Stablecoins最近看到了他们的市值触摸新高点

一家分析公司已经解释了与Stablecoins有关的数据如何暗示比特币市场的顶级。

An analytics firm has explained how the data related to the stablecoins could hint at whether the Bitcoin market top is in or not.

一家分析公司已经解释了与Stablecoins有关的数据如何暗示比特币市场的顶级。

Stablecoins Have Seen Their Market Cap Touch New Highs Recently

Stablecoins最近看到了他们的市值触摸新高点

In a new post on X, the market intelligence platform IntoTheBlock has discussed about the trend in the combined stablecoin market cap. “Stablecoins” refer to cryptocurrencies that are pegged to a fiat currency (with USD being the most popular choice).

在X上的新帖子中，市场情报平台Intotheblock讨论了组合稳定市值的趋势。 “ Stablecoins”是指固定在菲亚特货币的加密货币（美元是最受欢迎的选择）。

Generally, investors make use of these assets when they want to avoid the volatility associated with other coins like Bitcoin. Traders who invest into stablecoins, however, usually do so because they plan to venture (back) into the volatile side of the sector.

通常，当投资者想避免与其他硬币（如比特币）相关的波动率时，他们会利用这些资产。但是，投资稳定币的交易者通常这样做是因为他们计划冒险（返回）进入该行业的动荡方面。

As such, the supply of these fiat-tied tokens is often considered as the available ‘dry powder’ for Bitcoin and other cryptocurrencies. Given this placement of the stables in the sector, their market cap can be worth keeping an eye on.

因此，这些菲亚式令牌的供应通常被认为是比特币和其他加密货币的可用“干粉”。鉴于马s位于该行业中，他们的市值值得关注。

Here is the chart shared by the analytics firm that shows the trend in the stablecoin market cap over the past few years:

这是分析公司共享的图表，该图显示了过去几年中Stablecoin市值的趋势：

The above graph shows how the market cap of the stablecoins has been touching new all-time highs (ATHs) recently. Following the latest continuation to the increase, the metric has now hit a whopping $219 billion.

上图显示了Stablecoins的市值最近如何触及新的历史高峰（ATHS）。在最新延续到这一增长之后，该指标现已达到了2190亿美元的收入。

To put things into perspective, the market cap of Ethereum (ETH), the second largest asset in the sector, is just a little over $233 billion. This makes the stables less than $14 billion away from overtaking the smart contract chain.

为了透视事物，该行业第二大资产以太坊（ETH）的市值仅超过2330亿美元。这使马s距离超过智能合约连锁店不到140亿美元。

According to the analytics firm, an interesting pattern can be observed if one pays attention to this indicator’s behavior over the past few cycles. In the chart, it’s clear that the metric’s top last cycle was when it reached $187 billion in April 2022.

根据分析公司的说法，如果人们在过去的几个周期中关注该指标的行为，就可以观察到一个有趣的模式。在图表中，很明显，该指标的最后一个周期是2022年4月达到1870亿美元。

This peak in the market cap of the stables coincided with the start of the bear market. According to IntoTheBlock, the observation can be stated as follows: “Historically, stablecoin supply peaks align with cycle highs.”

马s市值的峰值与熊市的开始相吻合。根据Intotheblock的说法，该观察结果可以说：“从历史上看，Stablecoin供应峰与循环高点保持一致。”

So far in the current cycle, despite the decline in the asset’s price, the indicator has continued to increase. If the previous trend is anything to go by, this could be an indication that Bitcoin and other coins are yet to enter a bear market.

到目前为止，尽管资产价格下跌，但该指标仍在继续增加。如果以前的趋势要持续下去，这可能表明比特币和其他硬币尚未进入熊市。

That said, the latest market conditions weren’t exactly positive. The most positive scenario occurs whenever both BTC and the stablecoins enjoy an increase in their market caps. In such a period, a net amount of fresh capital inflows are entering into the sector.

也就是说，最新的市场条件并不是完全积极的。每当BTC和Stablecoins都有增加的市值时，最积极的情况就会发生。在这样的时期，净数量的新鲜资本流入进入该行业。

At present, though, the stablecoins have been rising while Bitcoin and others have been falling. This could indicate that a rotation of capital has been occurring, rather than fresh inflows.

不过，目前，稳定币一直在上升，而比特币和其他人已经下降。这可能表明资本的旋转已经发生，而不是新鲜的流入。

During the mid-2021 correction, a similar pattern emerged, but the market was able to find its footing and the second half of the rally took place. It now remains to be seen whether something similar would happen for Bitcoin this time as well, or if the market will go the way it did in 2022.

在2021年中期的校正期间，出现了类似的模式，但是市场能够找到其地面，下半场进行了集会。现在，这次比特币是否也会发生类似的事情，或者市场将按照2022年的方式进行，还有待观察。

Bitcoin Price

比特币价格

At the time of writing, Bitcoin is trading around $84,700, down over 4% in the last seven days.

在撰写本文时，比特币的交易约为84,700美元，在过去七天中下降了4％以上。