#AI与加密融合 The $46 trillion stablecoin trading volume is a figure worth examining closely. Surpassing PayPal by 20 times and approaching three times Visa, this is not just simple growth but a fundamental shift in the payment infrastructure.

From an on-chain data perspective, the large-scale application of stablecoins signals several trends to watch: first, the migration of cross-border capital flows; second, the increasing maturity of institutional channels into the crypto ecosystem. The asset tokenization process mentioned in the a16z report—where US stocks, commodities, and indices are being tokenized—coupled with the liquidity scale of stablecoins, is reshaping financial infrastructure.

Interestingly, the integration of AI and crypto is another noteworthy trend. By 2026, the widespread adoption of decentralized payment systems is expected, which essentially means that automated payment logic at the smart contract level will become mainstream. Monitoring large inflows and outflows on exchanges already hints at this trend—funds cycling within the stablecoin ecosystem are accelerating.

The key is not just to focus on trading volume numbers but to understand the underlying capital accumulation logic and behavioral changes among ecosystem participants. That’s where the next opportunities lie.