重新定义“ Altseason”

CryptoQuant首席执行官Ki Young Ju正在震撼我们所知道的“ Altcoin季节”的想法，这表明只有少数几个Altcoins将在2025年蓬勃发展。

CryptoQuant CEO Ki Young Ju has a new take on “altcoin season.”

CryptoQuant首席执行官Ki Young Ju在“ Altcoin赛季”中有了新的看法。

According to Ju, only a select few altcoins will thrive in 2025. This differs from past cycles, where almost all altcoins pumped together. Ju believes that this bull run will favor projects with strong projects with real-world use cases.

根据JU的说法，只有少数几个Altcoins将在2025年蓬勃发展。这与过去的周期不同，几乎所有的Altcoins都泵在一起。 JU认为，这种公牛跑步将有利于具有现实世界中用例的强大项目的项目。

The Key to Success: ETFs, Hype, and Revenue

成功的关键：ETF，炒作和收入

Three main factors will determine which altcoins survive, Ju highlights.

三个主要因素将确定哪些山寨币生存，JU亮点。

First, altcoins with ETF narratives, like XRP, Solana (SOL), Litecoin (LTC), Dogecoin (DOGE), and Hedera (HBAR), could see major institutional inflows, similar to Bitcoin’s ETF-driven rally.

首先，具有ETF叙事的山寨币，例如XRP，Solana（Sol），Litecoin（LTC），Dogecoin（Doge）和Hedera（HBAR），可以看到类似于比特币的ETF驱动的集会类似的主要机构流入。

Recently, a Bloomberg analysis by James Seyffart and Eric Balchunas predicted a 90% chance of approval for a Litecoin ETF, 75% for Dogecoin, 70% for Solana, and 65% for XRP. While Ju sees a good chance for these coins to rally in this “selective altcoin season” others may miss the train.

最近，詹姆斯·塞夫特（James Seyffart）和埃里克·巴尔库纳斯（Eric Balchunas）的彭博社分析预测，莱特币ETF的批准机会为90％，狗狗币为75％，索拉纳（Solana）为70％，XRP为65％。虽然Ju可以在这个“选择性的Altcoin赛季”中召集这些硬币的好机会，但其他人可能会错过火车。

Moreover, Trump’s pro-crypto governance is creating a bullish vibe for the next batch of ETF approvals. Raising the ETF bar-o-meter, Franklin Templeton filed for a spot Solana ETF showing rising institutional interest.

此外，特朗普的亲克赖普托治理正在为下一批ETF批准创造看涨的氛围。富兰克林·邓普顿（Franklin Templeton）提高了ETF bar-o-米表，为机构兴趣不断上升，提出了一个斑点的ETF。

Meanwhile, Brazil is preparing for the world’s first spot XRP ETF, which is now listed as pre-operational.

同时，巴西正在为世界上第一个位置XRP ETF做准备，该XRP ETF现在被列为术前。

But Ju says apart from ETFs sustainability is the key. Many meme coins rise and fall quickly, but projects with ongoing developer activity, strong communities, and investor confidence will maintain their relevance. We have seen such pump-dump shows with TRUMP and LIBRA.

但是Ju说，除ETFS外，可持续性是关键。许多模因硬币迅速上升和下降，但是具有持续开发人员活动，强大社区和投资者信心的项目将保持其相关性。我们已经在特朗普和天秤座看到了这样的抽水表演。

Finally, revenue-generating projects with solid business models and real-world utility will stand out. Tokens that rely solely on speculation will struggle, while those with solid revenue streams will survive.

最后，具有坚实的业务模型和现实世界实用程序的创收项目将脱颖而出。仅依靠投机的代币将挣扎，而拥有稳定收入来源的代币将得以生存。

The Era of “Everything Pumping” is Over

“一切抽水”的时代已经结束

Ju warns that broad altcoin rallies are a thing of the past. While Bitcoin is hitting new highs, many altcoins are still far from their previous peaks. This suggests that only select tokens will benefit from this cycle, making it crucial for investors to be strategic in their choices.

JU警告说，广泛的Altcoin集会已成为过去。尽管比特币达到了新的高点，但许多Altcoins仍然远离以前的峰值。这表明只有精选令牌才能从这个周期中受益，这对于投资者的选择至关重要。

Recent data supports Ju’s argument. Last week, Bitcoin saw massive outflows of $571 million, while some altcoins, like XRP, saw inflows of $38.3 million. This suggests that investors are being more selective, favoring established altcoins over high-risk bets.

最近的数据支持JU的论点。上周，比特币的流出量为5.71亿美元，而XRP（例如XRP）的一些Altcoins的流入量为3830万美元。这表明投资者更具选择性，而偏爱已建立的Altcoins而不是高风险的赌注。

Ethereum and Solana have also shown strength, indicating that only a few major altcoins will benefit from market shifts.

以太坊和索拉纳也表现出了力量，表明只有少数主要的山寨币将受益于市场变化。

Ju also highlights the current liquidity struggles in crypto. He describes the market as a “PvP fight,” where instead of new money entering, existing capital is being shuffled around between assets. This shows how the market has matured, with institutional players taking control and favoring stability over past retail-driven altcoin booms.

JU还强调了当前的加密流动性斗争。他将市场描述为“ PVP斗争”，而不是进入新资金，而是在资产之间被围绕着现有资金。这表明了市场是如何成熟的，机构参与者控制了过去的零售驱动的Altcoin Booms的稳定性。

In short, this altcoin season is different and many altcoins will not top and only established coins will gain the investor’s faith. He even urges investors to trust only legitimate projects.

简而言之，这个Altcoin季节是不同的，许多山寨币将不会顶级，只有建立的硬币才能获得投资者的信仰。他甚至敦促投资者仅信任合法的项目。