<p>USDC c&#7911;a Circle &#273;&atilde; v&#432;&#7907;t qua USDT c&#7911;a Tether v&#7873; kh&#7889;i l&#432;&#7907;ng giao d&#7883;ch h&agrave;ng n&#259;m l&#7847;n &#273;&#7847;u ti&ecirc;n, &#273;&aacute;nh d&#7845;u m&#7897;t b&#432;&#7899;c ngo&#7863;t quan tr&#7885;ng tr&ecirc;n th&#7883; tr&#432;&#7901;ng stablecoin.</p>
<p>Trong su&#7889;t m&#7897;t th&#7853;p k&#7927;, USDT lu&ocirc;n &#273;&#432;&#7907;c xem l&agrave; <a href="https://beincrypto.com/exploring-tether-usdt-key-position/" target="_blank" rel="noreferrer noopener">vua c&#7911;a c&aacute;c stablecoin</a>. Hi&#7879;n t&#7841;i, USDT v&#7851;n c&oacute; v&#7889;n h&oacute;a th&#7883; tr&#432;&#7901;ng l&ecirc;n t&#7899;i 187 t&#7927; USD&mdash;g&#7847;n nh&#432; g&#7845;p 2.5 l&#7847;n so v&#7899;i v&#7889;n h&oacute;a 75 t&#7927; USD c&#7911;a USDC. Tuy nhi&ecirc;n, n&#259;m 2025 &#273;&atilde; cho th&#7845;y m&#7897;t di&#7877;n bi&#7871;n m&#7899;i: stablecoin nh&#7887; h&#417;n n&agrave;y l&#7841;i &#273;ang &#273;&#432;&#7907;c s&#7917; d&#7909;ng &#273;&#7875; chuy&#7875;n ti&#7873;n nhi&#7873;u h&#417;n.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-usdc-leads-by-39">USDC d&#7851;n &#273;&#7847;u v&#7899;i 39%</h2>

<p>Theo d&#7919; li&#7879;u t&#7915; Artemis Analytics, <a href="https://app.artemisanalytics.com/asset/usdc?from=assets&amp;category=KEY_METRICS&amp;metric=ARTEMIS_STABLECOIN_TRANSFER_VOLUME" target="_blank" rel="noreferrer noopener">USDC &#273;&atilde; x&#7917; l&yacute;</a> 18.3 ngh&igrave;n t&#7927; USD giao d&#7883;ch v&agrave;o n&#259;m 2025, so v&#7899;i <a href="https://app.artemisanalytics.com/asset/usdt?from=assets&amp;category=STABLECOINS&amp;metric=ARTEMIS_STABLECOIN_TRANSFER_VOLUME" target="_blank" rel="noreferrer noopener">USDT</a> v&#7899;i 13.2 ngh&igrave;n t&#7927; USD&mdash;kho&#7843;ng c&aacute;ch l&ecirc;n &#273;&#7871;n 39%.</p>
<p>Ch&#7881; s&#7889; Artemis Stablecoin Transfer Volume &#273;&atilde; lo&#7841;i b&#7887; c&aacute;c giao d&#7883;ch c&#7911;a bot MEV v&agrave; c&aacute;c giao d&#7883;ch chuy&#7875;n ti&#7873;n n&#7897;i b&#7897; gi&#7919;a c&aacute;c s&agrave;n, &#273;&#7875; t&#7853;p trung v&agrave;o ho&#7841;t &#273;&#7897;ng th&#7921;c s&#7921; tr&ecirc;n blockchain. Ch&#7881; s&#7889; n&agrave;y gi&uacute;p &#273;&aacute;nh gi&aacute; s&aacute;t th&#7921;c nh&#7845;t c&aacute;c h&igrave;nh th&#7913;c thanh to&aacute;n th&#7921;c ti&#7877;n v&agrave; ho&#7841;t &#273;&#7897;ng trong DeFi, thay v&igrave; s&#7889; l&#432;&#7907;ng giao d&#7883;ch b&#7883; th&#7893;i ph&#7891;ng b&#7903;i trading t&#7921; &#273;&#7897;ng. N&oacute;i c&aacute;ch kh&aacute;c, nh&#7919;ng giao d&#7883;ch chuy&#7875;n ti&#7873;n th&#7921;c, thanh to&aacute;n P2P hay t&#432;&#417;ng t&aacute;c DeFi &#273;&#7873;u &#273;&#432;&#7907;c t&iacute;nh; c&ograve;n giao d&#7883;ch bot t&#7921; &#273;&#7897;ng hay chuy&#7875;n n&#7897;i b&#7897; v&iacute; s&agrave;n th&igrave; kh&ocirc;ng.</p>
<img style="height:400px;width:640px;" decoding="async" src="https://assets.beincrypto.com/img/p8VD5WDDUXtvYHCDwoHWASqW_kc=/smart/7c1a1320264f4873a09d7b56088fea40" alt="" class="wp-image-790029">USDC &#273;&atilde; x&#7917; l&yacute; 18.3 ngh&igrave;n t&#7927; USD giao d&#7883;ch trong n&#259;m 2025, trong khi USDT ch&#7881; &#273;&#7841;t 13.2 ngh&igrave;n t&#7927; USD&mdash;t&#432;&#417;ng &#273;&#432;&#417;ng kho&#7843;ng c&aacute;ch 39%. Ngu&#7891;n: Artemis (Bi&ecirc;n t&#7853;p b&#7903;i BeInCrypto)

