#稳定币 Seeing Galaxy's 2026 forecast and Luke Gromen's views, a familiar feeling arises—this kind of uncertainty I experienced in 2017 and 2021.

Interestingly, the prediction that stablecoin trading volume will surpass the US ACH system indicates that the maturity of crypto infrastructure is indeed improving. But what I pay more attention to is the deeper logic reflected in Tether's movements. Luke mentioned Tether increasing its gold holdings and investing in AI, which is worth pondering. A stablecoin giant's asset allocation adjustments often signal their judgment of the liquidity environment—what are they telling us?

Looking back at history, every "unpredictable large fluctuation" filters out investors. During the 2022 crash, those who could see the changes in the stablecoin ecosystem survived; during the 2023 rebound, those who understood the direction of infrastructure iteration seized the opportunity. Now, the 2026 forecast is also polarized—some see the prospects of the payment revolution (DeFi + tokenization + on-chain payments), while others sense the risk of a liquidity cliff.

Short-term pressure is real. But the issue isn't the volatility itself, but whether we can understand where the true needs of the crypto market lie through the lens of stablecoins. If stablecoins are truly to become the backbone of payments, then all current fluctuations might be necessary pains in infrastructure evolution.

The key is to maintain cognition and not be misled by short-term unpredictability.