{"id":64281,"date":"2026-04-17T14:24:22","date_gmt":"2026-04-17T14:24:22","guid":{"rendered":"https:\/\/thecryptocurrencypost.net\/es\/?p=64281"},"modified":"2026-04-17T14:24:23","modified_gmt":"2026-04-17T14:24:23","slug":"yield-bearing-stablecoins-estan-desplazando-a-las-stablecoins-tradicionales","status":"publish","type":"post","link":"https:\/\/thecryptocurrencypost.net\/es\/yield-bearing-stablecoins-estan-desplazando-a-las-stablecoins-tradicionales\/","title":{"rendered":"Yield-bearing stablecoins \u00bfEst\u00e1n desplazando a las stablecoins tradicionales?"},"content":{"rendered":"<p data-path-to-node=\"2\">El mercado de activos digitales en 2026 atraviesa una transformaci\u00f3n donde las <b data-path-to-node=\"2\" data-index-in-node=\"79\">yield-bearing stablecoins<\/b> desaf\u00edan la hegemon\u00eda de los emisores centralizados tradicionales. Esta transici\u00f3n hacia instrumentos que distribuyen rendimientos representa un cambio estructural en la eficiencia del capital institucional.<!--more--><\/p>\n<p data-path-to-node=\"2\">La tesis central sostiene que<strong> la pasividad de stablecoins como USDT o USDC<\/strong> resulta obsoleta frente a protocolos que integran el retorno de activos del mundo real. Mientras que en 2022 el capital aceptaba el coste de oportunidad por seguridad, <b data-path-to-node=\"2\" data-index-in-node=\"556\">el entorno t\u00e9cnico actual prioriza la rentabilidad directa<\/b> sobre la simple custodia est\u00e1tica de valor.<\/p>\n<p data-path-to-node=\"3\">La adopci\u00f3n de estos nuevos activos no es un evento aislado sino una respuesta a la madurez de la infraestructura. Al analizar <strong><a class=\"ng-star-inserted\" href=\"https:\/\/thecryptocurrencypost.net\/es\/que-son-stablecoins-con-rendimiento\/\" target=\"_blank\" rel=\"noopener\" data-hveid=\"0\" data-ved=\"0CAAQ_4QMahgKEwiPhO-08vSTAxUAAAAAHQAAAAAQ2wE\">qu\u00e9 son stablecoins con rendimiento<\/a> <\/strong>observamos una migraci\u00f3n de liquidez impulsada por la transparencia on-chain.<\/p>\n<p data-path-to-node=\"3\">En el primer trimestre de 2026, <strong>la capitalizaci\u00f3n de versiones con rendimiento creci\u00f3 un 22% anual<\/strong>, superando el crecimiento del 4% registrado por las opciones sin retorno. Esta divergencia sugiere que el mercado institucional ya no percibe a las stablecoins solo como una rampa de salida, sino como <b data-path-to-node=\"3\" data-index-in-node=\"541\">veh\u00edculos de inversi\u00f3n con liquidez inmediata y bajo riesgo<\/b>.<\/p>\n<h2 data-path-to-node=\"4\">Eficiencia de capital y el fin de la custodia pasiva<\/h2>\n<p data-path-to-node=\"5\">El factor determinante en esta competencia es la capacidad de monetizar el colateral sin a\u00f1adir capas de riesgo excesivas. Los protocolos modernos utilizan estrategias de delta neutral o exposici\u00f3n a bonos del Tesoro de EE. UU. para generar flujos constantes. Seg\u00fan el<strong> <a class=\"ng-star-inserted\" href=\"https:\/\/docs.ethena.fi\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-hveid=\"0\" data-ved=\"0CAAQ_4QMahgKEwiPhO-08vSTAxUAAAAAHQAAAAAQ3AE\">whitepaper de Ethena<\/a><\/strong>, la arquitectura de activos sint\u00e9ticos permite capturar tasas de financiaci\u00f3n positivas en mercados de derivados. Esta <b data-path-to-node=\"5\" data-index-in-node=\"409\">capacidad de generar rendimientos superiores al 5% anual<\/b> desplaza a los activos que retienen los beneficios para el emisor centralizado, alterando la din\u00e1mica de acumulaci\u00f3n de valor.