The crypto ecosystem is seeing more impressive capital inflows than ever before, and current data from analytics platform CryptoQuant has revealed that the market liquidity has hit a new all-time high (ATH).

加密生態系統的資本流入比以往任何時候都更加令人印象深刻，分析平台 CryptoQuant 的當前數據顯示，市場流動性已創下歷史新高 (ATH)。

Stablecoin liquidity and altcoin boom

穩定幣流動性和山寨幣繁榮

Per CryptoQuant data, the total circulating supply of ERC-20-based stablecoins is pegged at an ATH of 76,150,161,366.21, up by 0.44%. CryptoQuant analysis projected that this boom in the stablecoin supply is beneficial not just to Bitcoin (BTC) but to altcoins as well.

根據 CryptoQuant 的數據，基於 ERC-20 的穩定幣的總流通供應量為 76,150,161,366.21 ATH，成長了 0.44%。 CryptoQuant 分析預測，穩定幣供應的繁榮不僅有利於比特幣（BTC），也有利於山寨幣。

Crypto Market Liquidity Surges, Surpasses All-Time High“The increase in stablecoin supply can indicate purchase demand not only for #Bitcoin but also for other coins, and to that extent, the current market atmosphere can be interpreted as positive.” – By @DanCoinInvestorLink… pic.twitter.com/mSzvkmbOog

加密貨幣市場流動性激增，突破歷史新高「穩定幣供應的增加不僅表明了對#Bitcoin的購買需求，也表明了對其他貨幣的購買需求，從這個意義上說，當前的市場氛圍可以被解讀為積極的。” – @DanCoinInvestorLink… pic.twitter.com/mSzvkmbOog

— CryptoQuant.com (@cryptoquant_com) March 11, 2024

— CryptoQuant.com (@cryptoquant_com) 2024 年 3 月 11 日

“The increase in stablecoin supply can indicate purchase demand not only for #Bitcoin but also for other coins, and to that extent, the current market atmosphere can be interpreted as positive,” Market Analyst and Researcher Crypto Dan said in a statement.

市場分析師兼研究員Crypto Dan 在一份聲明中表示：「穩定幣供應的增加不僅表明了對#Bitcoin 的購買需求，還表明了對其他代幣的購買需求，從這個意義上來說，當前的市場氛圍可以被解讀為積極的。”

Bitcoin remains the crucial anchor for broader market growth, and while its ATH sojourn remains a well-watched trend over the past week, CryptoQuant projects that the altcoin boom is around the corner.

比特幣仍然是更廣泛市場成長的關鍵支柱，儘管其 ATH 停留在過去一周仍然是備受關注的趨勢，但 CryptoQuant 預計山寨幣繁榮即將到來。

The most capitalized of the horde, Ethereum (ETH), is on track to welcome a crucial upgrade, the Dencun Upgrade that will make transaction costs and scalability on layer-2 protocols highly optimized to encourage more enhanced uses. 

其中資本最多的以太坊 (ETH) 即將迎來一次重要的升級，即 Dencun 升級，該升級將使第 2 層協議的交易成本和可擴展性得到高度優化，以鼓勵更多增強的使用。

Other notable altcoin moments

其他值得注意的山寨幣時刻

While the majority of the growth from altcoins is fueled by the correlation they bear with Bitcoin, many are not sitting on their laurels as active development is ongoing.

雖然山寨幣的成長大部分是由它們與比特幣的相關性所推動的，但許多山寨幣並沒有坐享其成，因為積極的發展正在進行中。

Cardano is also championing the release of new engines, with Midnight Protocol and Hydra among the most innovative that might change the game for its ecosystem's growth across the board.

卡爾達諾也支援新引擎的發布，其中 Midnight Protocol 和 Hydra 是最具創新性的引擎之一，可能會改變遊戲規則，促進其生態系統的全面發展。

While Cardano is a more established altcoin, meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) are also building strong momentum that might even push the former out of the top 10 of the most capitalized digital currencies. In general, altcoins have the upper hand to lead in this bull cycle, as they can combine their internal catalysts with Bitcoin hype to print massive valuations.

雖然卡爾達諾是一種更成熟的山寨幣，但像狗狗幣(DOGE) 和柴犬(SHIB) 這樣的模因幣也正在形成強勁的勢頭，甚至可能將前者擠出資本化程度最高的數字貨幣前10 名。總的來說，山寨幣在本次牛市週期中佔據上風，因為它們可以將其內部催化劑與比特幣炒作結合起來，從而產生巨大的估值。