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老菜Sen
#Circle财报在即,稳定币增长能否兑现收益?
稳定币规模的持续增长是 Circle 的基本盘,但在当前的利率环境和渠道结构下,这种增长难以迅速、等比例地兑现为丰厚收益。Circle 能否真正打破“稳定币悖论”,取决于其非利息收入(如支付网络手续费)能否加速崛起,并成功降低对传统分销渠道的依赖。
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