币界网报道：Background: Stablecoin reserves hit a record high of $50 billion on cryptocurrency exchanges, showing market confidence and ample liquidity. According to CryptoQuant on-chain data, this is the highest level of stablecoins since their launch. Main event: USDC's supply on exchanges almost doubled, showing that investors prefer to shift to stablecoins supported by regulators and US bank policies. USDT is still dominant, but the growth of USDC reflects wider adoption and trust in fully backed stablecoins. The total market value of the stablecoin market reached $228 billion, up 17% year-on-year, mainly driven by demand from institutional and retail investors. Regulatory clarity on stablecoins from US policymakers has boosted market confidence. Potential impact: Geopolitical tensions have prompted investors to view cryptocurrencies as a safe and flexible means of storing value, and stablecoins have become an ideal choice due to their price stability and regulatory compliance. The increase in stablecoin reserves may promote institutional interest in altcoins and drive a rebound in mainstream currencies such as Bitcoin and Ethereum. With increased liquidity and replenishment of funds by large investors, the market may usher in a new round of bull market.