#稳定币市场发展 USD1 market capitalization breaks through $3 billion USD, this data point is worth paying attention to. The stablecoin track is indeed evolving — from the early monopoly of USDT to today's diversified competitive landscape. Yi Lihua's remarks reveal the institutional perspective: stablecoins are not only trading tools, but also the infrastructure for crypto assets to enter mainstream finance.

From an on-chain perspective, USD1's growth rate and the capital support behind it (Liquid Capital's heavy position in WLFI) indicate this is not short-term speculation. The competitive logic of stablecoins has shifted from purely fighting for liquidity to comparing ecosystem integration and risk management capabilities. The $3 billion scale is still mid-tier in the stablecoin sector, but the growth rate and endorsement direction warrant tracking.

It is recommended to focus on two signals: first, the trend of USD1's on-chain active addresses and daily transaction volume, which determines its actual application foundation; second, the changes in major whale wallet holdings of USD1, as institutional real actions often carry more reference value than public statements. The differentiation of the stablecoin track is already set, and subsequent competition will focus on compliance, yield rates, and cross-chain deployment.