Bitwise Report: Tether's profit surpassed BlackRock last year, stablecoins are becoming an important application of cryptocurrency technology

According to Bitwise's Q3 Cryptocurrency Market Report, stablecoins are becoming an important application of cryptocurrency technology, gradually penetrating into multiple trillion-dollar markets. Bitwise pointed out that the total amount of U.S. Treasury bonds held by the top five stablecoins has surpassed some G20 countries like Germany. In addition, several listed companies such as Visa have started adopting stablecoins and Tether even exceeded BlackRock in profits last year.

The business model of stablecoins earns interest through holding income assets such as government bonds, making them a bridge between traditional finance and digital economy. Despite price stability, investment opportunities still exist. Bitwise believes that with clear regulation and the participation of payment giants, stablecoins may become alternatives to money market funds. Furthermore, blockchains like Ethereum also benefit from the growth of stablecoins.

The report suggests that the potential for stablecoin is enormous and investors should closely monitor its development.