加密货币市场迎来 2025 年充满活力的开端，关键事件将重塑市场情绪和交易量

从美联储的宏观经济决策到协议更新和法律程序，以下是需要投资者密切关注的关键事态发展

Crypto markets are poised for a dynamic start to the new year, with a series of pivotal events set to reshape sentiment and trading volumes. From macroeconomic decisions by the Federal Reserve to protocol updates and legal proceedings, here are the key developments demanding close attention from investors:

加密货币市场即将迎来新的一年的充满活力的开端，一系列关键事件将重塑市场情绪和交易量。从美联储的宏观经济决策到协议更新和法律程序，以下是需要投资者密切关注的关键进展：

#1 Crypto Awaits The FOMC Minutes Release (January 8)

#1 加密货币等待 FOMC 会议纪要发布（1 月 8 日）

On Wednesday, the minutes from December’s Federal Open Market Committee (FOMC) meeting are scheduled for release, offering insights into policymakers’ deliberations and possible hints at upcoming rate decisions. The minutes will shed light on the Federal Reserve’s latest approach to controlling inflation while supporting economic stability.

周三，联邦公开市场委员会 (FOMC) 12 月会议纪要将于周三公布，其中将提供有关政策制定者审议情况的见解以及对即将做出的利率决定的可能暗示。会议纪要将揭示美联储在支持经济稳定的同时控制通胀的最新方法。

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Crypto Trader Nets $17 Million From AI Coins: Here’s What He’s Buying Now

加密货币交易者从 AI 硬币中净赚 1700 万美元：这就是他现在购买的东西

The Fed cut US interest rates three consecutive times after a heated debate in late 2024, though it reduced its forecast for total annual rate cuts this year from four down to two. Investors also recall Fed Chair Jerome Powell’s statement that “the decision to cut rates was a close call.” This underscores the importance of the forthcoming minutes for anyone looking to gauge how hawkish or dovish the central bank may become throughout 2025.

经过2024年底的激烈争论，美联储连续三次降息，但将今年的年度降息总量预期从四次下调至两次。投资者还记得美联储主席杰罗姆·鲍威尔的声明，即“降息决定是千钧一发”。这凸显了即将发布的会议纪要对于任何想要衡量央行在 2025 年可能变得鹰派或鸽派程度的人的重要性。

#2 THORChain’s Base Integration

#2 THORChain 的基础集成

Cross-chain liquidity platform THORChain has confirmed it will begin supporting Base—currently the largest Layer 2 by volume—next week. According to THORChain’s development updates, this integration enables more efficient ETH-BTC swaps by circumventing Ethereum’s mainnet congestion and unlocking new liquidity avenues through cbBTC. Market observers anticipate a notable uptick in trading volume as the community takes advantage of cheaper ETH-BTC swaps and expanded cross-chain capabilities.

跨链流动性平台 THORChain 已确认将于下周开始支持 Base——目前交易量最大的 Layer 2。根据 THORChain 的开发更新，这种集成通过规避以太坊主网拥堵并通过 cbBTC 释放新的流动性途径，实现更高效的 ETH-BTC 交换。市场观察人士预计，随着社区利用更便宜的 ETH-BTC 互换和扩展的跨链功能，交易量将显着增加。

#3 Jupiter’s Airdrop Checker

#3 Jupiter 的空投检查器

Jupiter, a leading Solana-based decentralized exchange (DEX) aggregator is expected to release its airdrop eligibility checker this week. This event is part of “Jupuary,” a multi-year airdrop initiative slated for January 2025 and 2026, during which the protocol will distribute a total of $700 million worth of JUP tokens to its user base.

Jupiter 是一家基于 Solana 的领先去中心化交易所 (DEX) 聚合商，预计将于本周发布其空投资格检查器。此次活动是“Jupuary”的一部分，“Jupuary”是一项定于 2025 年 1 月和 2026 年进行的多年空投计划，在此期间，该协议将向其用户群分发价值总计 7 亿美元的 JUP 代币。

The project has declared that this airdrop aims to “grow the pie,” broadening the Jupiter community and boosting participation in one of the world’s most significant decentralized autonomous organizations. Additionally, Jupiter’s Castanbul conference in late January will feature the live burning of 30% of the token’s supply.