<\/p>\n<p data-path-to-node=\"6\">A diferencia del ciclo de 2021, donde los rendimientos proven\u00edan de emisiones inflacionarias de tokens de gobernanza, el escenario actual se apoya en ingresos genuinos. El concepto de <strong><a class=\"ng-star-inserted\" href=\"https:\/\/thecryptocurrencypost.net\/es\/la-trampa-del-interes-nominal-el-real-yield-como-unico-refugio-financiero-en-2026\/\" target=\"_blank\" rel=\"noopener\" data-hveid=\"0\" data-ved=\"0CAAQ_4QMahgKEwiPhO-08vSTAxUAAAAAHQAAAAAQ3QE\">la trampa del inter\u00e9s nominal<\/a><\/strong> explica por qu\u00e9 el capital migra hacia donde el rendimiento real es verificable. Los datos de<strong> <a class=\"ng-star-inserted\" href=\"https:\/\/ondo.finance\/usdy\" target=\"_blank\" rel=\"noopener noreferrer\" data-hveid=\"0\" data-ved=\"0CAAQ_4QMahgKEwiPhO-08vSTAxUAAAAAHQAAAAAQ3gE\">Ondo Finance<\/a> <\/strong>muestran que el 85% de sus tenedores son entidades que buscan <b data-path-to-node=\"6\" data-index-in-node=\"383\">exposici\u00f3n directa a tipos de inter\u00e9s gubernamentales<\/b> mediante tokens programables. Esta integraci\u00f3n de activos financieros convencionales en una <b data-path-to-node=\"6\" data-index-in-node=\"529\">blockchain<\/b> permite una liquidaci\u00f3n 24\/7 que los bancos tradicionales no pueden replicar actualmente.<\/p>\n<h2 data-path-to-node=\"7\">El riesgo de liquidez frente al retorno garantizado<\/h2>\n<p data-path-to-node=\"8\">El contrapunto necesario a esta tendencia es la gesti\u00f3n del riesgo de contratos inteligentes y la profundidad del mercado secundario. Cr\u00edticos y analistas de cumplimiento en firmas como Circle argumentan que las stablecoins tradicionales ofrecen una estabilidad de paridad superior durante eventos de alta volatilidad. Bajo condiciones de estr\u00e9s extremo, <b data-path-to-node=\"8\" data-index-in-node=\"355\">la liquidez inmediata de las stablecoins centralizadas tradicionales<\/b> sigue siendo el refugio preferido por los creadores de mercado. Existe una validez parcial en este argumento, ya que los mecanismos de desacu\u00f1aci\u00f3n de activos con rendimiento a veces enfrentan colas de espera de varios d\u00edas.<\/p>\n<p data-path-to-node=\"9\">Sin embargo, la arquitectura de ahorro se ha refinado significativamente desde el colapso de protocolos algor\u00edtmicos previos. La implementaci\u00f3n de la <strong>Sky Savings Rate<\/strong> por parte del ecosistema Sky demuestra un modelo de sostenibilidad donde el inter\u00e9s se paga mediante excedentes del protocolo. Este enfoque mitiga el riesgo sist\u00e9mico al no depender de la demanda externa de un token vol\u00e1til. Para que la tesis de desplazamiento sea invalidada, deber\u00eda ocurrir un <b data-path-to-node=\"9\" data-index-in-node=\"463\">exploit t\u00e9cnico masivo en los contratos de colateralizaci\u00f3n<\/b> que devuelva la confianza total a los modelos cerrados y no distributivos de los a\u00f1os anteriores.<\/p>\n<p data-path-to-node=\"10\">Si la cuota de mercado de las <b data-path-to-node=\"10\" data-index-in-node=\"30\">yield-bearing stablecoins<\/b> alcanza el 35% del suministro total de d\u00f3lares digitales antes de finalizar 2026, la presi\u00f3n competitiva forzar\u00e1 a los emisores tradicionales a compartir parte de sus ingresos financieros con los usuarios finales para evitar una fuga total de liquidez hacia protocolos descentralizados.<\/p>\n<p data-path-to-node=\"11\">Este art\u00edculo es informativo y no constituye asesoramiento financiero.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>El mercado de activos digitales en 2026 atraviesa una transformaci\u00f3n donde las yield-bearing stablecoins desaf\u00edan la hegemon\u00eda de los emisores centralizados tradicionales. Esta transici\u00f3n hacia instrumentos que distribuyen rendimientos representa un cambio estructural en la eficiencia del capital institucional.