稳定币概念持续演绎，资金积极布局证券板块，证券ETF（512880）连续5日净流入超6亿元

Group 1 - The core viewpoint is that the application scenarios of stablecoins have expanded from cryptocurrency trading to multiple fields since the inception of USDT in 2014 [1] - Stablecoins have developed through several stages, including the launch of JPMCoin by JPMorgan in 2019 for institutional cross-border trade settlements, and the explosion of DeFi and the introduction of PayPalUSD in 2020 [1] - Currently, stablecoins have formed four main application scenarios: cryptocurrency trading, cross-border payments, consumer payments, and traditional capital markets [1] Group 2 - The future market size of stablecoins is expected to reach $3.5 trillion, based on neutral scenario calculations across four major scenarios [2] - In the cryptocurrency sector, with a 10% growth rate in the cryptocurrency market, stablecoins are projected to reach $36.33 billion by 2030, accounting for 8.22% of the market [2] - In cross-border payments, assuming stablecoins capture 20% of the market share, the demand will reach $29 trillion; for daily consumer payments, a 10% share would result in a demand of $12.16 billion; and for traditional capital markets, the demand for tokenization of assets is estimated at $13.33 billion [2]