<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-why-usdc-pulled-ahead">L&yacute; do USDC v&#432;&#7907;t l&ecirc;n d&#7851;n &#273;&#7847;u</h2>

<p>C&oacute; b&#7889;n nguy&ecirc;n nh&acirc;n ch&iacute;nh t&#7841;o n&ecirc;n s&#7921; ch&ecirc;nh l&#7879;ch n&agrave;y: c&aacute;ch DeFi ho&#7841;t &#273;&#7897;ng, khu v&#7921;c blockchain di&#7877;n ra m&#7841;nh, m&#7897;t y&#7871;u t&#7889; b&#7845;t ng&#7901; xu&#7845;t hi&#7879;n, c&ugrave;ng th&#7901;i &#273;i&#7875;m si&#7871;t ch&#7863;t quy &#273;&#7883;nh ph&aacute;p l&yacute;.</p>
<h3 class="wp-block-heading" id="h-1-defi-turnover">1. Kh&#7889;i l&#432;&#7907;ng giao d&#7883;ch DeFi</h3>

<p>C&aacute;c chuy&ecirc;n gia cho r&#7857;ng s&#7921; kh&aacute;c bi&#7879;t ch&#7911; y&#7871;u &#273;&#7871;n t&#7915; c&aacute;ch m&#7895;i stablecoin &#273;&#432;&#7907;c s&#7917; d&#7909;ng. <a href="https://www.bloomberg.com/news/articles/2026-01-08/stablecoin-transactions-rose-to-record-33-trillion-led-by-usdc?embedded-checkout=true" target="_blank" rel="noreferrer noopener">USDC chi&#7871;m &#432;u th&#7871; tr&ecirc;n c&aacute;c n&#7873;n t&#7843;ng DeFi</a>, n&#417;i nh&agrave; &#273;&#7847;u t&#432; giao d&#7883;ch li&ecirc;n t&#7909;c v&agrave;o-ra th&#7883; tr&#432;&#7901;ng. C&ugrave;ng m&#7897;t &#273;&#7891;ng USD c&oacute; th&#7875; &#273;&#432;&#7907;c s&#7917; d&#7909;ng l&#7863;p l&#7841;i nhi&#7873;u l&#7847;n qua c&aacute;c giao th&#7913;c lending ho&#7863;c DEX swap. Trong khi &#273;&oacute;, USDT ch&#7911; y&#7871;u &#273;&oacute;ng vai tr&ograve; nh&#432; n&#417;i l&#432;u gi&#7919; gi&aacute; tr&#7883; v&agrave; thanh to&aacute;n&mdash;ng&#432;&#7901;i d&ugrave;ng th&#432;&#7901;ng gi&#7919; USDT trong v&iacute; l&acirc;u d&agrave;i h&#417;n thay v&igrave; li&ecirc;n t&#7909;c giao d&#7883;ch.</p>
<h3 class="wp-block-heading" id="h-2-the-solana-factor">2. Y&#7871;u t&#7889; Solana</h3>

