Industry Insights Behind the Stablecoin Craze

Recently, the stablecoin sector has experienced a wave of enthusiasm. Some large retailers have begun exploring the issuance of their own stablecoins, a move that has even affected the stock prices of traditional payment giants. However, surprisingly, the cryptocurrency circle has reacted coolly to this, with some funds even flowing into related concept stocks in the U.S. stock market. This contrast has sparked some reflections.

Why the Native Narrative of Cryptocurrency is "Unmoved" by the Stablecoin Frenzy?

Looking back, when politicians proposed issuing digital currencies, there was a general optimism within the industry about their potential impact. In contrast, today, with the emergence of stablecoin opportunities that truly have large-scale application potential, the cryptocurrency space seems somewhat "confused". The reasons behind this phenomenon deserve further investigation.

In fact, the core of the stablecoin business lies in the issuance channels. Currently, there are three main viable channels: cryptocurrency exchanges, internet giants, and traditional banks. These channels do not seem to be directly related to the development direction of most cryptocurrency projects.

Taking successful stablecoins in the market as an example, their success relies more on grasping the essential demand and channels rather than purely on technical advantages. Even projects with more standardized technology need to exchange profit sharing for issuance channels. Therefore, projects that intend to challenge market leaders solely based on "better technology" are likely to be engaging in futile efforts.

For ordinary investors, stablecoins may seem too "boring" and lack the imagination of getting rich quickly, which also explains the lukewarm reaction from the cryptocurrency community.

Internet Giants: Potential Disruptors in the Stablecoin Space

Traditional banks are at a disadvantage in this competition. The 24/7, borderless dollar system has a clear advantage over the banking system with redundant staff and cumbersome processes. The decline of the banking industry has instead created space for stablecoins to thrive.

The ones with real disruptive potential are those internet giants that have a large user base and mature payment scenarios. When e-commerce giants begin to explore stablecoins, it is not just a simple business expansion, but a way to bring billions of mainstream users into the cryptocurrency infrastructure.

The true value of the stablecoin craze lies in its ability to quietly infiltrate mainstream society through cryptocurrency infrastructure. As billions of users begin to use stablecoins in their daily lives, the demand for infrastructure in various fields such as decentralized finance, artificial intelligence, and gaming will increase accordingly. Although this long-term growth potential may be difficult to perceive in the short term, it should not be overlooked.

Industry Transformation Under the IPO Wave

The wave of listings for companies related to stablecoins may be coming soon. However, most me-too projects may lack real distribution capabilities, even though their market capitalization might be overestimated under the influence of the stablecoin concept.

From another perspective, this wave of listings is essentially spreading the value of cryptocurrency to Wall Street. The most noteworthy aspect is the subtle influence when traditional investors start to seriously study the stablecoin business model.

The stablecoin craze marks a turning point for cryptocurrencies, shifting from marginal innovation to mainstream business options. Currently, it is normal for the crypto space to feel a lack of heat because both the rules of the game and the main players have changed. However, in the long run, as the cryptocurrency infrastructure supports more real-world demands, every participant in the cryptocurrency ecosystem will benefit from this wave of infrastructure upgrades.