#稳定币市场发展 The total market capitalization of stablecoins has surpassed $310 billion, a 70% increase over the past year — when I saw this number, I was reminded of the crazy times in 2017. Back then, we were all chasing the fantasy of ICOs, but few people truly cared about the underlying payment issues. Looking back now, the rise of stablecoins has precisely filled the most critical gap of that era.

Do you remember those failed payment projects? They fell victim to the volatility bubble. But stablecoins are different; they address real transaction needs rather than speculative dreams. From being a pegged tool for trading pairs to now becoming the infrastructure for global payment applications, this evolution has taken nearly seven years.

The logic behind the data is worth a close look: the widespread adoption of global payment applications, institutional demand, and DeFi development — these three forces are driving the growth, indicating that stablecoins have moved from a geek toy to a true mass-market application layer. The forecast to reach $2 trillion by 2028 sounds ambitious, but if you look at SWIFT’s market size, you'll realize this is not a fantasy but an inevitable market restructuring.

What’s different this time is that the growth logic is clear and sustainable. E-commerce, B2B payments, embedded finance — these are not castles in the air. Having survived the winter of 2018 and the Luna collapse in 2022, the stablecoin projects that remain have been repeatedly tested by the market.

A cycle review tells us that real opportunities always appear where practical problems are solved. The story of stablecoins, in essence, is the process of blockchain returning from idealism to reality.