<\/p>\n","protected":false},"author":39,"featured_media":64282,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33,2036],"tags":[2048],"class_list":["post-64281","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-editors-picks","category-opinion","tag-yield-bearing-stablecoins"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Yield-bearing stablecoins \u00bfEst\u00e1n desplazando a las stablecoins tradicionales? The CryptoCurrency Post ESP<\/title>\n<meta name=\"description\" content=\"El mercado de activos digitales en 2026 atraviesa una transformaci\u00f3n donde las yield-bearing stablecoins desaf\u00edan la hegemon\u00eda de los emisores centralizados.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thecryptocurrencypost.net\/es\/yield-bearing-stablecoins-estan-desplazando-a-las-stablecoins-tradicionales\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yield-bearing stablecoins \u00bfEst\u00e1n desplazando a las stablecoins tradicionales? The CryptoCurrency Post ESP\" \/>\n<meta property=\"og:description\" content=\"El mercado de activos digitales en 2026 atraviesa una transformaci\u00f3n donde las yield-bearing stablecoins desaf\u00edan la hegemon\u00eda de los emisores centralizados.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thecryptocurrencypost.net\/es\/yield-bearing-stablecoins-estan-desplazando-a-las-stablecoins-tradicionales\/\" \/>\n<meta property=\"og:site_name\" content=\"The CryptoCurrency Post ESP\" \/>\n<meta property=\"article:published_time\" content=\"2026-04-17T14:24:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-17T14:24:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/thecryptocurrencypost.net\/es\/wp-content\/uploads\/sites\/2\/2026\/04\/Yield-bearing-stablecoins.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Luis Malav\u00e9\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Escrito por\" \/>\n\t<meta name=\"twitter:data1\" content=\"Luis Malav\u00e9\" \/>\n\t<meta name=\"twitter:label2\" content=\"Tiempo de lectura\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutos\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Yield-bearing stablecoins \u00bfEst\u00e1n desplazando a las stablecoins tradicionales? The CryptoCurrency Post ESP","description":"El mercado de activos digitales en 2026 atraviesa una transformaci\u00f3n donde las yield-bearing stablecoins desaf\u00edan la hegemon\u00eda de los emisores centralizados.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/thecryptocurrencypost.net\/es\/yield-bearing-stablecoins-estan-desplazando-a-las-stablecoins-tradicionales\/","og_locale":"es_ES","og_type":"article","og_title":"Yield-bearing stablecoins \u00bfEst\u00e1n desplazando a las stablecoins tradicionales? The CryptoCurrency Post ESP","og_description":"El mercado de activos digitales en 2026 atraviesa una transformaci\u00f3n donde las yield-bearing stablecoins desaf\u00edan la hegemon\u00eda de los emisores centralizados.","og_url":"https:\/\/thecryptocurrencypost.net\/es\/yield-bearing-stablecoins-estan-desplazando-a-las-stablecoins-tradicionales\/","og_site_name":"The CryptoCurrency Post ESP","article_published_time":"2026-04-17T14:24:22+00:00","article_modified_time":"2026-04-17T14:24:23+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/thecryptocurrencypost.net\/es\/wp-content\/uploads\/sites\/2\/2026\/04\/Yield-bearing-stablecoins.jpg","type":"image\/jpeg"}],"author":"Luis Malav\u00e9","twitter_card":"summary_large_image","twitter_misc":{"Escrito por":"Luis