<p><a href="https://www.helius.dev/blog/solanas-stablecoin-landscape" target="_blank" rel="noreferrer noopener">S&#7921; ph&aacute;t tri&#7875;n b&ugrave;ng n&#7893; c&#7911;a DeFi tr&ecirc;n Solana</a> &#273;&atilde; tr&#7903; th&agrave;nh &#273;&#7897;ng l&#7921;c l&#7899;n nh&#7845;t th&uacute;c &#273;&#7849;y USDC. Stablecoin n&agrave;y hi&#7879;n chi&#7871;m &#273;&#7871;n h&#417;n 70% t&#7893;ng s&#7889; stablecoin tr&ecirc;n m&#7841;ng Solana, c&ograve;n USDT l&#7841;i ch&#7911; y&#7871;u t&#7853;p trung &#7903; Tron. Ch&#7881; ri&ecirc;ng qu&yacute; 1/2025, t&#7893;ng l&#432;&#7907;ng stablecoin tr&ecirc;n Solana &#273;&atilde; t&#259;ng v&#7885;t t&#7915; 5.2 t&#7927; USD l&ecirc;n 11.7 t&#7927; USD&mdash;t&#7913;c t&#259;ng 125%, ch&#7911; y&#7871;u nh&#7901; d&ograve;ng v&#7889;n ch&#7843;y v&agrave;o USDC.</p>
<h3 class="wp-block-heading" id="h-3-the-trump-token-irony">3. S&#7921; tr&#7899; tr&ecirc;u c&#7911;a Trump token</h3>

<p>Vi&#7879;c ra m&#7855;t memecoin TRUMP v&agrave;o th&aacute;ng 01/2025 v&ocirc; t&igrave;nh &#273;&atilde; th&uacute;c &#273;&#7849;y m&#7841;nh m&#7869; l&agrave;n s&oacute;ng s&#7917; d&#7909;ng USDC. Pool thanh kho&#7843;n ch&iacute;nh c&#7911;a token n&agrave;y tr&ecirc;n Meteora DEX l&#7841;i &#273;&#432;&#7907;c gh&eacute;p v&#7899;i USDC thay v&igrave; USDT. &#272;i&#7873;u n&agrave;y bu&#7897;c c&aacute;c nh&agrave; &#273;&#7847;u t&#432; mu&#7889;n mua TRUMP &#273;&#7873;u ph&#7843;i c&oacute; USDC tr&#432;&#7899;c ti&ecirc;n, t&#7841;o n&ecirc;n l&agrave;n s&oacute;ng nhu c&#7847;u l&#7899;n, lan r&#7897;ng to&agrave;n h&#7879; sinh th&aacute;i DeFi c&#7911;a Solana.</p>
<p>&#272;i&#7873;u th&uacute; v&#7883; l&agrave;: gia &#273;&igrave;nh Trump &#273;&atilde; ph&aacute;t h&agrave;nh <a href="https://vn.beincrypto.com/world-liberty-financial-federal-charter-usd1-stablecoin/" target="_blank" rel="noreferrer noopener">stablecoin c&#7911;a ri&ecirc;ng m&igrave;nh &ndash; USD1</a>, th&ocirc;ng qua World Liberty Financial v&agrave;o th&aacute;ng 03. Nh&#432;ng ch&iacute;nh token TRUMP l&#7845;y c&#7843;m h&#7913;ng t&#7915; h&#7885; l&#7841;i v&ocirc; t&igrave;nh &#273;&#7849;y m&#7841;nh &#273;&#7889;i th&#7911; l&agrave; USDC.</p>
<h3 class="wp-block-heading" id="h-4-regulatory-tailwinds">4. Thu&#7853;n l&#7907;i t&#7915; ch&iacute;nh s&aacute;ch quy &#273;&#7883;nh</h3>