该项目宣称，此次空投的目的是“把蛋糕做大”，扩大 Jupiter 社区并促进对世界上最重要的去中心化自治组织之一的参与。此外，1 月底的 Jupiter Castanbul 会议将现场销毁 30% 的代币供应量。

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#4 USUAL Fee Switch Activation (January 7)

#4 通常费用转换激活（1 月 7 日）

In the decentralized finance (DeFi) arena, the USUAL ecosystem is set to activate its fee switch on January 7, 2025. This marks a pivotal transformation: holders of USUAL who stake their tokens will start receiving a share of the protocol’s revenue. By directly rewarding stakers with transaction fees, the protocol hopes to foster a more robust and participatory user base.

在去中心化金融 (DeFi) 领域，USUAL 生态系统将于 2025 年 1 月 7 日激活其费用开关。这标志着一个关键转变：质押其代币的 USUAL 持有者将开始获得该协议收入的一部分。通过直接向利益相关者奖励交易费，该协议希望培养更强大、更具参与性的用户群。

#5 Do Kwon’s Second US Hearing (January 8)

#5 Do Kwon 在美国举行的第二次听证会（1 月 8 日）

Terra founder Do Kwon faces a critical juncture in his legal battle with US authorities, with his second hearing scheduled for January 8. Having been extradited to the United States, Kwon now faces a maximum penalty of 130 years in prison if convicted on the extensive fraud charges detailed in the Department of Justice’s 79-page indictment.

Terra 创始人 Do Kwon 在与美国当局的法律斗争中面临关键时刻，第二次听证会定于 1 月 8 日举行。Kwon 已被引渡到美国，如果因大规模欺诈罪名成立，他将面临最高 130 年监禁的处罚司法部 79 页的起诉书详细列出了指控。

The DOJ’s case adds new layers of allegations beyond those examined in the SEC’s civil proceedings, including accusations that Kwon acted with explicit criminal intent to mislead investors. As prosecutors build their argument around five alleged fraud schemes, among others, falsely advertising Terra’s stability, manipulating the Luna Foundation Guard and falsifying Terra’s use by Chai.

美国司法部的案件在 SEC 民事诉讼中审查的指控之外增加了新的指控，包括指控 Kwon 的行为具有明显的犯罪意图，以误导投资者。检察官围绕五项涉嫌欺诈计划展开论证，其中包括虚假宣传 Terra 的稳定性、操纵 Luna 基金会守卫以及伪造 Chai 对 Terra 的使用。

#6 GMX Trading Fees Reduction (January 6)

#6 GMX 交易费用下调（1 月 6 日）

Derivatives-focused exchange GMX is taking a notable step to encourage higher trading volumes by lowering fees across all markets. Effective January 6, 2025, GMX will cut open and close fees from 5 basis points (bps) and 7 bps to 4 bps and 6 bps, respectively. The team stated via X: “To kick off 2025 in style, GMX is reducing trading fees across all markets! Starting this Monday, January 6, the open and close fees for all positions will decrease from 5 bps / 7 bps to 4 bps / 6 bps.”

专注于衍生品的交易所 GMX 正在采取重大举措，通过降低所有市场的费用来鼓励更高的交易量。自 2025 年 1 月 6 日起，GMX 将开盘和收盘费用分别从 5 个基点 (bps) 和 7 个基点削减至 4 个基点和 6 个基点。该团队通过 X 表示：“为了以时尚的方式开启 2025 年，GMX 正在降低所有市场的交易费用！从 1 月 6 日星期一开始，所有头寸的开仓和平仓费用将从 5 bps / 7 bps 降至 4 bps / 6 bps。”

However, rather than a blanket rate of 4.5 bps, the new structure introduces a sliding scale: traders who enter positions that improve the balance between longs and shorts pay the lower 4 bps fee, while those that heighten imbalances pay 6 bps. According to GMX, “This adjustment ensures balanced open interest, which in turn keeps funding fees and price impact low.”

然而，新结构不是采用 4.5 个基点的统一费率，而是引入了浮动比例：建立改善多头和空头之间平衡的头寸的交易者支付较低的 4 个基点费用，而那些加剧失衡的交易者支付 6 个基点。 GMX 表示，“这一调整确保了持仓量的平衡，从而使融资费用和价格影响保持在较低水平。”

Simultaneously, GMX has updated liquidation fees to 20 bps for asset-backed markets and 30 bps for synthetic markets.

同时，GMX 已将资产支持市场的清算费用更新为 20 个基点，将合成市场的清算费用更新为 30 个基点。