#稳定币市场扩张 When I saw the news that stablecoin market capitalization broke through $310 billion with 70% year-on-year growth, my mind flashed back to the ups and downs of crypto payments over the past decade. I remember the 2017 bull market when countless projects raised funds under the banner of "payment revolution," only to disappear in the end. Back then, we all thought stablecoins would spread like wildfire, but it turned out the market took a full five years to truly bring this thing to life.
The situation is certainly different now. From the data, this expansion is driven neither by speculative enthusiasm nor by retail FOMO, but by genuine usage demand from payment applications, institutional needs, and the DeFi ecosystem. This reminds me of Bitcoin's early payment exploration in 2012—slow and clumsy, but that persistence in peer-to-peer value transfer ultimately transformed the entire landscape.
Toly's prediction that stablecoins will break through $1 trillion by 2026 sounds grand, but extrapolating backward from growth trends, it's not unreasonable. The issue is that history tells us that scale growth is often accompanied by new risks. When stablecoins evolve from trading tools into a "digital cash layer" that permeates payments, e-commerce, and even inter-enterprise settlements, variables like regulation, risk management, and issuer creditworthiness become critical.
In this cycle, what we should be wary of is not the stablecoin sector's prospects—those are already clear enough—but the ancient problems repeatedly overlooked in explosive growth: liquidity crises, issuance transparency, and whether the system will collapse when real stress tests arrive. We've seen too many seemingly stable things expose design flaws at critical moments.
Rather than predicting the future, it's better to examine the present: which stablecoin projects have risk control systems that can withstand a hundredfold scale test—that's the real investment logic.
#稳定币市场扩张 When I saw the news that stablecoin market capitalization broke through $310 billion with 70% year-on-year growth, my mind flashed back to the ups and downs of crypto payments over the past decade. I remember the 2017 bull market when countless projects raised funds under the banner of "payment revolution," only to disappear in the end. Back then, we all thought stablecoins would spread like wildfire, but it turned out the market took a full five years to truly bring this thing to life.
The situation is certainly different now. From the data, this expansion is driven neither by speculative enthusiasm nor by retail FOMO, but by genuine usage demand from payment applications, institutional needs, and the DeFi ecosystem. This reminds me of Bitcoin's early payment exploration in 2012—slow and clumsy, but that persistence in peer-to-peer value transfer ultimately transformed the entire landscape.
Toly's prediction that stablecoins will break through $1 trillion by 2026 sounds grand, but extrapolating backward from growth trends, it's not unreasonable. The issue is that history tells us that scale growth is often accompanied by new risks. When stablecoins evolve from trading tools into a "digital cash layer" that permeates payments, e-commerce, and even inter-enterprise settlements, variables like regulation, risk management, and issuer creditworthiness become critical.
In this cycle, what we should be wary of is not the stablecoin sector's prospects—those are already clear enough—but the ancient problems repeatedly overlooked in explosive growth: liquidity crises, issuance transparency, and whether the system will collapse when real stress tests arrive. We've seen too many seemingly stable things expose design flaws at critical moments.
Rather than predicting the future, it's better to examine the present: which stablecoin projects have risk control systems that can withstand a hundredfold scale test—that's the real investment logic.