灰度發布了Q2 2025的前20個加密項目的更新列表，介紹楓（糖漿），Geodnet（Geod）和故事協議（IP）

Grayscale是世界上最大的加密資產管理公司，已發布其最新的2025年第二季度潛在加密項目列表。

Crypto asset management company Grayscale has updated its list of the Top 20 crypto projects for Q2 2025. The latest list brings in three new contenders—Maple (SYRUP), Geodnet (GEOD), and Story Protocol (IP)—while dropping Akash, Arweave, and Jupiter from its ranks.

加密資產管理公司Grayscale已更新了其第2季度2025年前20個加密貨幣項目的列表。最新的列錶帶來了三個新的競爭者-Amaple（Syrup），Geodnet（Geodnet）（Geod）和故事協議（IP）（IP） - 將Akash，Arweave和Jupiter從其排名中獲得。

As the crypto market navigates turbulent times, Grayscale is making interesting bets on emerging trends that could rewrite the industry's narrative.

隨著加密貨幣市場在動蕩的時期導航，格雷斯卡（Grayscale）正在對新興趨勢進行有趣的賭注，這些趨勢可以改寫該行業的敘述。

The first quarter of 2025 saw a downturn in the cryptocurrency market, mirroring the decline observed in tech stocks and other high-risk assets, according to Grayscale Research. Despite this, Web3 applications in DeFi, AI, and infrastructure sectors collectively generated over $2 billion in revenue.

根據Grayscale Research的數據，2025年第一季度的加密貨幣市場下降，反映了技術股票和其他高風險資產的下降。儘管如此，DEFI，AI和基礎設施領域的Web3應用程序統稱超過20億美元的收入。

One highlight from the report is the promise of Sui (SUI) as a smart contract platform. It provides rapid transactions with minimal fees without needing extra scaling layers like Ethereum. However, at present, Sui comprises only 3% of Grayscale’s Smart Contract Platforms index.

該報告中的一個亮點是SUI（SUI）作為智能合約平台的承諾。它提供了快速交易的費用最低，而無需以太坊（例如以太坊）額外的縮放層。但是，目前，SUI僅佔Grayscale智能合同平台指數的3％。

For Q2 2025, Grayscale is setting its sights on three key areas: Decentralized Physical Infrastructure (DePIN), Real World Assets (RWA), and Intellectual Property Tokenization (IP). Some new projects are stepping into the spotlight.

對於第二季度2025年，格雷斯卡（Grayscale）將目光投向了三個關鍵領域：分散的物理基礎設施（DEPIN），現實世界資產（RWA）和知識產權令牌（IP）。一些新項目正引起人們的關注。

Among the new additions to Grayscale’s watchlist are:

在灰度列表清單的新添加中，有：

Maple (SYRUP): A lending platform catering to institutional clients with over $600 million in total value locked (TVL). It has generated $20 million in fees over the past month and is aiming for $2 billion in TVL by 2025.

楓（糖漿）：一個貸款平台，可滿足超過6億美元總價值鎖定（TVL）的機構客戶的需求。它在過去一個月中已經產生了2000萬美元的費用，到2025年的目標是20億美元。

Geodnet (GEOD): A decentralized infrastructure project providing real-time, highly accurate positioning data. It now operates in 130+ countries with over 14,000 devices and has crossed $3 million in monthly fee revenue.

Geodnet（Geod）：一個分散的基礎架構項目，可提供實時，高度準確的定位數據。現在，它在130多個國家 /地區擁有14,000多個設備，已經超過300萬美元的月收費收入。

Story Protocol (IP): Focused on tokenizing the $70 trillion intellectual property market, this project is making headlines by bringing top artists, including Justin Bieber and BTS, to the blockchain.

故事協議（IP）：專注於使$ 70萬億美元的知識產權市場的實現，該項目通過將包括賈斯汀·比伯（Justin Bieber）和BTS在內的頂級藝術家帶到區塊鏈中，成為頭條新聞。

However, Grayscale cautions that these assets remain highly volatile and risky. GEOD, in particular, lacks major exchange listings, making it an even riskier investment.

但是，格雷斯卡（Grayscale）警告說，這些資產仍然高度波動和風險。尤其是地球上沒有主要的交換清單，使其成為更風險的投資。

Three assets—Arweave (AR), Akash (AKT), and Jupiter (JUP)—have been removed from Grayscale’s Top 20 list due to their performance. Despite this, the firm will continue monitoring their potential.

三個資產（AR），Akash（AKT）和木星（JUP） - 由於其性能，已從Grayscale的前20名列表中刪除。儘管如此，該公司仍將繼續監視其潛力。

Moreover, Grayscale observed a decline in overall market capitalization and a weakening of the Consumer & Culture sector, driven by the decline of memecoins and Solana’s ecosystem.

此外，格雷斯卡爾（Grayscale）觀察到總體市值下降，消費者和文化部門的削弱，這是由於成員和索拉納（Solana）的生態系統的下降而驅動的。