机构投资和风险投资推动加密货币市场的成熟

Bybit 和 Treehouse 最近的一项研究表明，加密货币市场正在经历重大转变。 2024 年机构行业报告显示，市场日趋成熟，机构信任和风险投资资金不断增加。加密货币总市值从 2023 年 10 月的 1 万亿美元飙升至 2024 年 3 月的 2.5 万亿美元，投资者信心增强。

Institutional Trust and Venture Capital Surge Fuel Crypto Market Maturation

机构信任和风险投资激增推动加密货币市场成熟

The burgeoning crypto market is undergoing a transformative shift, poised to enter a new era of maturity and institutional acceptance. A comprehensive research report released by Bybit and Treehouse, a leading digital asset research firm, unveils this evolution, highlighting the growing trust from institutional players and a surge in venture capital funding that is reshaping the industry landscape.

蓬勃发展的加密货币市场正在经历一场变革，准备进入一个成熟和机构接受的新时代。 Bybit 和领先的数字资产研究公司 Treehouse 发布的综合研究报告揭示了这一演变，强调了机构参与者日益增长的信任以及正在重塑行业格局的风险投资资金的激增。

Surging Institutional Confidence

机构信心高涨

The report paints a picture of a crypto market that has witnessed a significant surge in institutional adoption over the past months. The total value of the crypto market has experienced a meteoric rise, climbing from just over $1 trillion in October 2023 to an impressive $2.5 trillion by March 2024. This surge has been accompanied by a growing confidence among investors in the long-term viability of crypto assets, leading to a steady influx of funds into blockchain-based projects and cryptocurrencies.

该报告描绘了过去几个月机构采用率大幅上升的加密货币市场图景。加密货币市场的总价值经历了飞速增长，从 2023 年 10 月的略高于 1 万亿美元攀升至 2024 年 3 月的令人印象深刻的 2.5 万亿美元。伴随着这种飙升，投资者对加密货币长期生存能力的信心不断增强资产，导致资金稳定涌入基于区块链的项目和加密货币。

Venture Capital Bonanza

风险投资富矿

The report delves deeper into the on-chain data, revealing a remarkable resurgence in Venture Capital (VC) crypto investments. The fourth quarter of 2023 witnessed a substantial 21% increase in VC deals, amounting to 174 transactions with $1.42 billion in disclosed funding. This upward trajectory continued in the first quarter of 2024, with a further 36% uptick in deals, bringing the disclosed funding to a staggering $1.94 billion.

该报告深入研究了链上数据，揭示了风险投资（VC）加密投资的显着复苏。 2023 年第四季度，风险投资交易大幅增长 21%，交易数量达到 174 笔，披露资金 14.2 亿美元。这种上升趋势在 2024 年第一季度持续，交易量进一步增长 36%，使披露的资金达到惊人的 19.4 亿美元。

Infrastructure projects have emerged as the primary focus of VC crypto investments, attracting significant capital to bolster the core elements of the blockchain ecosystem. These projects range from hardware wallets to blockchain data providers and other innovative solutions that address industry challenges and drive technological advancements.

基础设施项目已成为风险投资加密货币投资的主要焦点，吸引了大量资金来支持区块链生态系统的核心要素。这些项目范围从硬件钱包到区块链数据提供商以及其他解决行业挑战和推动技术进步的创新解决方案。

Diversification and Innovation

多元化与创新

The report also emphasizes a key benefit for investors: the low correlation between cryptocurrencies and traditional indices. Both Bitcoin (BTC) and Ethereum (ETH), the two leading cryptocurrencies, maintain correlations below 3% with traditional equity and fixed-income markets. Notably, Bitcoin even exhibits negative correlations, suggesting its potential as a valuable diversification tool for portfolios heavily invested in equities.

该报告还强调了投资者的一个关键好处：加密货币与传统指数之间的相关性较低。比特币 (BTC) 和以太坊 (ETH) 这两种领先的加密货币与传统股票和固定收益市场的相关性均保持在 3% 以下。值得注意的是，比特币甚至表现出负相关性，这表明它有潜力成为大量投资于股票的投资组合的宝贵多元化工具。

While Bitcoin and Ethereum continue to dominate the crypto landscape, the emergence of challenger chains has added a new dimension to the market. These alternative blockchains offer faster transaction speeds and lower fees, attracting developers and users alike. Since the fourth quarter of 2023, native tokens of these challenger chains have significantly outperformed ETH, with Solana (SOL), the leading challenger by transaction volume and Total Value Locked (TVL), taking the lead in this space.

虽然比特币和以太坊继续主导加密领域，但挑战者链的出现为市场增添了新的维度。这些替代区块链提供更快的交易速度和更低的费用，吸引了开发人员和用户。自 2023 年第四季度以来，这些挑战者链的原生代币的表现明显优于 ETH，其中交易量和总锁定价值 (TVL) 方面领先的挑战者 Solana (SOL) 在这一领域处于领先地位。

Long-Term Outlook

长期展望

The Bybit and Treehouse report explores the long-term implications of key events such as the upcoming Bitcoin halving, anticipated to reshape market dynamics. The report also examines the potential impact of Exchange-Traded Funds (ETFs) on the crypto market, as regulators and financial institutions move towards embracing cryptocurrencies.

Bybit 和 Treehouse 的报告探讨了即将到来的比特币减半等关键事件的长期影响，预计将重塑市场动态。该报告还研究了随着监管机构和金融机构逐渐拥抱加密货币，交易所交易基金（ETF）对加密市场的潜在影响。

The report concludes that the crypto market is poised for continued growth and maturity, fueled by institutional trust, venture capital investments, technological innovation, and a growing recognition of the diversification benefits offered by cryptocurrencies. As the industry evolves, it is likely to play an increasingly significant role in the global financial system.

该报告的结论是，在机构信任、风险资本投资、技术创新以及人们对加密货币多元化优势的日益认识的推动下，加密市场有望持续增长和成熟。随着该行业的发展，它可能在全球金融体系中发挥越来越重要的作用。