Amid the discussions about Bitcoin reaching $100,000, a larger shift is brewing—the technological competition within the stablecoin ecosystem.

Numbers speak loudly. The global stablecoin market has surpassed $284 billion, with millions of transactions transferred on-chain daily, yet the underlying technological approaches vary greatly. Some still suffer from high gas fees on Ethereum, costing tens of dollars, while others have already experienced a different ecosystem with zero fees and instant confirmation.

The root of this divergence lies in the architectural choices of different chains. Emerging chains that focus on high-performance Layer 1 are designed primarily to serve stablecoins and high-frequency trading. One such chain employs a Fluid architecture, which is considered innovative—essentially aggregating dispersed lending markets into a single liquidity pool, saving developers from the hassle of liquidity fragmentation. Recent data shows that the locked collateral in the lending market on this chain has reached $3.3 billion, making it the second-largest on-chain lending platform globally.

The experience of large transfers is indeed unbeatable, but small transactions can sometimes get stuck, revealing room for improvement in high concurrency optimization. Although the ecosystem is still young, its imagination is vast—stablecoins are no longer just simple payment tools but have become foundational infrastructure for financial applications, with various DeFi use cases rapidly evolving on these high-performance chains.