Visa 暴露了稳定币交易中 90% 的非人类活动

Visa 和企业区块链数据提供商 Allium 发布了一个数据仪表板，以解决稳定币交易中的“无机活动”问题。他们的分析显示，大约 90% 的跟踪稳定币交易不是由人类发起的，这可能会影响对稳定币活动的看法以及与传统支付处理器交易的比较。这一发现凸显了需要进一步提高透明度和分析，以准确评估稳定币使用的真实性质。

Visa Unveils Data Dashboard Exposing Significant Volume of Non-Human Stablecoin Transactions

Visa 推出数据仪表板，暴露大量非人类稳定币交易

Visa, the global payments technology giant, has partnered with Allium, an enterprise blockchain data provider, to launch a specialized data dashboard. This collaboration aims to combat the prevalence of "inorganic activity" and artificial inflationary practices within stablecoin transactions.

全球支付技术巨头 Visa 与企业区块链数据提供商 Allium 合作推出了专门的数据仪表板。此次合作旨在打击稳定币交易中普遍存在的“无机活动”和人为通胀行为。

The dashboard monitors the transactional activity of major stablecoins, including Tether (USDT), USDC, USDP, and PayPal's PYUSD. These stablecoins are all pegged to the U.S. dollar on a 1:1 basis and maintain reserves in cash or cash-equivalent assets to support their tokens' value.

该仪表板监控主要稳定币的交易活动，包括 Tether (USDT)、USDC、USDP 和 PayPal 的 PYUSD。这些稳定币均以 1:1 的比例与美元挂钩，并保留现金或现金等价资产储备以支持其代币价值。

Alarmingly, Visa and Allium's analysis reveals that approximately 90% of tracked stablecoin transactions occur without any human involvement. This inorganic activity skews the perception of stablecoin usage and its potential impact on the financial system.

令人震惊的是，Visa 和 Allium 的分析显示，大约 90% 的被跟踪稳定币交易是在没有任何人为参与的情况下发生的。这种无机活动扭曲了人们对稳定币使用及其对金融体系潜在影响的看法。

For instance, the unadjusted data for May 5, 2024, indicates a staggering $51.6 billion worth of stablecoin transactions processed. However, when the data is adjusted to exclude inorganic activity, the number plummets to a mere $4.6 billion, highlighting the substantial overstatement of actual transaction volume.

例如，2024 年 5 月 5 日未经调整的数据表明，处理的稳定币交易价值高达 516 亿美元。然而，当对数据进行调整以排除无机活动时，该数字骤降至仅 46 亿美元，凸显了实际交易量的大幅高估。

Cuy Sheffield, Visa's Head of Crypto, emphasized the importance of differentiating between transactions initiated by smart contracts and those initiated by humans in response to a Coin Metrics chart suggesting that stablecoins are rapidly catching up to established settlement networks.

Visa 加密货币主管 Cuy Sheffield 强调区分智能合约发起的交易和人类发起的交易的重要性，以回应硬币指标图表表明稳定币正在迅速赶上已建立的结算网络。

Sheffield clarified that automated bot programs often execute activities such as stablecoin arbitrage, liquidity provision, and market making. These automated processes generate a high volume of on-chain transactions, but they differ significantly from traditional settlement processes involving human interaction.

谢菲尔德澄清说，自动化机器人程序经常执行稳定币套利、流动性提供和做市等活动。这些自动化流程会产生大量的链上交易，但它们与涉及人工交互的传统结算流程有很大不同。

Notably, Visa's analysis also highlights the significant growth in adoption of USDC, a regulated stablecoin issued by Circle. In September 2023, USDC accounted for 23% of the analyzed stablecoin transactions. By year's end, its usage had more than doubled, capturing over 50% of the market share.

值得注意的是，Visa 的分析还强调了由 Circle 发行的受监管稳定币 USDC 的采用率显着增长。 2023 年 9 月，USDC 占分析的稳定币交易量的 23%。到年底，其使用量增加了一倍多，占据了超过 50% 的市场份额。

Visa's data dashboard provides a valuable tool for market participants, regulators, and policymakers to understand the true dynamics of stablecoin transactions and address any potential concerns regarding artificial market manipulation or financial stability risks.

Visa 的数据仪表板为市场参与者、监管机构和政策制定者提供了一个宝贵的工具，以了解稳定币交易的真实动态，并解决有关人为市场操纵或金融稳定风险的任何潜在担忧。