稳定币供应相关指标最近继续呈上升趋势

正如一位分析师在 CryptoQuant Quicktake 帖子中指出的那样，一些与稳定币供应相关的指标最近一直显示出增长。

Some on-chain metrics related to the total stablecoin supply have recently hit new all-time highs, an indicator that could be bullish for Bitcoin.

与稳定币总供应量相关的一些链上指标最近创下了历史新高，这一指标可能对比特币有利。

Stablecoin Supply Metrics Continue Their Uptrend

稳定币供应指标继续呈上升趋势

According to an analysis shared by an analyst in a recent CryptoQuant Quicktake post, some stablecoin supply-related indicators have been showing a recent uptick.

根据一位分析师在最近的 CryptoQuant Quicktake 帖子中分享的分析，一些与稳定币供应相关的指标最近一直在上升。

Specifically, the metrics being highlighted include the total circulating stablecoin supply, Tether (USDT) supply, and the total stablecoin exchange reserve on Binance.

具体来说，重点关注的指标包括稳定币的总流通供应量、Tether (USDT) 供应量以及币安上的稳定币交易储备总额。

It’s worth noting that these indicators only include data for the ERC20 versions of the stablecoins.

值得注意的是，这些指标仅包含ERC20版本稳定币的数据。

Here’s the chart shared by the quant, showcasing the metrics in question:

以下是这位量化分析师分享的图表，展示了相关指标：

The graph shows that all three metrics have been moving upwards recently and setting new records. This indicates that demand for stablecoins has been high among investors.

该图显示，所有三个指标最近都在上升并创下新记录。这表明投资者对稳定币的需求一直很高。

While they may not initially seem important, stablecoins have historically been quite relevant to the broader market. At their core, stablecoins act as a sort of safe-haven for investors to store their capital, away from the volatility of Bitcoin and other assets.

虽然稳定币最初看起来可能并不重要，但从历史上看，它们与更广泛的市场非常相关。从本质上讲，稳定币充当投资者储存资本的避风港，远离比特币和其他资产的波动性。

However, investors keeping their capital in this manner eventually plan to venture out into the volatile side, as they would have chosen fiat instead if staying away from the market in the long-term was the goal.

然而，以这种方式保留资金的投资者最终计划冒险进入波动性较大的领域，因为如果长期远离市场是目标，他们会选择法定货币。

Naturally, when investors make this swap to coins like Bitcoin, they provide a buying boost to their prices. Due to the potential to be deployed into the volatile side, the supply of stablecoins is often considered the available “dry powder” in the market.

当然，当投资者交换比特币等代币时，他们会推高其价格。由于具有部署到波动性方面的潜力，稳定币的供应通常被认为是市场上可用的“干粉”。

Thus, whenever the supply of these stables goes up, it can be a bullish sign for Bitcoin and other cryptocurrencies, as it suggests that there is now more capital waiting on the sidelines.

因此，每当这些稳定币的供应量增加时，这对比特币和其他加密货币来说可能是一个看涨信号，因为这表明现在有更多的资本在观望。

The recent uptick in the stablecoin supply is highlighted to be especially positive, as it has come alongside an upward trajectory in BTC itself, which the quant has marked in the chart.

最近稳定币供应量的增长被强调为特别积极的，因为它与 BTC 本身的上升轨迹同时出现，量化分析师在图表中标记了这一点。

At times, the supply of these fiat-tied tokens increases due to capital flowing out from the volatile coins. In these situations, while the stable supply increase is bullish, it doesn’t mean much on the net as the prices of the assets said capital come from going down during the swap.

有时，由于资金从不稳定的代币中流出，这些与法定货币挂钩的代币的供应量会增加。在这些情况下，虽然稳定的供应增加是看涨的，但在净值上并没有多大意义，因为资产价格表示资本来自互换期间的下跌。

However, with Bitcoin recently rising instead of the stablecoin supply setting new highs, the capital must be coming from elsewhere, like outside the sector itself, indicating net capital inflows.

然而，随着比特币最近上涨，而不是稳定币供应创下新高，资本肯定来自其他地方，比如行业本身之外，这表明资本净流入。

When investors want to buy into BTC and other tokens using their stables, they may use exchanges. As mentioned earlier, one of the indicators in the chart is for the stablecoins sitting on Binance, so its value can showcase the demand present among the holders to swap in the near future.

当投资者想要使用他们的稳定币购买比特币和其他代币时，他们可能会使用交易所。如前所述，图表中的指标之一是币安上的稳定币，因此其价值可以显示持有人在不久的将来进行交换的需求。

As this indicator has also been rising recently, it shows that many investors are looking to buy into Bitcoin right now rather than holding off their capital for future opportunities.

由于该指标最近也在上升，这表明许多投资者正在寻求立即买入比特币，而不是为了未来的机会而持有资金。

BTC Price

比特币价格

At the time of writing, Bitcoin is valued at around $63,800, up nearly 10% over the past week.

截至撰写本文时，比特币价值约为 63,800 美元，较过去一周上涨近 10%。