Malav\u00e9","Tiempo de lectura":"4 minutos"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/thecryptocurrencypost.net\/es\/yield-bearing-stablecoins-estan-desplazando-a-las-stablecoins-tradicionales\/#article","isPartOf":{"@id":"https:\/\/thecryptocurrencypost.net\/es\/yield-bearing-stablecoins-estan-desplazando-a-las-stablecoins-tradicionales\/"},"author":{"name":"Luis Malav\u00e9","@id":"https:\/\/thecryptocurrencypost.net\/es\/#\/schema\/person\/c5fc91739cfd8eff3bc199ff01503b3e"},"headline":"Yield-bearing stablecoins \u00bfEst\u00e1n desplazando a las stablecoins tradicionales?","datePublished":"2026-04-17T14:24:22+00:00","dateModified":"2026-04-17T14:24:23+00:00","mainEntityOfPage":{"@id":"https:\/\/thecryptocurrencypost.net\/es\/yield-bearing-stablecoins-estan-desplazando-a-las-stablecoins-tradicionales\/"},"wordCount":676,"publisher":{"@id":"https:\/\/thecryptocurrencypost.net\/es\/#organization"},"image":{"@id":"https:\/\/thecryptocurrencypost.net\/es\/yield-bearing-stablecoins-estan-desplazando-a-las-stablecoins-tradicionales\/#primaryimage"},"thumbnailUrl":"https:\/\/thecryptocurrencypost.net\/es\/wp-content\/uploads\/sites\/2\/2026\/04\/Yield-bearing-stablecoins.jpg","keywords":["Yield-Bearing Stablecoins"],"articleSection":["Editor's Picks","Opini\u00f3n"],"inLanguage":"es"},{"@type":"WebPage","@id":"https:\/\/thecryptocurrencypost.net\/es\/yield-bearing-stablecoins-estan-desplazando-a-las-stablecoins-tradicionales\/","url":"https:\/\/thecryptocurrencypost.net\/es\/yield-bearing-stablecoins-estan-desplazando-a-las-stablecoins-tradicionales\/","name":"Yield-bearing stablecoins \u00bfEst\u00e1n desplazando a las stablecoins tradicionales? The CryptoCurrency Post ESP","isPartOf":{"@id":"https:\/\/thecryptocurrencypost.net\/es\/#website"},"primaryImageOfPage":{"@id":"https:\/\/thecryptocurrencypost.net\/es\/yield-bearing-stablecoins-estan-desplazando-a-las-stablecoins-tradicionales\/#primaryimage"},"image":{"@id":"https:\/\/thecryptocurrencypost.net\/es\/yield-bearing-stablecoins-estan-desplazando-a-las-stablecoins-tradicionales\/#primaryimage"},"thumbnailUrl":"https:\/\/thecryptocurrencypost.net\/es\/wp-content\/uploads\/sites\/2\/2026\/04\/Yield-bearing-stablecoins.jpg","datePublished":"2026-04-17T14:24:22+00:00","dateModified":"2026-04-17T14:24:23+00:00","description":"El mercado de activos digitales en 2026 atraviesa una transformaci\u00f3n donde las yield-bearing stablecoins desaf\u00edan la hegemon\u00eda de los emisores centralizados.","breadcrumb":{"@id":"https:\/\/thecryptocurrencypost.net\/es\/yield-bearing-stablecoins-estan-desplazando-a-las-stablecoins-tradicionales\/#breadcrumb"},"inLanguage":"es","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thecryptocurrencypost.net\/es\/yield-bearing-stablecoins-estan-desplazando-a-las-stablecoins-tradicionales\/"]}]},{"@type":"ImageObject","inLanguage":"es","@id":"https:\/\/thecryptocurrencypost.net\/es\/yield-bearing-stablecoins-estan-desplazando-a-las-stablecoins-tradicionales\/#primaryimage","url":"https:\/\/thecryptocurrencypost.net\/es\/wp-content\/uploads\/sites\/2\/2026\/04\/Yield-bearing-stablecoins.jpg","contentUrl":"https:\/\/thecryptocurrencypost.net\/es\/wp-content\/uploads\/sites\/2\/2026\/04\/Yield-bearing-stablecoins.jpg","width":1280,"height":720,"caption":"Yield-bearing stablecoins"},{"@type":"BreadcrumbList","@id":"https:\/\/thecryptocurrencypost.net\/es\/yield-bearing-stablecoins-estan-desplazando-a-las-stablecoins-tradicionales\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Noticias Criptomonedas","item":"https:\/\/thecryptocurrencypost.net\/es\/"},{"@type":"ListItem","position":2,"name":"Yield-bearing stablecoins \u00bfEst\u00e1n desplazando a las stablecoins tradicionales?"