ห้องเก็บสินทรัพย์ "Yuebao" บนเชน: การอพยพของสภาพคล่องที่อยู่เบื้องหลังการบินสูงของสตablecoin ที่ให้ผลตอบแทน
Author: CoinFound
For a long time, stablecoins have played a core role in the market more like an on-chain USD settlement tool: they serve as transaction mediums, safe-haven assets, cross-border transfer channels, and foundational liquidity for DeFi—the most important "silent infrastructure" in the crypto ecosystem. However, entering 2026, this track has begun to experience deeper structural differentiation: increasingly, capital is no longer satisfied with "holding dollar-anchored assets," but instead begins pursuing "holding an on-chain USD asset that can continue to generate yield, be collateralized, be nested, and participate in strategy combinations."
CoinFound's latest research report "On-chain '余额宝' Moment: Liquidity Migration Behind the Surge of Yield-Bearing Stablecoins" indicates that yield-bearing stablecoins have transitioned from niche category to high-speed growth. As of mid-March 2026, the global stablecoin total market cap is approximately in the 320 billion USD range;