#稳定币激增 The Stablecoin Craze: When the Dollar Wears the Emperor's New Clothes of Blockchain
Dear viewers, welcome to this episode of (Financial Confusion Awards)! Recently, the crypto world has staged a magical realism blockbuster - the asset scale of stablecoins is crazily expanding like dough rising with yeast, even the Federal Reserve is frightened and issued a warning overnight: take it easy, don't break the financial system! Speaking of stablecoins, they are simply the 'safety airbags' of the crypto world. When Bitcoin rises, everyone treats it as an ATM; when Bitcoin falls, everyone uses it as a bomb shelter. Recently, the US elections just ended, and the stablecoin printing machine is directly smoking - within a week, USDT and USDC printed an additional 5 billion US dollars, and even chains like Solana and TON have become 'dollar colonies', with on-chain USDT and USDC breeding wildly, as if performing (Dollar Zombie Invasion). Interestingly, Tether is printing money while hoarding Bitcoin, now holding 82,000 BTC, a true 'artistic behavior of using dollars to buy Bitcoin, and then using Bitcoin to prove that dollars are valuable'. The Federal Reserve is so anxious it's stomping its feet: 'The debt has piled up to the height of Mount Everest, and you are still playing high-leverage hedge funds?' But the crypto crowd responds: 'We don’t listen, we don’t listen, turtle reciting scriptures!' In November, the trading volume of stablecoins soared to 18 trillion US dollars, exchanges are about to be flooded and turned into water parks. Analysts are even more dramatic: '9.7 billion US dollars inflow? Bitcoin will be 100,000 US dollars soon!' As a result, Bitcoin hasn’t shot up yet, but stablecoins themselves have created a new market cap high, surpassing 227 billion US dollars, even Trump is in a hurry to urge Congress: 'Hurry up and legislate! I want to sign a name to become an internet celebrity before August!'
The most absurd thing is, even though the total market cap of cryptocurrencies evaporated by 900 billion, stablecoins have surged against the trend, with netizens complaining: 'This is not hedging, it’s clearly the retail investors throwing a party in a bear market!' Visa's CEO also joined the fun: 'Stablecoin trading volume has increased by 40% in the past two years!' - Translation: traditional payment giants are shaking in fear, researching overnight how to stick their logos onto the blockchain.
Nowadays, global banks and tech companies are joining the 'Stablecoin Battle Royale'. The EU's ban on USDT and USDC is not over yet, and Thailand and Japan are rushing to launch their own stablecoins, creating a scene comparable to (Squid Game). And what about ordinary investors? While shouting 'Long live decentralization', they are stuffing real money into 'on-chain dollars' issued by centralized companies. This plot is something even Shakespeare couldn't write!
In short, the magical reality of stablecoins tells us: in the crypto world, the only thing stable might be that everyone will never learn what 'stability' means.