2025 年加密货币将不仅仅是比特币和以太坊

这是数字资产管理公司 Grayscale 最新的高涨代币季度综述的要点之一。

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 公布了最新的高涨代币季度综述，列出了 20 种有望在 2025 年第一季度掀起波澜的数字资产。

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.

在这些代币中，有六种首次上榜：Ethena、Hyperliquid、Jupiter、Jito、Virtuals 和 Grass。据 Grayscale 称，这些新增内容在很大程度上受到了被认为对加密货币行业有利的几个关键趋势的影响。

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.

这家数字货币资产管理公司强调了共和党在美国大选中的成功对去中心化金融和质押以及人工智能“代理”和 Solana 区块链的日益使用的潜在影响。

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.

为了提供更多背景信息，Grayscale 是最大的加密货币交易所交易基金发行人之一，管理着价值超过 240 亿美元的比特币和以太币（这两种领先的加密货币）。

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，清单中包含的一些代币将从美国大选中的红色大扫除中受益匪浅，共和党人获得了国会两院和总统职位的控制权。

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

据行业观察人士称，这一结果预计将为未来四年内更加有利于加密货币的监管铺平道路。

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

自大选以来，整个加密货币市场飙升了 40% 以上，截至目前其总价值接近 3.4 万亿美元。

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 已成为牛市中的卷土重来的赢家之一。随着支撑 Solana 价值的 FTX 崩溃，该代币经历了急剧下跌。

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 崩盘后，Solana 代币从之前的历史高点 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 协议的激增以及 memecoin 和 AI 代理的流行，推动其在 11 月创下历史新高，使其超越 Tron 成为今年第二大 DeFi 生态系统的区块链。

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 最大的两个 DeFi 协议、去中心化交易所聚合器 Jupiter 和流动质押协议 Jito 是 Grayscale 列表中新增的六个协议之一。

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 强调了 Jupiter 利用 Solana 作为人工智能代理和 memecoin 交易中心的潜力。与此同时，Jito 被列为 DeFi 领域最赚钱的协议之一，2024 年收取的费用超过 5 亿美元。

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.

人工智能和加密货币的交叉点在 2024 年引起了广泛关注。投资者已向加密人工智能项目投入数亿美元，而研究人员估计，到 2030 年，这一组合将为全球经济再增加 20 万亿美元。

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 的列表反映了这种热潮，其中两个新代币在人工智能和加密货币的结合点上运行：Virtuals，它简化了 Base 区块链上人工智能代理的创建，以及 Grass，它使用户能够将未使用的互联网带宽出租给人工智能公司这需要它从网络上抓取数据来训练人工智能模型。

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 还包括了两个已跻身 DeFi 最前沿的协议：稳定币发行者 Ethena 和专注于交易的区块链 Hyperliquid。

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

Hyperliquid 在 11 月份的空投创造了数十位新的加密货币百万富翁，并引发了有关 DeFi 复兴的猜测。

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，根据 DefiLlama 的数据，今年早些时候推出的 Ethena 稳定币 USDe 已经超过 Sky 的 DAI，成为第三大稳定币。

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

Grayscale 还指出，从其前 20 名列表中删除了 6 个代币：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."

该公司表示：“灰度研究继续看到这些项目的价值。” “然而，我们相信，修订后的前 20 名名单可能会为下一季度提供更引人注目的风险调整回报。”

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

Aleks Gilbert 驻纽约，是 DL News 的 DeFi 记者。提示可以发送至 aleks@dlnews.com。