#稳定币市场 Just finished reviewing Ethereum's 2025 performance report, and I am truly blown away! From "experimental network" to "global infrastructure," the story behind this transformation is incredible.

What excites me the most is the explosion of the stablecoin ecosystem—total supply surpassing $300 billion and annual trading volume around $46 trillion! What does this mean? Stablecoins are no longer just trading pairs; they are becoming the vessels for global value flow. Ethereum holds 54% of the market share, indicating that more and more institutions and users believe that large-scale capital movement on Ethereum is safe and efficient.

The participation of traditional financial giants like JPMorgan and BlackRock is an even more critical signal—they're not here for speculation but are genuinely deploying assets on Ethereum as infrastructure. The launch of the MONY Fund and BUIDL Fund, along with the surge in stablecoin trading volume, all validate a deeper logic: decentralized settlement networks are replacing traditional financial intermediaries.

The US passing the GENIUS Act to establish a federal stablecoin framework is also hugely significant! Regulation has shifted from "restrictions" to "standardization," marking maturity. The stablecoin market is moving from wild growth to institutionalization, which is a positive sign for the entire industry.

At this moment, what we see is not just technological progress but a fundamental transformation of the financial system. Decentralization is no longer an idealistic dream but a functioning infrastructural reality. The era has truly arrived!