ChainCatcher 消息，据彭博社报道，比特币上周跌破 6 万美元，七日内市值蒸发约 2350 亿美元，较去年高点回撤近半。山寨币市值从 2021 年 11 月峰值的 4310 亿美元萎缩至约 1700 亿美元，近年创建的数千万枚代币中仅不到 1700 个仍有实质交易活动。然而与价格走势形成鲜明对比的是，加密行业中商业价值最高的业务正在加速增长。
稳定币年交易量达约 3900 亿美元，2025 年总交易量飙升 72% 至 33 万亿美元。超过 300 亿美元资产已完成代币化，BlackRock 代币化货币市场基金 BUIDL 资产规模达 24 亿美元。Visa 与 Mastercard 扩展稳定币结算能力，纳斯达克与 Kraken 合作提供代币化股票。
彭博智库 Mike McGlone 表示最重要的技术是稳定币，当你有稳定币时不需要 XRP 或比特币来储存价值，我们正在经历一场清洗，而这才刚刚开始。EMJ Capital 创始人 Eric Jackson 指出"比特币价格图表曾是整个加密故事，但现在不是了。
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