一切抽水的时代可能已经结束。这是一个选择性的季节 - 大多数Altcoins不会做到。

经过多年的整体市场集会，几乎每个山寨币都飙升的时间可能已经结束。这个市场清除可能导致大多数山寨币的灭绝。

The cryptocurrency market is undergoing a significant transformation in 2025, deviating from the prior periods of massive growth. After several years of overall market rallies, where almost every altcoin experienced a surge, that time may be coming to an end.

加密货币市场在2025年正在发生重大的转变，偏离了前面的大规模增长时期。经过几年的整体市场集会，几乎每个山寨币都经历了激增，那个时候可能即将结束。

Industry experts, such as Ki Young Ju, CEO of CryptoQuant, predict that most altcoins could disappear in the coming months. To survive, they will need to demonstrate financial soundness and secure backing from institutional investors.

CryptoQuant首席执行官Ki Young Ju等行业专家预测，大多数Altcoins可能会在未来几个月内消失。为了生存，他们将需要展示财务状况并获得机构投资者的支持。

In the current market situation, this factor will largely determine which projects thrive and which fade away.

在当前的市场情况下，这一因素将在很大程度上确定哪个项目蓬勃发展并逐渐消失。

In 2025, several altcoins are likely to outperform due to:

在2025年，由于：

1. Potential ETF approvals

1。潜在的ETF批准

2. Sustainable attention drivers

2。可持续的关注驱动力

3. Revenue-generating projectsThe era of everything pumping is over. It’s a selective altseason — most altcoins won’t make it.

3。产生收入的项目，一切抽水的时代已经结束。这是一个选择性的季节 - 大多数Altcoins不会做到。

Altcoins Likely to Outperform in 2025:1. Potential ETF Approvals

山寨币在2025年的表现可能胜过：1。潜在的ETF批准

2. Sustainable Attention Drivers

2。可持续的关注驱动力

3. Revenue-Generating ProjectsThe era of everything pumping is over. It's a selective altseason — most altcoins won't make it.

3。产生收入的项目，一切抽水的时代已经结束。这是一个选择性的季节 - 大多数Altcoins不会做到。

We are now entering what some analysts term a “purge” phase.

现在，我们正在输入某些分析师称为“清除”阶段的内容。

The crypto market is seeing a correction that is liquidating an excess of leveraged positions. About 24% of the 200 largest cryptocurrencies have just reached their lowest prices of the year, showcasing that the bubble of risky growth is shrinking.

加密市场正在看到一种校正，该更正正在清算过多的杠杆位置。在200个最大的加密货币中，约有24％达到了一年中最低的价格，这表明风险增长的泡沫正在减少。

This time might be a chance for investors to buy back into cryptocurrencies at lower prices. However, it could also be a sign that the market is beginning to distinguish between strong projects and those with a lower chance of success.

这次可能是投资者以较低的价格重新购买加密货币的机会。但是，这也可能表明市场开始区分强大的项目和成功机会较低的项目。

During this market shake-up, a few altcoins are primed to benefit from emerging opportunities, especially crypto exchange-traded funds (ETFs). Seven major cryptocurrencies are awaiting approval from U.S. regulators for ETF listings:

在这个市场变化期间，一些山寨币将受益于新兴机会，尤其是加密交易所交易的资金（ETF）。七个主要的加密货币正在等待美国监管机构的ETF列表的批准：

If their requests are approved, these assets could attract massive institutional investment, providing them with a much-needed boost.

如果他们的要求获得批准，这些资产可能会吸引大量的机构投资，从而为他们提供了急需的提升。

However, ETF approval is just one aspect. The underlying strength of each project and user engagement will be crucial in determining which cryptocurrencies can sustain relevance.

但是，ETF批准只是一个方面。每个项目和用户参与的基本优势对于确定哪些加密货币可以维持相关性至关重要。