Today I saw a piece of news, and I felt it was worth paying attention to more than the market行情.
In the past, I had opposed stablecoins at some banks. Now they’re starting to seriously research issuing their own stablecoins, and even treating them as part of a future payments system.
This made me think of a shift:
A few years ago, everyone was still debating:
Can stablecoins survive?
Now the discussion is:
When will banks issue their own stablecoins?
This shows the industry has entered a new phase.
In the future, the focus of competition may no longer be who issues a coin first, but who can provide real payment and settlement capabilities.
Lately, when I observe the market, I’ve also noticed that fewer and fewer people are only looking at prices.
What I care about more is:
- Whether stablecoin usage is increasing;
- Whether on-chain payments are becoming more active;
- Whether there are changes in capital flows;
- Which applications are starting to actually launch.
Because real adoption won’t show up first on the K-line chart—it will show up first in trading data.
Recently, I’ll be using Ave.ai to look at trading, liquidity, and capital changes across different chains.
The story will keep changing.
But real usage will ultimately be reflected in the data.
If, in the future, banks all start issuing stablecoins, who do you think the biggest winner will be?
The payment network, the stablecoin issuer, or on-chain infrastructure?
In the past, I had opposed stablecoins at some banks. Now they’re starting to seriously research issuing their own stablecoins, and even treating them as part of a future payments system.
This made me think of a shift:
A few years ago, everyone was still debating:
Can stablecoins survive?
Now the discussion is:
When will banks issue their own stablecoins?
This shows the industry has entered a new phase.
In the future, the focus of competition may no longer be who issues a coin first, but who can provide real payment and settlement capabilities.
Lately, when I observe the market, I’ve also noticed that fewer and fewer people are only looking at prices.
What I care about more is:
- Whether stablecoin usage is increasing;
- Whether on-chain payments are becoming more active;
- Whether there are changes in capital flows;
- Which applications are starting to actually launch.
Because real adoption won’t show up first on the K-line chart—it will show up first in trading data.
Recently, I’ll be using Ave.ai to look at trading, liquidity, and capital changes across different chains.
The story will keep changing.
But real usage will ultimately be reflected in the data.
If, in the future, banks all start issuing stablecoins, who do you think the biggest winner will be?
The payment network, the stablecoin issuer, or on-chain infrastructure?