USDT，USDC和Stablecoin Suger：是什么推动了繁荣？

像USDT和USDC这样的Stablecoins正在蓬勃发展，数十亿美元流入。但是这种增长可持续吗？让我们深入了解趋势以及稳定菌的下一步。

Stablecoins are on fire! USDT and USDC are leading a massive influx of capital into the crypto space, but are rising tides lifting all boats? Let's unpack the stablecoin story.

稳定币着火了！ USDT和USDC正在带领大量资本涌入加密货币空间，但是潮汐升起了所有的船只？让我们解开stablecoin的故事。

The Stablecoin Explosion: A $46 Billion Quarter

Stablecoin爆炸：460亿美元的季度

The last three months have been insane for stablecoins. We're talking over $46 billion flowing into the market, pushing the total market cap near $290 billion. That's not pocket change, folks. Stablecoins are the backbone of crypto trading, settling transactions left and right.

过去三个月对于稳定剂来说已经疯狂了。我们正在谈论超过460亿美元流向市场，将总市值推向了2900亿美元。伙计们，那不是零钱。 Stablecoins是加密交易的骨干，左右与交易结算。

Ethereum's still the king, hosting $171 billion in stable assets, with Tron a distant second at $76 billion. But the real action is in the newcomers.

以太坊仍然是国王，拥有1,710亿美元的稳定资产，特隆（Tron）遥远的第二名，以760亿美元的价格。但是真正的行动在于新移民。

USDT and USDC: The Titans Clash (and a New Challenger Appears)

USDT和USDC：Titans Clash（出现新的挑战者）

Tether's USDT is still the big boss, pulling in nearly $20 billion in new issuance. Circle's USDC is making a serious comeback, jumping from peanuts to over $12 billion in inflows. But hold up, there's a new sheriff in town. Ethena's USDe is the dark horse, raking in $9 billion. Who saw that coming?

Tether的USDT仍然是大老板，在新发行中赚了近200亿美元。 Circle的USDC正在认真卷土重来，从花生跳到超过120亿美元的流入。但是请坚持，镇上有一个新的警长。 Ethena的USDE是黑马，赚了90亿美元。谁看到那个来了？

PayPal's PYUSD and MakerDAO's USDS are also in the game, posting over a billion each, and Ripple's RLUSD is showing promise. The stablecoin landscape is getting crowded, y'all.

贝宝（Paypal）的Pyusd和Makerdao的USD也在游戏中，每张超过10亿美元，Ripple的RLUSD表现出了希望。大家，Stablecoin景观变得越来越拥挤。

The Catch: Are Users Keeping Up?

捕获：用户跟上了吗？

Here's where it gets interesting. While the money's pouring in, user activity is dropping. Active addresses are down, and transfer volume is sliding. Supply's up, but demand is... not quite there. Are we building castles in the sky, or are stablecoins on the verge of mainstream adoption?

这是有趣的地方。当钱涌入时，用户活动正在下降。主动地址是下降的，传输量正在滑动。供应已经上升，但需求是……不完全存在。我们是在天空中建造城堡，还是在主流采用的边缘？

Tron's Quiet Domination

特隆的安静统治

While everyone's watching Ethereum, Tron is quietly dominating the stablecoin transfer game, especially with USDT. They're processing way more USDT transactions than Ethereum, thanks to low fees and a focus on emerging markets. Tron's becoming the go-to rail for remittances and B2B flows. Who knew?

当每个人都在观看以太坊时，Tron悄悄地主导了Stablecoin转会游戏，尤其是在USDT中。由于低费用和专注于新兴市场，他们的处理方式比以太坊要多于以太坊。特隆（Tron）成为汇款和B2B流量的首选轨道。谁知道？

My Two Satoshis: Stablecoins Need Real-World Use

我的两个satoshis：stablecoins需要真实的使用

Here's my take: stablecoins are more than just trading tools. They're the potential foundation for a new financial system. But to truly take off, they need to move beyond crypto exchanges and into everyday payments. Imagine paying your rent or buying groceries with USDC. That's the dream, and it's closer than you think.

这是我的看法：Stablecoins不仅仅是交易工具。它们是新金融系统的潜在基础。但是要真正起飞，他们需要超越加密交易所并进行日常付款。想象一下，用USDC支付租金或购买杂货。那是梦想，它比您想象的要近。

The rise of Digital Asset Treasuries (DATs), where public companies are accumulating tokens on their balance sheets, shows the growing confidence in crypto. With clearer regulations and accounting standards, more companies will likely embrace stablecoins.

上市公司在资产负债表上积累令牌的数字资产国库（DAT）的兴起表明，对加密货币的信心越来越大。有了更明确的法规和会计标准，越来越多的公司可能会接受稳定的公司。

The Future is Stable (Maybe)

未来是稳定的（也许）

So, what's next? Will stablecoins become the plumbing of the global economy? Will USDT and USDC continue to dominate? Or will a new player steal the show? Only time will tell, but one thing's for sure: the stablecoin story is far from over. Buckle up, it's gonna be a wild ride!

那么，下一步是什么？ Stablecoins会成为全球经济的管道吗？ USDT和USDC会继续占主导地位吗？还是新玩家会偷节目？只有时间会说明，但是可以肯定的是：Stablecoin的故事还远远没有结束。扣紧，这将是一次疯狂的旅程！