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[Bitwise Report: Stablecoins May Become A Substitute For Money Market Funds] According To TechFlow, On October 22, The Latest 2024 Third Quarter Crypto Market Report Released By Crypto Asset Management Company Bitwise Showed That Stablecoins Are Becoming An Important Application Of Crypto Technology, And Its Influence Is Gradually Penetrating Into Multiple Trillion-dollar Markets. The Report Pointed Out That Although The Price Of Cryptocurrencies Has Fluctuated Less In The Past Six Months, The Bottom Of The Industry Is Making Significant Progress. According To Bitwise Data, In The First Half Of 2024, The Global Stablecoin Transaction Volume Has Reached 5.1 Trillion US Dollars, Close To Visa's 6.5 Trillion US Dollar Transaction Volume. At Present, The Total Amount Of US Treasury Bonds Held By The Top Five Stablecoins Has Exceeded That Of Some G20 Countries Such As South Korea And Germany. The Business Model Of Stablecoin Issuers Mainly Earns Interest By Holding Income Assets Such As US Treasury Bonds. This Model Has Significantly Improved The Profitability Of Issuers Such As Tether, And Tether's Profit Last Year Even Exceeded That Of Asset Management Giant BlackRock. With Traditional Payment Giants Such As PayPal Entering The Stablecoin Market, Bitwise Believes That Stablecoins May Become A Substitute For The $6.3 Trillion Money Market Fund. The Report Points Out That If Stablecoin Issuers Can Return Part Of The Government Bond Income As Interest To Holders, Stablecoins Will Become A Powerful Tool In Investment Portfolios
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