<p>S&#7921; ki&#7879;n lu&#7853;t <a href="https://vn.beincrypto.com/will-genius-act-ban-tether-usdt-stablecoin/" target="_blank" rel="noreferrer noopener">Genius Act t&#7841;i M&#7929; v&agrave;o th&aacute;ng 07</a> &#273;i v&agrave;o th&#7921;c ti&#7877;n &#273;&atilde; &#273;&#7863;t ra chu&#7849;n m&#7921;c ph&aacute;p l&yacute; r&otilde; r&agrave;ng d&agrave;nh cho c&aacute;c &#273;&#417;n v&#7883; ph&aacute;t h&agrave;nh stablecoin. Theo quan s&aacute;t, USDC v&#7889;n t&#7853;p trung v&agrave;o tu&acirc;n th&#7911; quy &#273;&#7883;nh v&agrave; minh b&#7841;ch t&agrave;i s&#7843;n d&#7921; tr&#7919; t&#7915; l&acirc;u, n&ecirc;n &#273;&atilde; t&#7853;n d&#7909;ng r&#7845;t t&#7889;t &#432;u th&#7871; n&agrave;y khi khung ph&aacute;p l&yacute; m&#7899;i xu&#7845;t hi&#7879;n. &#7902; Ch&acirc;u &Acirc;u, <a href="https://vn.beincrypto.com/stablecoin-circle-phat-trien-nho-mica/" target="_blank" rel="noreferrer noopener">s&#7921; tu&acirc;n th&#7911; chu&#7849;n MiCA c&#7911;a USDC</a> c&#361;ng gi&uacute;p stablecoin n&agrave;y v&#7919;ng v&agrave;ng, trong khi nhi&#7873;u s&agrave;n l&#7841;i d&#7847;n lo&#7841;i b&#7887; USDT.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-a-rising-tide">M&#7897;t l&agrave;n s&oacute;ng t&#259;ng tr&#432;&#7903;ng</h2>

<p>Vi&#7879;c USDC t&#259;ng tr&#432;&#7903;ng m&#7841;nh &#273;&atilde; g&oacute;p ph&#7847;n &#273;&#432;a t&#7893;ng ho&#7841;t &#273;&#7897;ng giao d&#7883;ch stablecoin l&ecirc;n m&#7913;c k&#7927; l&#7909;c. T&#7893;ng gi&aacute; tr&#7883; giao d&#7883;ch stablecoin trong n&#259;m 2025 &#273;&atilde; ch&#7841;m m&#7889;c 33 ngh&igrave;n t&#7927; USD, t&#259;ng 72% so v&#7899;i n&#259;m tr&#432;&#7899;c. Ri&ecirc;ng Qu&yacute; 4 &#273;&atilde; c&oacute; t&#7899;i 11 ngh&igrave;n t&#7927; USD giao d&#7883;ch, t&#259;ng t&#7889;c r&otilde; r&#7879;t so v&#7899;i 8.8 ngh&igrave;n t&#7927; USD &#7903; Qu&yacute; 3.</p>
<p>Bloomberg Intelligence d&#7921; &#273;o&aacute;n giao d&#7883;ch thanh to&aacute;n b&#7857;ng stablecoin c&oacute; th&#7875; &#273;&#7841;t 56 ngh&igrave;n t&#7927; USD v&agrave;o n&#259;m 2030, &#273;&#432;a l&#297;nh v&#7921;c n&agrave;y tr&#7903; th&agrave;nh ph&#432;&#417;ng ti&#7879;n thanh to&aacute;n to&agrave;n c&#7847;u l&#7899;n kh&ocirc;ng thua k&eacute;m c&aacute;c h&#7879; th&#7889;ng truy&#7873;n th&#7889;ng.</p>


