Is the stablecoin the same as the previously popular Bitcoin? Expert: The main differences between the two are reflected in the value anchoring mechanism, price volatility, application scenarios, etc.

Stablecoin is a type of digital currency that is anchored to real assets, and its value is usually pegged to a certain fiat currency, commodity, or other assets. Many investors are confused: "Since they are all cryptocurrencies, is stablecoin the same as the previously popular bitcoin?" The answer is no. According to Zeng Gang, the Director of the Shanghai Finance and Development Laboratory, the main differences between the two lie in the value anchoring mechanism, price volatility, and application scenarios. Firstly, they have different value anchoring mechanisms. Stablecoins are usually pegged to fiat currencies or other stable assets, with the value of one stablecoin being equivalent to one unit of the anchored asset, thereby maintaining price stability; whereas bitcoin is a "native cryptocurrency", its value depends entirely on market supply and demand, with no physical or fiat assets as support, resulting in high volatility. Secondly, there is a significant difference in price volatility. Stablecoins are designed to suppress fluctuations, making them suitable as a store of value and medium of exchange; while bitcoin aims to be a "decentralized digital gold", with prices being driven by market sentiment, macroeconomic factors, and news, leading to significant fluctuations. In addition, there are also differences in application scenarios. Stablecoins are commonly used for pricing digital asset transactions, fund settlements, cross-border transfers, and other scenarios; while bitcoin is seen as a long-term investment or store of value.