灰度发布了Q2 2025的前20个加密项目的更新列表，介绍枫（糖浆），Geodnet（Geod）和故事协议（IP）

Grayscale是世界上最大的加密资产管理公司，已发布其最新的2025年第二季度潜在加密项目列表。

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.

加密资产管理公司Grayscale已更新了其第2季度2025年前20个加密货币项目的列表。最新的列表带来了三个新的竞争者-Amaple（Syrup），Geodnet（Geodnet）（Geod）和故事协议（IP）（IP） - 将Akash，Arweave和Jupiter从其排名中获得。

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

随着加密货币市场在动荡的时期导航，格雷斯卡（Grayscale）正在对新兴趋势进行有趣的赌注，这些趋势可以改写该行业的叙述。

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.

根据Grayscale Research的数据，2025年第一季度的加密货币市场下降，反映了技术股票和其他高风险资产的下降。尽管如此，DEFI，AI和基础设施领域的Web3应用程序统称超过20亿美元的收入。

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.

该报告中的一个亮点是SUI（SUI）作为智能合约平台的承诺。它提供了快速交易的费用最低，而无需以太坊（例如以太坊）额外的缩放层。但是，目前，SUI仅占Grayscale智能合同平台指数的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.

对于第二季度2025年，格雷斯卡（Grayscale）将目光投向了三个关键领域：分散的物理基础设施（DEPIN），现实世界资产（RWA）和知识产权令牌（IP）。一些新项目正引起人们的关注。

Among the new additions to Grayscale’s watchlist are:

在灰度列表清单的新添加中，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.

枫（糖浆）：一个贷款平台，可满足超过6亿美元总价值锁定（TVL）的机构客户的需求。它在过去一个月中已经产生了2000万美元的费用，到2025年的目标是20亿美元。

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）：一个分散的基础架构项目，可提供实时，高度准确的定位数据。现在，它在130多个国家 /地区拥有14,000多个设备，已经超过300万美元的月收费收入。

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.

故事协议（IP）：专注于使$ 70万亿美元的知识产权市场的实现，该项目通过将包括贾斯汀·比伯（Justin Bieber）和BTS在内的顶级艺术家带到区块链中，成为头条新闻。

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）警告说，这些资产仍然高度波动和风险。尤其是地球上没有主要的交换清单，使其成为更风险的投资。

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.

三个资产（AR），Akash（AKT）和木星（JUP） - 由于其性能，已从Grayscale的前20名列表中删除。尽管如此，该公司仍将继续监视其潜力。

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，格雷斯卡尔（Grayscale）观察到总体市值下降，消费者和文化部门的削弱，这是由于成员和索拉纳（Solana）的生态系统的下降而驱动的。