USDC cuối cùng đã vượt USDT: Solana và Trump đã giúp điều này xảy ra như thế nào

<p>USDC c&#7911;a Circle &#273;&atilde; v&#432;&#7907;t qua USDT c&#7911;a Tether v&#7873; kh&#7889;i l&#432;&#7907;ng giao d&#7883;ch h&agrave;ng n&#259;m l&#7847;n &#273;&#7847;u ti&ecirc;n, &#273;&aacute;nh d&#7845;u m&#7897;t b&#432;&#7899;c ngo&#7863;t quan tr&#7885;ng tr&ecirc;n th&#7883; tr&#432;&#7901;ng stablecoin.</p>
<p>Trong su&#7889;t m&#7897;t th&#7853;p k&#7927;, USDT lu&ocirc;n &#273;&#432;&#7907;c xem l&agrave; <a href="https://beincrypto.com/exploring-tether-usdt-key-position/" target="_blank" rel="noreferrer noopener">vua c&#7911;a c&aacute;c stablecoin</a>. Hi&#7879;n t&#7841;i, USDT v&#7851;n c&oacute; v&#7889;n h&oacute;a th&#7883; tr&#432;&#7901;ng l&ecirc;n t&#7899;i 187 t&#7927; USD&mdash;g&#7847;n nh&#432; g&#7845;p 2.5 l&#7847;n so v&#7899;i v&#7889;n h&oacute;a 75 t&#7927; USD c&#7911;a USDC. Tuy nhi&ecirc;n, n&#259;m 2025 &#273;&atilde; cho th&#7845;y m&#7897;t di&#7877;n bi&#7871;n m&#7899;i: stablecoin nh&#7887; h&#417;n n&agrave;y l&#7841;i &#273;ang &#273;&#432;&#7907;c s&#7917; d&#7909;ng &#273;&#7875; chuy&#7875;n ti&#7873;n nhi&#7873;u h&#417;n.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-usdc-leads-by-39">USDC d&#7851;n &#273;&#7847;u v&#7899;i 39%</h2>

<p>Theo d&#7919; li&#7879;u t&#7915; Artemis Analytics, <a href="https://app.artemisanalytics.com/asset/usdc?from=assets&amp;category=KEY_METRICS&amp;metric=ARTEMIS_STABLECOIN_TRANSFER_VOLUME" target="_blank" rel="noreferrer noopener">USDC &#273;&atilde; x&#7917; l&yacute;</a> 18.3 ngh&igrave;n t&#7927; USD giao d&#7883;ch v&agrave;o n&#259;m 2025, so v&#7899;i <a href="https://app.artemisanalytics.com/asset/usdt?from=assets&amp;category=STABLECOINS&amp;metric=ARTEMIS_STABLECOIN_TRANSFER_VOLUME" target="_blank" rel="noreferrer noopener">USDT</a> v&#7899;i 13.2 ngh&igrave;n t&#7927; USD&mdash;kho&#7843;ng c&aacute;ch l&ecirc;n &#273;&#7871;n 39%.</p>
<p>Ch&#7881; s&#7889; Artemis Stablecoin Transfer Volume &#273;&atilde; lo&#7841;i b&#7887; c&aacute;c giao d&#7883;ch c&#7911;a bot MEV v&agrave; c&aacute;c giao d&#7883;ch chuy&#7875;n ti&#7873;n n&#7897;i b&#7897; gi&#7919;a c&aacute;c s&agrave;n, &#273;&#7875; t&#7853;p trung v&agrave;o ho&#7841;t &#273;&#7897;ng th&#7921;c s&#7921; tr&ecirc;n blockchain. Ch&#7881; s&#7889; n&agrave;y gi&uacute;p &#273;&aacute;nh gi&aacute; s&aacute;t th&#7921;c nh&#7845;t c&aacute;c h&igrave;nh th&#7913;c thanh to&aacute;n th&#7921;c ti&#7877;n v&agrave; ho&#7841;t &#273;&#7897;ng trong DeFi, thay v&igrave; s&#7889; l&#432;&#7907;ng giao d&#7883;ch b&#7883; th&#7893;i ph&#7891;ng b&#7903;i trading t&#7921; &#273;&#7897;ng. N&oacute;i c&aacute;ch kh&aacute;c, nh&#7919;ng giao d&#7883;ch chuy&#7875;n ti&#7873;n th&#7921;c, thanh to&aacute;n P2P hay t&#432;&#417;ng t&aacute;c DeFi &#273;&#7873;u &#273;&#432;&#7907;c t&iacute;nh; c&ograve;n giao d&#7883;ch bot t&#7921; &#273;&#7897;ng hay chuy&#7875;n n&#7897;i b&#7897; v&iacute; s&agrave;n th&igrave; kh&ocirc;ng.</p>
<img style="height:400px;width:640px;"decoding="async" src="https://assets.beincrypto.com/img/p8VD5WDDUXtvYHCDwoHWASqW_kc=/smart/7c1a1320264f4873a09d7b56088fea40" alt="" class="wp-image-790029">USDC &#273;&atilde; x&#7917; l&yacute; 18.3 ngh&igrave;n t&#7927; USD giao d&#7883;ch trong n&#259;m 2025, trong khi USDT ch&#7881; &#273;&#7841;t 13.2 ngh&igrave;n t&#7927; USD&mdash;t&#432;&#417;ng &#273;&#432;&#417;ng kho&#7843;ng c&aacute;ch 39%. Ngu&#7891;n: Artemis (Bi&ecirc;n t&#7853;p b&#7903;i BeInCrypto)

