加密貨幣行業正處於前所未有的擴散階段

在CoinMarketCap上列出了近1100萬個令牌，市場正面臨一個可以重新定義其平衡的動態。

The crypto industry is experiencing an unprecedented period of proliferation. With nearly 11 million tokens listed on CoinMarketCap, the market is facing a dynamic that could redefine its balance. This rapid expansion raises essential questions: are we witnessing market saturation or a natural evolution of the crypto ecosystem? Between speculative fervor and growing concerns about the viability of this multiplication of assets, the year 2025 marks a decisive turning point.

加密貨幣行業正經歷著前所未有的擴散時期。在CoinMarketCap上列出了近1100萬個令牌，市場正面臨一個可以重新定義其平衡的動態。這種快速的擴展提出了基本問題：我們是目睹市場飽和還是加密生態系統的自然發展？在投機性的熱情和對這種資產繁殖的可行性的日益關注之間，2025年標誌著決定性的轉折點。

A market flooded with new assets

一個充滿新資產的市場

The exponential growth in the number of cryptos is not trivial. In 2024 and early 2025, a massive wave of token creations emerged, notably driven by memecoins on Solana. These new assets, often launched in a purely speculative mode, are capturing an increasing share of investor attention.

加密貨幣數量的指數增長並非微不足道。在2024年和2025年初，出現了大量的象徵作品，尤其是由索拉納（Solana）的成員驅動的。這些新資產通常以純粹的投機方式推出，正在引起越來越多的投資者關注。

“With such an abundance of supply, the market has changed profoundly,” observes Ali Martinez in a post on the social network X (formerly Twitter) on January 25, 2025. The figure is staggering: more than 36 million altcoins exist today, compared to less than 3,000 in 2018 and just 500 in 2013-2014.

阿里·馬丁內斯（Ali Martinez）在2025年1月25日的社交網絡X（以前是Twitter）上的一篇文章中觀察到：“憑藉如此豐富的供應，市場發生了深刻的變化。 2018年不到3,000，2013 - 2014年僅為500。

This multiplication of tokens presents a central problem: the scattering of capital and investor attention. In an environment where every new crypto seeks to capture a share of the market, more solid and technologically advanced projects struggle to stand out. According to Martinez, this dilution of funds and speculative interest could even hinder the emergence of a new altcoin season, traditionally marked by spectacular surges of these alternative assets.

代幣的這種乘法提出了一個核心問題：資本和投資者關注的散射。在每個新的加密貨幣試圖捕捉市場份額的環境中，更堅實和技術先進的項目都在努力脫穎而出。根據馬丁內斯的說法，這種對資金和投機性興趣的稀釋甚至可能阻礙新的Altcoin季節的出現，傳統上是這些替代資產的壯觀浪潮。

An inevitable market consolidation ?

不可避免的市場合併？

In the face of this proliferation, some figures in the sector are calling for more effective regulation of listings. Brian Armstrong, CEO of Coinbase, admitted that the manual evaluation of tokens is no longer viable. “We need to rethink our listing process at Coinbase, as a million new tokens are created every week,” he stated on the X platform on January 26, 2025. This recognition highlights the scale of the phenomenon and the urgency for exchanges to adapt to the realities of a changing market.

面對這種擴散，該部門的一些數字呼籲對上市的更有效調節。 Coinbase首席執行官Brian Armstrong承認，令牌的手動評估不再可行。他在2025年1月26日在X平台上說：“我們需要在Coinbase上重新考慮我們的上市過程，因為每週都會創建一百萬個新令牌。”這種認可強調了現象的規模和交流的緊迫性，要適應適應的交流。市場不斷變化的現實。

For his part, Dan Novaes, co-founder of the EARN’M platform, believes that 2025 will be a pivotal year for the industry. He feels that the excessive proliferation of cryptos should lead to a phase of consolidation, similar to that which affected the mobile app market between 2008 and 2010. Mergers between projects and the streamlining of offerings are expected to emerge as a natural response to this abundance.

Earn'm平台的聯合創始人Dan Novaes認為2025年將是該行業的關鍵年份。他認為，加密貨幣的過度擴散應導致鞏固階段，類似於2008年至2010年之間影響移動應用程序市場的階段。項目與精簡產品之間的合併有望成為對這種豐度的自然反應。

The explosion in the number of cryptos reflects both the increased enthusiasm for blockchain innovation and the risks associated with an excessive supply. This digital overcrowding could force the market to evolve towards a more mature and selective model, where only the most solid and well-structured projects will survive. While the current period seems marked by an excess of fragmentation, the rationalization of assets and better structuring of evaluation processes could redefine the rules of the game. Thus, the future of cryptos does not rest so much on their quantity, but rather on their ability to create real added value.

加密貨幣數量的爆炸量既反映了對區塊鏈創新的熱情，又反映了與供應過多相關的風險。這種數字擁擠可能會迫使市場發展到更加成熟和選擇性的模型，在這種模型中，只有最紮實，最結構化的項目才能生存。雖然當前時期似乎是分裂過多的標誌，但資產的合理化和評估過程的更好結構可以重新定義遊戲規則。因此，加密貨幣的未來並不依賴於它們的數量，而是取決於他們創造實際附加價值的能力。

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Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019.

我是科學畢業生Po Toulouse的畢業生，是Alyra發行的區塊鏈顧問認證的持有人，我於2019年加入了Cointribuna冒險。

Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

我堅信區塊鏈改變了許多經濟領域的潛力，我承諾提高認識，並告知普通大眾關於這種不斷發展的生態系統。我的目標是讓每個人都能更好地了解區塊鏈並抓住他們提供的機會。我每天都在努力對新聞進行客觀的分析，破譯市場趨勢，傳達最新的技術創新，並將其視為正在進行的革命的經濟和社會問題。