}]},{"@type":"WebSite","@id":"https:\/\/thecryptocurrencypost.net\/es\/#website","url":"https:\/\/thecryptocurrencypost.net\/es\/","name":"The CryptoCurrency Post ESP","description":"Crypto News","publisher":{"@id":"https:\/\/thecryptocurrencypost.net\/es\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/thecryptocurrencypost.net\/es\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"es"},{"@type":"Organization","@id":"https:\/\/thecryptocurrencypost.net\/es\/#organization","name":"The CryptoCurrency Post ESP","url":"https:\/\/thecryptocurrencypost.net\/es\/","logo":{"@type":"ImageObject","inLanguage":"es","@id":"https:\/\/thecryptocurrencypost.net\/es\/#\/schema\/logo\/image\/","url":"https:\/\/thecryptocurrencypost.net\/es\/wp-content\/uploads\/sites\/2\/2026\/05\/TCP-favicon-dev.png","contentUrl":"https:\/\/thecryptocurrencypost.net\/es\/wp-content\/uploads\/sites\/2\/2026\/05\/TCP-favicon-dev.png","width":280,"height":280,"caption":"The CryptoCurrency Post ESP"},"image":{"@id":"https:\/\/thecryptocurrencypost.net\/es\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/thecryptocurrencypost.net\/es\/#\/schema\/person\/c5fc91739cfd8eff3bc199ff01503b3e","name":"Luis Malav\u00e9","image":{"@type":"ImageObject","inLanguage":"es","@id":"https:\/\/secure.gravatar.com\/avatar\/dec9b303876be377063b0bf6c530fab8ac47c59efc93bc9751a3f42672f824a2?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/dec9b303876be377063b0bf6c530fab8ac47c59efc93bc9751a3f42672f824a2?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/dec9b303876be377063b0bf6c530fab8ac47c59efc93bc9751a3f42672f824a2?s=96&d=mm&r=g","caption":"Luis Malav\u00e9"},"description":"Luis Malav\u00e9 holds a degree in Social Communication and has 15 years of experience in digital media and news content production. He specializes in SEO applied to journalism and financial market coverage, combining clear analysis with search engine optimization to maximize the reach and visibility of his publications. His work focuses on transforming complex economic and financial information into accessible, accurate content geared toward both specialized audiences and readers seeking to understand market dynamics.","sameAs":["https:\/\/www.linkedin.com\/in\/luis-eduardo-malave-782150105\/"],"url":"https:\/\/thecryptocurrencypost.net\/es\/author\/luis\/"}]}},"_links":{"self":[{"href":"https:\/\/thecryptocurrencypost.net\/es\/wp-json\/wp\/v2\/posts\/64281","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thecryptocurrencypost.net\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thecryptocurrencypost.net\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thecryptocurrencypost.net\/es\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/thecryptocurrencypost.net\/es\/wp-json\/wp\/v2\/comments?post=64281"}],"version-history":[{"count":1,"href":"https:\/\/thecryptocurrencypost.net\/es\/wp-json\/wp\/v2\/posts\/64281\/revisions"}],"predecessor-version":[{"id":64283,"href":"https:\/\/thecryptocurrencypost.net\/es\/wp-json\/wp\/v2\/posts\/64281\/revisions\/64283"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thecryptocurrencypost.net\/es\/wp-json\/wp\/v2\/media\/64282"}],"wp:attachment":[{"href":"https:\/\/thecryptocurrencypost.net\/es\/wp-json\/wp\/v2\/media?parent=64281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thecryptocurrencypost.net\/es\/wp-json\/wp\/v2\/categories?post=64281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thecryptocurrencypost.net\/es\/wp-json\/wp\/v2\/tags?post=64281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}