#稳定币 The data from a16z's annual report is very noteworthy — stablecoin trading volume has reached $46 trillion in 2024, a figure that exceeds PayPal by 20 times and is close to three times that of Visa. This is not just a number; it reflects the accelerating maturity of on-chain payment infrastructure.

From on-chain signals, the large-scale application of stablecoins has shifted from expectation to reality. The traditional asset tokenization combined with expanding payment scenarios, with the key in 2026 being whether prediction markets, stablecoin payments, and mobile applications can form a closed loop.

Currently, the focus should be on tracking the fund flow of stablecoins and cross-chain transfer directions. If large inflows of USDC/USDT into mainstream public chain DeFi ecosystems, especially in payment and trading counterpart scenarios, are observed, it indicates that institutions are preparing for commercial use of payment infrastructure. Conversely, if funds are mainly concentrated in speculative contracts, the hype is still in the speculative stage.

In the short term, continue to observe whale wallet stablecoin holdings and on-chain contract interaction frequency, as these micro signals often reflect the authenticity of trend predictions before macro narratives.