2025 年加密貨幣將不僅僅是比特幣和以太坊

這是數位資產管理公司 Grayscale 最新季度高漲代幣總結的要點之一。

Grayscale has unveiled its latest quarterly roundup of high-upside tokens, presenting a diverse list of 20 digital assets poised to make waves in Q1 2025.

Grayscale 公佈了最新的高漲代幣季度綜述，列出了 20 種預計在 2025 年第一季掀起波瀾的數位資產。

Among the tokens, six are making their debut on the list: Ethena, Hyperliquid, Jupiter, Jito, Virtuals, and Grass. These additions are largely influenced by several key trends that are considered bullish for the crypto industry, according to Grayscale.

在這些代幣中，有六種首次上榜：Ethena、Hyperliquid、Jupiter、Jito、Virtuals 和 Grass。據 Grayscale 稱，這些新增內容在很大程度上受到被認為對加密貨幣行業有利的幾個關鍵趨勢的影響。

The digital currency asset management firm highlights the potential impact of Republicans’ success in the US election on decentralised finance and staking, as well as the growing use of artificial intelligence “agents” and the Solana blockchain.

這家數位貨幣資產管理公司強調了共和黨在美國大選中的成功對去中心化金融和質押以及人工智慧「代理」和 Solana 區塊鏈的日益使用的潛在影響。

To provide further context, Grayscale is one of the largest issuers of crypto exchange-traded funds, overseeing more than $24 billion in Bitcoin and Ether, the two leading cryptocurrencies.

為了提供更多背景信息，Grayscale 是最大的加密貨幣交易所交易基金發行人之一，管理著價值超過 240 億美元的比特幣和以太幣（這兩種領先的加密貨幣）。

In its analysis, Grayscale notes that some of the tokens included on the list stand to benefit significantly from the red sweep in the US election, which saw Republicans gain control of both chambers of Congress and the presidency.

Grayscale 在分析中指出，清單中包含的一些代幣將從美國大選中的紅色大掃除中受益匪淺，共和黨人獲得了國會兩院和總統職位的控制權。

According to industry observers, this outcome is expected to pave the way for more crypto-friendly regulations over the next four years.

據行業觀察人士稱，這一結果預計將為未來四年內更加有利於加密貨幣的監管鋪平道路。

Since the election, the entire crypto market has surged by over 40%, bringing its total value to nearly $3.4 trillion as of today.

自大選以來，整個加密貨幣市場飆升了 40% 以上，截至目前其總價值接近 3.4 兆美元。

Solana has emerged as one of the comeback winners from the bull market. Following the collapse of FTX, which had propped up Solana's value, the token experienced a steep decline.

Solana 已成為牛市中的捲土重來的贏家之一。隨著支撐 Solana 價值的 FTX 崩潰，該代幣經歷了急劇下跌。

After FTX's implosion in 2022, Solana's token plunged from its previous all-time high of $259 to less than $10.

2022 年 FTX 崩盤後，Solana 代幣從先前的歷史高點 259 美元暴跌至不到 10 美元。

However, a surge in new DeFi protocols and the popularity of memecoins and AI agents propelled it to a new all-time high in November, enabling it to surpass Tron as the blockchain with the second-largest DeFi ecosystem this year.

然而，新的 DeFi 協議的激增以及 memecoin 和 AI 代理的流行，推動其在 11 月創下歷史新高，使其超越 Tron 成為今年第二大 DeFi 生態系統的區塊鏈。

Two of Solana's largest DeFi protocols, Jupiter, an aggregator of decentralised exchanges, and Jito, a liquid staking protocol, are among the six new additions to Grayscale's list.

Solana 最大的兩個 DeFi 協定、去中心化交易所聚合器 Jupiter 和流動質押協定 Jito 是 Grayscale 清單中新增的六個協定之一。

Grayscale highlights Jupiter's potential to capitalise on Solana's role as a hub for AI agents and memecoin trading. Meanwhile, Jito ranks as one of the most profitable protocols in DeFi, having collected over $500 million in fees in 2024.

Grayscale 強調了 Jupiter 有潛力利用 Solana 作為人工智慧代理商和 memecoin 交易中心的作用。同時，Jito 被列為 DeFi 領域最賺錢的協議之一，2024 年收取的費用超過 5 億美元。

The intersection of AI and crypto has generated significant attention in 2024, and for good measure. Investors have poured hundreds of millions into crypto-AI projects, while researchers estimate that the combination will add another $20 trillion to the global economy by 2030.

人工智慧和加密貨幣的交叉點在 2024 年引起了廣泛關注。投資者已向加密人工智慧計畫投入數億美元，而研究人員估計，到 2030 年，這項組合將為全球經濟再增加 20 兆美元。

Grayscale's list reflects this buzz, with two of the new tokens operating at the juncture of AI and crypto: Virtuals, which simplifies the creation of AI agents on the Base blockchain, and Grass, which enables users to rent their unused internet bandwidth to AI companies that require it to scrape the web for data to train AI models.

Grayscale 的清單反映了這種熱潮，其中兩個新代幣在人工智慧和加密貨幣的結合點上運行：Virtuals，它簡化了Base 區塊鏈上人工智慧代理的創建，以及Grass，它使用戶能夠將未使用的互聯網頻寬出租給人工智慧公司這需要它從網路上抓取資料來訓練人工智慧模型。

In addition, Grayscale has included a pair of protocols that have ascended to the forefront of DeFi: stablecoin issuer Ethena and Hyperliquid, a blockchain focused on trading.

此外，Grayscale 還包括了兩個已躋身 DeFi 最前沿的協議：穩定幣發行者 Ethena 和專注於交易的區塊鏈 Hyperliquid。

Hyperliquid's airdrop in November created dozens of new crypto millionaires and sparked speculation about a DeFi resurgence.

Hyperliquid 在 11 月的空投創造了數十位新的加密貨幣百萬富翁，並引發了有關 DeFi 復興的猜測。

Ethena, on the other hand, launched earlier this year and its stablecoin, USDe, has already surpassed Sky's DAI to become the third-largest, according to data from DefiLlama.

另一方面，根據 DefiLlama 的數據，今年稍早推出的 Ethena 穩定幣 USDe 已經超過 Sky 的 DAI，成為第三大穩定幣。

Grayscale also noted the removal of six tokens from its top 20 list: TON, Near, Stacks, Sky, UMA Protocol, and Celo.

Grayscale 也指出，從其前 20 名清單中刪除了 6 個代幣：TON、Near、Stacks、Sky、UMA Protocol 和 Celo。

"Grayscale Research continues to see value in each of these projects," the firm stated. "However, we believe the revised Top 20 list may offer more compelling risk-adjusted returns for the coming quarter."

該公司表示：“灰度研究繼續看到這些項目的價值。” “然而，我們相信，修訂後的前 20 名名單可能會為下一季提供更引人注目的風險調整回報。”

Aleks Gilbert, based in New York City, is DL News' DeFi Correspondent. Tips can be sent to aleks@dlnews.com.

Aleks Gilbert 駐紐約，是 DL News 的 DeFi 記者。提示可以發送至 aleks@dlnews.com。