2025 年：加密貨幣市場具有里程碑意義的一年，比特幣和以太坊達到前所未有的水平

Steno Research 最近的一項分析預測，2025 年可能成為加密貨幣市場具有里程碑意義的一年

A recent analysis by Steno Research has forecasted 2025 could emerge as a landmark year for the cryptocurrency market, with Bitcoin and Ethereum projected to reach unprecedented levels.

Steno Research 最近的一項分析預測，2025 年可能成為加密貨幣市場具有里程碑意義的一年，比特幣和以太坊預計將達到前所未有的水平。

According to the research, Bitcoin’s value is anticipated to exceed $150,000, while Ethereum is expected to pass the $8,000 mark, accompanied by significant developments in the altcoin sector.

根據研究，隨著山寨幣領域的重大發展，比特幣的價值預計將超過 15 萬美元，而以太坊預計將突破 8,000 美元大關。

The enthusiasm surrounding these predictions is largely attributed to a conducive regulatory landscape for cryptocurrencies, favorable macroeconomic conditions characterized by low interest rates, increased liquidity, and historically strong post-Bitcoin-halving performances.

圍繞這些預測的熱情很大程度上歸因於對加密貨幣有利的監管環境、以低利率為特徵的有利宏觀經濟條件、流動性增加以及比特幣減半後歷史上強勁的表現。

Institutional adoption of cryptocurrencies is set to soar, supported by substantial investments in U.S.-based Bitcoin and Ethereum exchange-traded funds (ETFs). Steno anticipates net inflows of $48 billion for Bitcoin ETFs and $28.5 billion for Ethereum ETFs in 2025.

在美國比特幣和以太坊交易所交易基金（ETF）的大量投資的支持下，加密貨幣的機構採用率將飆升。 Steno 預計，到 2025 年，比特幣 ETF 的淨流入將達到 480 億美元，以太坊 ETF 的淨流入將達到 285 億美元。

Ethereum is likely to outshine Bitcoin in 2025, with the ETH/BTC ratio expected to reach approximately 0.06, nearly double the current level. This trend may mark the onset of an altcoin season, with Bitcoin’s market share dropping from nearly 57% to about 45%.

以太坊很可能在 2025 年超越比特幣，ETH/BTC 比率預計將達到 0.06 左右，幾乎是目前水準的兩倍。這一趨勢可能標誌著山寨幣季節的開始，比特幣的市佔率從近 57% 下降至約 45%。

Steno’s projections also consider geopolitical factors, predicting that Donald Trump’s presidency could create a more favorable environment for altcoin growth. This view posits that Trump’s administration will likely bolster on-chain activity, benefiting altcoins like Ethereum and Solana.

Steno 的預測也考慮了地緣政治因素，預測唐納德·川普的總統任期可能會為山寨幣的增長創造更有利的環境。這種觀點認為，川普政府可能會加強鏈上活動，使以太坊和 Solana 等山寨幣受益。

Grayscale, an asset management firm, shares this optimistic outlook. It has included various decentralized finance applications, particularly those on Solana, in its list of leading tokens for early 2025, citing improved U.S. policy conditions. The total value locked in decentralized applications is expected to exceed $300 billion in 2025, surpassing the highs of approximately $180 billion achieved in 2021.

資產管理公司 Grayscale 也持同樣樂觀的看法。它將各種去中心化金融應用程式（尤其是 Solana 上的應用程式）納入 2025 年初的領先代幣清單中，理由是美國政策條件有所改善。預計到 2025 年，去中心化應用程式鎖定的總價值將超過 3,000 億美元，超過 2021 年約 1,800 億美元的高點。

In summary, with anticipated advancements in regulation, macroeconomic trends, and institutional participation, 2025 is positioned as a potentially transformative year for the cryptocurrency sector.

總之，隨著監管、宏觀經濟趨勢和機構參與的預期進步，2025 年被定位為加密貨幣產業潛在變革的一年。