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).

加密生态系统的资本流入比以往任何时候都更加令人印象深刻，分析平台 CryptoQuant 的当前数据显示，市场流动性已创下历史新高 (ATH)。

Stablecoin liquidity and altcoin boom

稳定币流动性和山寨币繁荣

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.

根据 CryptoQuant 的数据，基于 ERC-20 的稳定币的总流通供应量为 76,150,161,366.21 ATH，增长了 0.44%。 CryptoQuant 分析预测，稳定币供应的繁荣不仅有利于比特币（BTC），也有利于山寨币。

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

加密货币市场流动性激增，突破历史新高“稳定币供应的增加不仅表明了对#Bitcoin的购买需求，也表明了对其他货币的购买需求，从这个意义上说，当前的市场氛围可以被解读为积极的。” – @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.

市场分析师兼研究员 Crypto Dan 在一份声明中表示：“稳定币供应的增加不仅表明了对#Bitcoin 的购买需求，还表明了对其他代币的购买需求，从这个意义上来说，当前的市场氛围可以被解读为积极的。”

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.

比特币仍然是更广泛市场增长的关键支柱，尽管其 ATH 停留在过去一周仍然是备受关注的趋势，但 CryptoQuant 预计山寨币繁荣即将到来。

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. 

其中资本最多的以太坊 (ETH) 即将迎来一次重要的升级，即 Dencun 升级，该升级将使第 2 层协议的交易成本和可扩展性得到高度优化，以鼓励更多增强的使用。

Other notable altcoin moments

其他值得注意的山寨币时刻

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.

虽然山寨币的增长大部分是由它们与比特币的相关性推动的，但许多山寨币并没有坐享其成，因为积极的发展正在进行中。

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.

卡尔达诺还支持新引擎的发布，其中 Midnight Protocol 和 Hydra 是最具创新性的引擎之一，可能会改变游戏规则，促进其生态系统的全面发展。

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.

虽然卡尔达诺是一种更成熟的山寨币，但像狗狗币 (DOGE) 和柴犬 (SHIB) 这样的模因币也正在形成强劲的势头，甚至可能将前者挤出资本化程度最高的数字货币前 10 名。总的来说，山寨币在本次牛市周期中占据上风，因为它们可以将其内部催化剂与比特币炒作结合起来，从而产生巨大的估值。