FI
法币支持稳定币 Sector
Overall strength 6.1LiveSTABLECOIN · FIAT
A fiat-backed stablecoin is designed to maintain a stable value by being pegged to a reserve of fiat currency, such as the US dollar, euro, or other national currencies.
Sector performance · Market comparison
Sector index (base: 2024-10-01 = 100)
117.09-1.56% (30D)
BTC change over the same period
-0.14% · Outperformed by -1.4pp
Loading...Leader analysis · Top 3 depth
Tether
USDT · CeFi · 稳定币发行商 · Sector share 63.0%
$0.99914655+0.00% · 24H
Market cap$184.05B
FDV$184.05B
Turnover25%
Sector share63.0%
Why it leads: USDT是法币稳定币赛道绝对核心，市值和流动性均居首，覆盖交易、结算与跨链场景，几乎是加密市场的基础美元通道。
USDC
USDC · 上市公司 · CeFi · Sector share 25.0%
$0.99987851+0.00% · 24H
Market cap$73.13B
FDV$73.13B
Turnover15%
Sector share25.0%
Why it leads: USDC以合规与透明度见长，且背靠上市公司体系，机构接受度高，在支付、托管和链上金融中具备更强的合规优势。
USDS
USDS · Sector share 3.4%
$0.99979095+0.01% · 24H
Market cap$9.92B
FDV$9.92B
Turnover1%
Sector share3.4%
Why it leads: USDS作为头部稳定币之一，虽规模较小但定位清晰，受益于稳定币整体扩容与链上美元需求，具备补充型龙头属性。
Sector constituent tokens
| # | Token | Rating | |||||
|---|---|---|---|---|---|---|---|
| 7 |  KDAIKlaytn Dai | $0.09453893 | +0.81% | 0.00% | $757.63K | $351.39 | C |
| 9 |  WBRLBrazilian real | $0.19469094 | +0.42% | +1.65% | $571.62K | $1.45K | C |
| 13 |  GBPEMonerium GBP emoney | $1.3435 | +0.17% | 0.00% | $542.24K | $8.61K | C |
| 14 |  USDSSperax USD | $0.99903053 | +0.14% | +0.15% | $515.71K | $73.37K | B |
| 1 |  CJPYConvertible JPY Token | $0.00465788 | +0.06% | 0.00% | $990.33K | $1.15K | C |
| 17 |  USDTBUSDtb | $1.0004 | +0.03% | 0.00% | $452.69M | $4.97M | B |
| 5 |  CKUSDTChain-key USDT | $0.99918606 | +0.02% | +0.02% | $867.85K | $61.52K | C |
| 8 |  GHOGHO | $0.99845793 | +0.02% | +0.28% | $598.08M | $7.12M | B |
| 18 |  USD+Overnight.fi USD+ (Base) | $0.9999378 | +0.02% | 0.00% | $443.41K | $19.63K | C |
| 12 |  USD0Usual USD | $0.99875815 | +0.01% | 0.00% | $552.50M | $740.07K | B |
| 4 |  OUSDTOpenUSDT | $0.9992589 | +0.00% | +0.00% | $879.53K | $894.98K | B+ |
| 6 |  VEURVNX EURO | $0.29993844 | 0.00% | 0.00% | $829.05K | $0.09 | C |
| 19 |  FDUSDFirst Digital USD | $0.99702459 | -0.02% | +0.02% | $346.16M | $69.01M | B |
| 10 |  HLUSDHeLa USD | $0.99910563 | -0.03% | 0.00% | $566.45K | $2.05M | B |
| 15 |  TUSDTrueUSD | $0.99708664 | -0.03% | -0.07% | $493.07M | $24.97M | C |
| 20 |  BOBBOB | $0.99946208 | -0.03% | +0.13% | $341.29K | $437.72 | C |
| 2 |  CADCCAD Coin | $0.71053394 | -0.32% | 0.00% | $981.93K | $50.45K | C |
| 16 |  A7A5A7A5 | $0.0122637 | -0.49% | -2.79% | $481.00M | $817.71 | C |
| 3 |  USDMMountain Protocol USD | $0.99721147 | -0.62% | 0.00% | $960.64K | $121.90 | C |
| 11 |  USTCWrapped USTC | $0.00636441 | -2.66% | 0.00% | $566.45K | $195.55 | C |
Investment thesis · AI synthesis
Bull case · 4
稳定币仍是加密市场最核心的结算基础设施，需求长期存在。
USDT与USDC占据主要流动性入口，行业集中度高，龙头优势明显。
市场风险偏好回落时，资金更倾向回流稳定币，提升其防御属性。
合规支付、链上清算和交易所保证金场景持续扩张，支撑使用量。
Bear case · 3
板块近7日资金净流出明显，短线热度偏弱。
稳定币本身收益属性有限，更多依赖场景扩张而非价格弹性。
监管、储备透明度与发行方信用仍是长期不确定因素。
Sentiment & KOL positions
AI sentiment (last 7D)Bullish 57% · Neutral 0% · Bearish 43%
Bullish 57%Bearish 43%
中期仍可作为加密资金避风港配置，优先关注USDT与USDC的流动性和合规优势，短线不追涨。
Key event timeline · From emergence to present
2020-03风险点
市场波动凸显稳定币需求
极端行情下，稳定币作为避险和结算工具的重要性上升，行业关注度进一步提升。
2021-05机构入场
机构资金与支付场景加速采用
更多机构与支付场景开始使用法币支持稳定币，推动其从交易工具向基础金融设施演进。
2022-05监管警示
脱锚事件引发风险重估
部分稳定币脱锚后，市场重新评估储备质量、赎回机制与监管风险，行业分化加剧。
2024-01估值修复
现货与链上结算需求回暖
随着链上交易与跨境结算需求回升，法币支持稳定币重新成为资金流入和流动性配置核心。
2025-12生态扩张
多链与支付网络继续扩展
稳定币在多链、支付和机构结算中的渗透继续提升，板块维持高流动性但也更受监管与储备透明度影响。
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