<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-why-usdc-pulled-ahead">L&yacute; do USDC v&#432;&#7907;t l&ecirc;n d&#7851;n &#273;&#7847;u</h2>

<p>C&oacute; b&#7889;n nguy&ecirc;n nh&acirc;n ch&iacute;nh t&#7841;o n&ecirc;n s&#7921; ch&ecirc;nh l&#7879;ch n&agrave;y: c&aacute;ch DeFi ho&#7841;t &#273;&#7897;ng, khu v&#7921;c blockchain di&#7877;n ra m&#7841;nh, m&#7897;t y&#7871;u t&#7889; b&#7845;t ng&#7901; xu&#7845;t hi&#7879;n, c&ugrave;ng th&#7901;i &#273;i&#7875;m si&#7871;t ch&#7863;t quy &#273;&#7883;nh ph&aacute;p l&yacute;.</p>
<h3 class="wp-block-heading" id="h-1-defi-turnover">1. Kh&#7889;i l&#432;&#7907;ng giao d&#7883;ch DeFi</h3>

<p>C&aacute;c chuy&ecirc;n gia cho r&#7857;ng s&#7921; kh&aacute;c bi&#7879;t ch&#7911; y&#7871;u &#273;&#7871;n t&#7915; c&aacute;ch m&#7895;i stablecoin &#273;&#432;&#7907;c s&#7917; d&#7909;ng. <a href="https://www.bloomberg.com/news/articles/2026-01-08/stablecoin-transactions-rose-to-record-33-trillion-led-by-usdc?embedded-checkout=true" target="_blank" rel="noreferrer noopener">USDC chi&#7871;m &#432;u th&#7871; tr&ecirc;n c&aacute;c n&#7873;n t&#7843;ng DeFi</a>, n&#417;i nh&agrave; &#273;&#7847;u t&#432; giao d&#7883;ch li&ecirc;n t&#7909;c v&agrave;o-ra th&#7883; tr&#432;&#7901;ng. C&ugrave;ng m&#7897;t &#273;&#7891;ng USD c&oacute; th&#7875; &#273;&#432;&#7907;c s&#7917; d&#7909;ng l&#7863;p l&#7841;i nhi&#7873;u l&#7847;n qua c&aacute;c giao th&#7913;c lending ho&#7863;c DEX swap. Trong khi &#273;&oacute;, USDT ch&#7911; y&#7871;u &#273;&oacute;ng vai tr&ograve; nh&#432; n&#417;i l&#432;u gi&#7919; gi&aacute; tr&#7883; v&agrave; thanh to&aacute;n&mdash;ng&#432;&#7901;i d&ugrave;ng th&#432;&#7901;ng gi&#7919; USDT trong v&iacute; l&acirc;u d&agrave;i h&#417;n thay v&igrave; li&ecirc;n t&#7909;c giao d&#7883;ch.</p>
<h3 class="wp-block-heading" id="h-2-the-solana-factor">2. Y&#7871;u t&#7889; Solana</h3>

