位，约占总数的85％。随着《天才法》的重点是这种模型，这种统治可能会继续下去。这些硬币得到了现实世界中的支持，使它们比算法稳定的稳定稳定（还记得Terra UST崩溃了吗？）。

Stablecoin Growth: A New Era

Stablecoin的增长：一个新时代

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.

耗资40亿美元的供应跳是明显的动力信号。稳定剂从加密本地工具变成机构级工具。他们正在为股息支付，跨境定居点，甚至潜在的中央银行集成供电。随着监管的到位，华尔街订婚，Stablecoin战争正在进入一个新阶段。

Final Thoughts

最后的想法

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!

那么，这意味着什么？ 《天才法案》（Genius Act）取消了稳定的瓶子，华尔街（Wall Street）涌入。分析师对诸如Circle等特定玩家的看法不同，但总体趋势很明显：Stablecoins正在成长并成为金融界的强大力量。系好，因为这将是一个疯狂的旅程！