Stablecoin Supply Growth (30d)

This compares the stablecoin balance hosted on a chain today against the balance thirty days ago. Because stablecoins are the main settlement asset on most networks, the series is read as a measure of how much settlement capacity is arriving on or leaving a chain. It combines new issuance, redemptions and movement across bridges into one number.

计算方式

(stablecoin supply on the chain now / stablecoin supply on the chain 30 days ago - 1) x 100

易产生误导之处

The number cannot distinguish new issuance from migration: when supply bridges from one chain to another, one chain shows growth and another shows an equal decline with no new dollars entering the system anywhere. A single institutional mint or redemption can move a smaller chain's figure by a large percentage, so the series is often one counterparty rather than a trend. Mints settle on-chain instantly while redemptions depend on banking hours and issuer processing, which introduces a timing asymmetry at period boundaries. Chains that run deposit incentive programs attract stablecoin balances temporarily and give them back when the program ends.

与股权的类比，以及为何该类比不成立

Deposit growth at a bank. The analogy fails because there is no depositor relationship or funding cost; balances move between chains at a bridge operator's speed and no institution retains them.

如何解读高值或低值

A positive value means more stablecoin value is recorded on the chain than a month ago and a negative value means less. Check whether the change coincides with a bridge migration before reading it as new issuance.