<p><a href="https://www.helius.dev/blog/solanas-stablecoin-landscape" target="_blank" rel="noreferrer noopener">S&#7921; ph&aacute;t tri&#7875;n b&ugrave;ng n&#7893; c&#7911;a DeFi tr&ecirc;n Solana</a> &#273;&atilde; tr&#7903; th&agrave;nh &#273;&#7897;ng l&#7921;c l&#7899;n nh&#7845;t th&uacute;c &#273;&#7849;y USDC. Stablecoin n&agrave;y hi&#7879;n chi&#7871;m &#273;&#7871;n h&#417;n 70% t&#7893;ng s&#7889; stablecoin tr&ecirc;n m&#7841;ng Solana, c&ograve;n USDT l&#7841;i ch&#7911; y&#7871;u t&#7853;p trung &#7903; Tron. Ch&#7881; ri&ecirc;ng qu&yacute; 1/2025, t&#7893;ng l&#432;&#7907;ng stablecoin tr&ecirc;n Solana &#273;&atilde; t&#259;ng v&#7885;t t&#7915; 5.2 t&#7927; USD l&ecirc;n 11.7 t&#7927; USD&mdash;t&#7913;c t&#259;ng 125%, ch&#7911; y&#7871;u nh&#7901; d&ograve;ng v&#7889;n ch&#7843;y v&agrave;o USDC.</p>
<h3 class="wp-block-heading" id="h-3-the-trump-token-irony">3. S&#7921; tr&#7899; tr&ecirc;u c&#7911;a Trump token</h3>

<p>Vi&#7879;c ra m&#7855;t memecoin TRUMP v&agrave;o th&aacute;ng 01/2025 v&ocirc; t&igrave;nh &#273;&atilde; th&uacute;c &#273;&#7849;y m&#7841;nh m&#7869; l&agrave;n s&oacute;ng s&#7917; d&#7909;ng USDC. Pool thanh kho&#7843;n ch&iacute;nh c&#7911;a token n&agrave;y tr&ecirc;n Meteora DEX l&#7841;i &#273;&#432;&#7907;c gh&eacute;p v&#7899;i USDC thay v&igrave; USDT. &#272;i&#7873;u n&agrave;y bu&#7897;c c&aacute;c nh&agrave; &#273;&#7847;u t&#432; mu&#7889;n mua TRUMP &#273;&#7873;u ph&#7843;i c&oacute; USDC tr&#432;&#7899;c ti&ecirc;n, t&#7841;o n&ecirc;n l&agrave;n s&oacute;ng nhu c&#7847;u l&#7899;n, lan r&#7897;ng to&agrave;n h&#7879; sinh th&aacute;i DeFi c&#7911;a Solana.</p>
<p>&#272;i&#7873;u th&uacute; v&#7883; l&agrave;: gia &#273;&igrave;nh Trump &#273;&atilde; ph&aacute;t h&agrave;nh <a href="https://vn.beincrypto.com/world-liberty-financial-federal-charter-usd1-stablecoin/" target="_blank" rel="noreferrer noopener">stablecoin c&#7911;a ri&ecirc;ng m&igrave;nh &ndash; USD1</a>, th&ocirc;ng qua World Liberty Financial v&agrave;o th&aacute;ng 03. Nh&#432;ng ch&iacute;nh token TRUMP l&#7845;y c&#7843;m h&#7913;ng t&#7915; h&#7885; l&#7841;i v&ocirc; t&igrave;nh &#273;&#7849;y m&#7841;nh &#273;&#7889;i th&#7911; l&agrave; USDC.</p>
<h3 class="wp-block-heading" id="h-4-regulatory-tailwinds">4. Thu&#7853;n l&#7907;i t&#7915; ch&iacute;nh s&aacute;ch quy &#273;&#7883;nh</h3>

