Coinbase 預測 2025 年將塑造加密貨幣產業的 5 個主要趨勢

該報告確定了成長和監管的五個關鍵領域：穩定幣、代幣化、加密貨幣交易所交易基金（ETF）、去中心化金融（DeFi）

Coinbase, a major U.S. cryptocurrency exchange, has released a detailed report outlining the key trends that it believes will shape the crypto industry in 2025.

美國主要加密貨幣交易所 Coinbase 發布了一份詳細報告，概述了其認為將在 2025 年塑造加密行業的主要趨勢。

The report identifies five critical areas for growth and regulation: stablecoins, tokenization, crypto exchange-traded funds (ETFs), decentralized finance (DeFi), and overarching crypto regulations.

該報告確定了成長和監管的五個關鍵領域：穩定幣、代幣化、加密貨幣交易所交易基金（ETF）、去中心化金融（DeFi）和整體加密貨幣監管。

Here's a closer look at each trend:

以下是對每種趨勢的詳細了解：

1. Growing Influence of Stablecoins and Tokenization

1. 穩定幣和通證化的影響力不斷增強

Stablecoins have achieved substantial growth this year, with their market cap surging over 50% from $130.5 billion in January to $204.5 billion by December, according to data from DefiLlama. These assets have facilitated more than $27 trillion in transactions this year alone, tripling last year’s volume.

DefiLlama 的數據顯示，穩定幣今年實現了大幅增長，其市值從 1 月的 1,305 億美元飆升至 12 月的 2,045 億美元，增幅超過 50%。光是今年，這些資產就促成了超過 27 兆美元的交易，是去年交易量的三倍。

Coinbase predicts that the primary uses of stablecoins will shift from trading to more global applications in capital flows and commerce. For instance, stablecoins could play a role in international trade settlements, remittances, and cross-border payments.

Coinbase 預測，穩定幣的主要用途將從交易轉向資本流動和商業領域的全球應用。例如，穩定幣可以在國際貿易結算、匯款和跨境支付中發揮作用。

Meanwhile, the tokenization of real-world assets (RWAs) has also grown significantly, increasing by over 60% to $13.5 billion. This rise is supported by the increasing use of RWAs as collateral across various sectors, including private credit and real estate, which are integrating into the crypto ecosystem.

同時，現實世界資產（RWA）的代幣化也顯著成長，成長了 60% 以上，達到 135 億美元。這種增長得益於越來越多地使用 RWA 作為各個領域的抵押品，包括私人信貸和房地產，這些領域正在融入加密貨幣生態系統。

2. Expansion of Crypto ETFs and a Resilient DeFi Ecosystem

2. 加密貨幣 ETF 的擴張和富有彈性的 DeFi 生態系統

Coinbase’s analysts are optimistic about the expansion of crypto ETFs, anticipating increased institutional interest and potential regulatory advancements that could make these products more attractive to investors.

Coinbase 的分析師對加密 ETF 的擴張持樂觀態度，預計機構興趣的增加和潛在的監管進步可能會使這些產品對投資者更具吸引力。

Particularly, the anticipation builds around more approvals for tokens such as XRP, Solana, and Litecoin. However, the analysts also note the potential impact of macroeconomic conditions and ETF fee structures on investor interest.

特別是，人們對 XRP、Solana 和 Litecoin 等代幣獲得更多批准的期望。然而，分析師也注意到宏觀經濟狀況和 ETF 費用結構對投資者興趣的潛在影響。

The DeFi sector is poised for a transformation with robust lending protocols and decentralized exchanges (DEXs) paving the way. New applications like Decentralized Physical Infrastructure Networks (DePIN) and prediction markets are expected to mature and expand throughout 2025, driven by a more resilient DeFi ecosystem.

憑藉強大的借貸協議和去中心化交易所 (DEX) 鋪平道路，DeFi 行業即將迎來轉型。在更具彈性的 DeFi 生態系統的推動下，去中心化實體基礎設施網路 (DePIN) 和預測市場等新應用預計將在 2025 年成熟並擴大。

3. Anticipated Regulatory Advances

3. 預期的監理進展

One of the most significant forecasts involves the regulatory landscape. Coinbase expects that 2025 could see the emergence of a pro-crypto administration, which would foster a favorable environment for crypto innovations and investments.

最重要的預測之一涉及監管環境。 Coinbase 預計，到 2025 年，可能會出現一個支持加密貨幣的政府，這將為加密貨幣創新和投資創造有利的環境。

The analysts predict the establishment of a comprehensive regulatory framework for cryptocurrencies, moving away from the current practice of regulation by enforcement. This framework would likely include clear definitions, licensing requirements, and consumer protection measures.

分析師預測，將為加密貨幣建立一個全面的監管框架，擺脫目前透過執法進行監管的做法。該框架可能包括明確的定義、許可要求和消費者保護措施。

Coinbase also anticipates the integration of crypto into the traditional financial system, with banks and other institutions offering crypto services to their clients. However, the report suggests that this process could be gradual due to the need for regulatory clarity and technological integration.

Coinbase 也預期加密貨幣將融入傳統金融系統，銀行和其他機構將向其客戶提供加密貨幣服務。然而，報告表明，由於監管清晰度和技術整合的需要，這個過程可能是漸進的。

4. Web3 Gaming and Metaverse Advancements

4. Web3 遊戲和元宇宙的進步

Coinbase predicts that Web3 gaming will continue to grow rapidly, driven by the increasing adoption of play-to-earn models and the integration of decentralized technologies.

Coinbase 預測，在「邊玩邊賺」模式的日益採用和去中心化技術整合的推動下，Web3 遊戲將繼續快速成長。

The report anticipates the emergence of more advanced and immersive metaverse experiences, supported by the convergence of Web3, XR (extended reality), and AI (artificial intelligence) technologies. These experiences could include virtual worlds, social interactions, and economic activities.

該報告預計，在 Web3、XR（擴展實境）和 AI（人工智慧）技術融合的支援下，將會出現更先進、更身臨其境的元宇宙體驗。這些體驗可能包括虛擬世界、社交互動和經濟活動。

5. Layer-2 Scaling Solutions and Multi-Chain Ecosystems

5. 二層擴容解決方案與多鏈生態系統

Coinbase highlights the growing importance of layer-2 scaling solutions for Ethereum and other blockchain networks. These solutions aim to increase transaction capacity and reduce fees, making blockchain technology more accessible and efficient for a wider range of applications.

Coinbase 強調了以太坊和其他區塊鏈網路的第 2 層擴展解決方案日益重要。這些解決方案旨在提高交易能力並降低費用，使區塊鏈技術對於更廣泛的應用更容易存取和更有效率。

The report anticipates the continued development and adoption of multi-chain ecosystems, where different blockchains specialize in specific functions or use cases. This interoperability between chains could facilitate the transfer of assets, data, and liquidity across various networks.

該報告預計多鏈生態系統將持續發展和採用，其中不同的區塊鏈專注於特定功能或用例。鏈之間的互通性可以促進資產、資料和流動性在不同網路之間的轉移。