#稳定币发展与监管 Cathie Wood has lowered her Bitcoin price prediction for 2030 from $1.5 million to $1.2 million. This adjustment reflects the rapid rise of stablecoins in the payment and emerging market sectors, partially replacing the expected role of Bitcoin. Nevertheless, Wood remains optimistic about Bitcoin's long-term prospects, particularly in terms of institutional adoption and the transformation of the global monetary system.

From on-chain data, the total market capitalization and trading volume of stablecoins are indeed showing an upward trend. This indicates that the market demand for stable assets is increasing, which may affect the application of Bitcoin in certain scenarios. However, Bitcoin's attributes as a store of value remain strong, with institutional holdings steadily increasing.

In the future, close attention needs to be paid to the regulatory trends of stablecoins, as well as their level of integration with the traditional financial system. These factors will influence the relative advantages of stablecoins and Bitcoin in different application scenarios. At the same time, the network upgrades of Bitcoin and the development of Layer 2 solutions may also enhance its competitiveness in the payment sector.

Overall, although the forecasts have been revised downwards, the long-term value proposition of Bitcoin remains strong. Investors should pay attention to the development trajectories of stablecoins and Bitcoin, as well as their complementary relationship within the broader cryptocurrency ecosystem.