<p>S&#7921; ki&#7879;n lu&#7853;t <a href="https://vn.beincrypto.com/will-genius-act-ban-tether-usdt-stablecoin/" target="_blank" rel="noreferrer noopener">Genius Act t&#7841;i M&#7929; v&agrave;o th&aacute;ng 07</a> &#273;i v&agrave;o th&#7921;c ti&#7877;n &#273;&atilde; &#273;&#7863;t ra chu&#7849;n m&#7921;c ph&aacute;p l&yacute; r&otilde; r&agrave;ng d&agrave;nh cho c&aacute;c &#273;&#417;n v&#7883; ph&aacute;t h&agrave;nh stablecoin. Theo quan s&aacute;t, USDC v&#7889;n t&#7853;p trung v&agrave;o tu&acirc;n th&#7911; quy &#273;&#7883;nh v&agrave; minh b&#7841;ch t&agrave;i s&#7843;n d&#7921; tr&#7919; t&#7915; l&acirc;u, n&ecirc;n &#273;&atilde; t&#7853;n d&#7909;ng r&#7845;t t&#7889;t &#432;u th&#7871; n&agrave;y khi khung ph&aacute;p l&yacute; m&#7899;i xu&#7845;t hi&#7879;n. &#7902; Ch&acirc;u &Acirc;u, <a href="https://vn.beincrypto.com/stablecoin-circle-phat-trien-nho-mica/" target="_blank" rel="noreferrer noopener">s&#7921; tu&acirc;n th&#7911; chu&#7849;n MiCA c&#7911;a USDC</a> c&#361;ng gi&uacute;p stablecoin n&agrave;y v&#7919;ng v&agrave;ng, trong khi nhi&#7873;u s&agrave;n l&#7841;i d&#7847;n lo&#7841;i b&#7887; USDT.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-a-rising-tide">M&#7897;t l&agrave;n s&oacute;ng t&#259;ng tr&#432;&#7903;ng</h2>

<p>Vi&#7879;c USDC t&#259;ng tr&#432;&#7903;ng m&#7841;nh &#273;&atilde; g&oacute;p ph&#7847;n &#273;&#432;a t&#7893;ng ho&#7841;t &#273;&#7897;ng giao d&#7883;ch stablecoin l&ecirc;n m&#7913;c k&#7927; l&#7909;c. T&#7893;ng gi&aacute; tr&#7883; giao d&#7883;ch stablecoin trong n&#259;m 2025 &#273;&atilde; ch&#7841;m m&#7889;c 33 ngh&igrave;n t&#7927; USD, t&#259;ng 72% so v&#7899;i n&#259;m tr&#432;&#7899;c. Ri&ecirc;ng Qu&yacute; 4 &#273;&atilde; c&oacute; t&#7899;i 11 ngh&igrave;n t&#7927; USD giao d&#7883;ch, t&#259;ng t&#7889;c r&otilde; r&#7879;t so v&#7899;i 8.8 ngh&igrave;n t&#7927; USD &#7903; Qu&yacute; 3.</p>
<p>Bloomberg Intelligence d&#7921; &#273;o&aacute;n giao d&#7883;ch thanh to&aacute;n b&#7857;ng stablecoin c&oacute; th&#7875; &#273;&#7841;t 56 ngh&igrave;n t&#7927; USD v&agrave;o n&#259;m 2030, &#273;&#432;a l&#297;nh v&#7921;c n&agrave;y tr&#7903; th&agrave;nh ph&#432;&#417;ng ti&#7879;n thanh to&aacute;n to&agrave;n c&#7847;u l&#7899;n kh&ocirc;ng thua k&eacute;m c&aacute;c h&#7879; th&#7889;ng truy&#7873;n th&#7889;ng.</p>
