#稳定币市场与应用 Seeing USD1 break the $3 billion market cap, what flashes through my mind isn't the number itself, but the "past events" in the stablecoin track over the years.

I still remember back in 2017, when USDT was just beginning to be widely used, how low the market's trust in it was. Everyone was asking the same question: Can this thing really be redeemed 1:1? But then everything changed. USDT proved itself over time, despite ongoing controversy.

Now, USD1's performance reminds me of a rule in the stablecoin market— the market is always looking for a "better option." It's not that USDT is no longer good, but that the ecosystem's richness is increasing. Binance launching a 20% annualized yield financial product is a key step, indicating that stablecoins are no longer just a means for trading pairs, but a genuine asset allocation tool.

This makes me think of the previous bull and bear cycle, where people's imagination for stablecoin application scenarios was very limited. Back then, stablecoins were mainly used for trading settlement. Now? Lending, wealth management, payments, cross-chain bridging—application scenarios are already widespread. The 7.68% growth in 24 hours might just be superficial; the real logic is that the market's recognition of the stability coin ecosystem's completeness is continuously deepening.

But I have to say, history shows us that any rapid growth deserves a closer look. The stablecoin track has already moved past the stage of "can it survive," and now it's about "who can do better." The key to this round's victory or defeat likely lies in balancing application ecosystem development and risk management.