ST
稳定币 Sector
Overall strength 3.4LiveSTABLE · USD
A stablecoin is a type of cryptocurrency that is designed to maintain a stable value by being pegged to an external reference, such as a fiat currency.
Sector performance · Market comparison
Sector index (base: 2024-10-01 = 100)
119.05-1.80% (30D)
BTC change over the same period
-0.14% · Outperformed by -1.7pp
Loading...Leader analysis · Top 3 depth
Tether
USDT · CeFi · 稳定币发行商 · Sector share 60.9%
$0.99914655+0.00% · 24H
Market cap$184.05B
FDV$184.05B
Turnover25%
Sector share60.9%
Why it leads: USDT是稳定币赛道绝对龙头，市值与流动性均居首，覆盖交易、结算和跨平台资金周转，是加密市场最核心的美元锚定资产。
USDC
USDC · 上市公司 · CeFi · Sector share 24.2%
$0.99987851+0.00% · 24H
Market cap$73.13B
FDV$73.13B
Turnover15%
Sector share24.2%
Why it leads: USDC依托合规与上市公司背景，在机构支付、链上金融和法币出入金场景更具可信度，是稳定币中最受监管偏好的一类。
USDS
USDS · Sector share 3.3%
$0.99979095+0.01% · 24H
Market cap$9.92B
FDV$9.92B
Turnover1%
Sector share3.3%
Why it leads: USDS延续Maker系稳定币的去中心化与超额抵押逻辑，代表链上原生稳定资产的进化方向，在DeFi生态中具备结构性位置。
Sector constituent tokens
| # | Token | Rating | |||||
|---|---|---|---|---|---|---|---|
| 19 |  JEURJarvis Synthetic Euro | $0.76803354 | +25.35% | 0.00% | $632.40K | $3.55K | B |
| 2 |  YUYala Stablecoin | $0.04399504 | +22.41% | 0.00% | $985.64K | $12.00 | B |
| 11 |  MIMMagic Internet Money (Avalanche) | $0.13435533 | +10.15% | 0.00% | $823.25K | $3.94K | B |
| 13 |  KDAIKlaytn Dai | $0.09453893 | +0.81% | 0.00% | $757.63K | $351.39 | C |
| 1 |  CJPYConvertible JPY Token | $0.00465788 | +0.06% | 0.00% | $990.33K | $1.15K | C |
| 18 |  USDTOsmosis allUSDT | $0.99865873 | +0.05% | 0.00% | $638.22K | $2.93K | C |
| 7 |  CKUSDTChain-key USDT | $0.99918606 | +0.02% | +0.02% | $867.85K | $61.52K | C |
| 5 |  USDUUncap USD | $1.0013 | 0.00% | 0.00% | $916.21 | $1.69 | C |
| 8 |  SILKSilk | $1.2373 | 0.00% | 0.00% | $841.51K | $86.42K | C |
| 10 |  VEURVNX EURO | $0.29993844 | 0.00% | 0.00% | $829.05K | $0.09 | C |
| 14 |  USPPareto USP | $1.0001 | 0.00% | 0.00% | $757.46K | $45.04 | C |
| 17 |  EUSDeUSD | $1.063 | 0.00% | 0.00% | $641.63K | $0.16 | C |
| 20 |  BFUSDBitFi USD | $0.97985691 | 0.00% | 0.00% | $611.47K | $19.99 | C |
| 9 |  XMDMetal Dollar | $0.99909824 | -0.09% | 0.00% | $835.81K | $1.74M | B |
| 6 |  DUSDAlto DUSD | $0.9995265 | -0.12% | 0.00% | $911.62K | $5.30K | C |
| 12 |  SRUSDReservoir srUSD | $1.1511 | -0.26% | 0.00% | $774.48K | $4.50 | C |
| 3 |  CADCCAD Coin | $0.71053394 | -0.32% | 0.00% | $981.93K | $50.45K | C |
| 4 |  USDMMountain Protocol USD | $0.99721147 | -0.62% | 0.00% | $960.64K | $121.90 | C |
| 16 |  USDNSMARDEX USDN | $0.99569789 | -0.97% | 0.00% | $664.85K | $86.19 | C |
| 15 |  FXDFathom Dollar | $0.87395412 | -2.35% | 0.00% | $690.73K | $28.06K | C |
Investment thesis · AI synthesis
Bull case · 4
稳定币板块总市值庞大，仍是加密资金进出和避险配置的基础设施。
USDT与USDC占据主导，龙头集中度高，行业格局清晰。
稳定币在交易、支付、清算和DeFi抵押中的刚需属性强，需求韧性较好。
若市场风险偏好回升，稳定币仍会先受益于资金周转和链上活跃度提升。
Bear case · 3
板块近7日资金净流出，短线情绪偏弱。
稳定币本身收益属性有限，更多依赖生态使用量而非价格弹性。
监管、储备透明度和合规变化可能持续影响龙头估值与市场份额。
Sentiment & KOL positions
AI sentiment (last 7D)Bullish 57% · Neutral 0% · Bearish 43%
Bullish 57%Bearish 43%
稳定币是加密市场的底层基础设施，偏防守配置优先看USDT和USDC，若追求链上原生叙事可关注USDS。
Key event timeline · From emergence to present
2020-06生态扩张
DeFi 夏季放大稳定币需求
DeFi 交易、借贷和流动性挖矿升温，稳定币成为链上结算与抵押的基础资产。
2021-05机构入场
机构与支付场景加速采用
更多机构开始使用稳定币进行跨境结算、做市和链上资金管理。
2022-05风险点
算法稳定币风险重估
UST 脱锚事件冲击全行业，市场对算法稳定币和储备质量的风险定价明显上升。
2023-08监管警示
监管关注持续升温
多地监管持续关注稳定币储备、赎回机制和发行合规，行业进入更强约束阶段。
2024-03估值修复
链上美元叙事再度走强
随着链上结算、RWA 和支付叙事升温，稳定币重新成为资金轮动中的核心配置。
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