Odaily星球日报讯 据链上分析平台 CryptoQuant 的最新研究显示，尽管近期加密市场回调，但 ERC-20 稳定币供应量仍保持在 1850 亿美元的历史最高水平，这被视为加密市场持续增长的经典看涨信号。
CryptoQuant 贡献者 XWIN Research Japan 表示，仅以太坊网络上的 ERC-20 稳定币总供应量在 2025 年已达到 1850 亿美元的历史新高，并在本月继续徘徊在该水平。该研究认为，稳定币供应量的增长比比特币价格更具一致性，直接反映了进入加密生态系统的资本。同时，该研究强调稳定币供应比全球 M2 货币供应量更能作为衡量行业表现的标准。
此外，CryptoQuant 指出，最大加密货币交易所 Binance 的稳定币储备量“飙升”，与比特币和 ETH 储备量下降形成鲜明对比。这表明交易员可能已在高价位获利了结，并持有大量“干火药”，等待价格回调或宏观经济稳定时作为新一轮爆发性上涨的燃料。
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