這份由Tiger Research撰寫的報告對Token2049 Dubai會議的主要趨勢進行了深入分析

這份由Tiger Research撰寫的報告對Token2049 Dubai會議的主要趨勢進行了深入分析，表明Stablecoins正在成為關鍵基礎設施

The TOKEN2049 conference in Dubai is a yearly event that brings together some of the biggest names in the cryptocurrency industry to discuss the latest trends and technologies. This year's conference, which took place on September 24-25, was no exception, with attendees from over 160 countries converging on the Dubai World Trade Centre.

迪拜舉行的Token2049會議是一年一度的活動，匯集了加密貨幣行業中一些知名人士，以討論最新趨勢和技術。今年的會議於9月24日至25日舉行，也不例外，來自160個國家 /地區的參與者聚集在迪拜世界貿易中心。

While the conference itself is a useful snapshot of the industry's priorities, a deeper analysis of the side events and closed-door meetings reveals more fundamental shifts in direction and strategic reshaping, factors that often have a greater impact on the market in the long run.

雖然會議本身是該行業優先事項的有用快照，但對附帶事件和閉門會議的更深入分析揭示了方向和戰略性重塑的更根本的轉變，從長遠來看，這些因素通常會對市場產生更大的影響。

Here are some of the key trends that emerged from TOKEN2049 Dubai 2025:

以下是Token2049迪拜2025年出現的一些關鍵趨勢：

1. Stablecoins are emerging as critical infrastructure in the Web3 space.

1。 Stablecoins在Web3空間中成為關鍵基礎架構。

This view was shared by several prominent figures at the conference. Among them, Tether CEO Paolo Ardoino highlighted the importance of stablecoins in enabling efficient cross-border transactions and promoting financial inclusion.

會議上的幾個著名人物分享了這種觀點。其中，繫繩首席執行官保羅·阿多諾（Paolo Ardoino）強調了穩定菌在實現有效的跨境交易和促進金融包容性方面的重要性。

According to Ardoino, stablecoin transactions are expected to expand from on-chain activities to the real economy, potentially forming a trillion-dollar market. This prospect has attracted more and more participants to enter the stablecoin space.

根據Ardoino的說法，預計Stablecoin交易將從鏈活動擴展到實際經濟，可能形成萬億美元的市場。這一前景吸引了越來越多的參與者進入Stablecoin空間。

As this view solidifies, the industry's focus has shifted from simple integration to control of the payment layer. The goal is not just to stop at the issuance stage, but to extend to building end-to-end financial infrastructure. Web3 projects and institutions are stepping up their efforts to take a leading position in the stablecoin technology stack.

隨著這種觀點鞏固，行業的重點已經從簡單集成轉變為控制支付層。目標不僅是在發行階段停止，還要擴展到建築物端到端的金融基礎設施。 Web3項目和機構正在加緊努力，以在Stablecoin Technology Stack中處於領先地位。

Although still in its early stages, this shift has already driven ecosystems such as Solana, Tron, and TON to accelerate their efforts to establish themselves as foundational settlement platforms. Their strategies are not limited to the issuance of stablecoins, but also cover wallet development, payment infrastructure construction, and institutional adoption.

儘管仍處於早期階段，但這種轉變已經驅動了諸如Solana，Tron和Ton之類的生態系統，以加速他們作為基礎和解平台的努力。他們的策略不僅限於簽發穩定的策略，還涵蓋了錢包的開發，支付基礎設施建設和機構採用。

2. AI in Crypto: Exciting but Still Experimental

2。 ai in Crypto：令人興奮但仍在實驗

A general tone of caution prevailed in the discussion on AI. Many participants pointed out that the gap between market enthusiasm and the maturity of current technological development is widening.

關於AI的討論，普遍的謹慎態度佔了上風。許多參與者指出，市場熱情與當前技術發展的成熟度之間的差距正在擴大。

In particular, some AI agent projects have been criticized for lacking clear use cases, further deepening the perception that much of the activity in the field is still speculative.

特別是，一些AI代理項目因缺乏明確的用例而受到批評，進一步加深了人們認為該領域的大部分活動仍然是投機性的看法。

Despite these concerns, there is long-term confidence in the potential role of Web3 in the AI market. Concepts such as decentralized AI computing and open-source agent frameworks are seen as areas with real potential.

儘管有這些擔憂，但人們對Web3在AI市場中的潛在作用仍然有信心。分散的AI計算和開源代理框架等概念被視為具有真正潛力的領域。

These are seen as long-term opportunities rather than short-term trends and are expected to gradually gain traction after the current market noise subsides.

這些被視為長期機遇，而不是短期趨勢，預計在當前的市場噪聲消退後會逐漸獲得吸引力。

While AI continues to attract widespread attention, most attendees agreed that the field should be approached from a long-term perspective, with the current focus still on basic experiments rather than immediate large-scale applications.

儘管AI繼續引起廣泛的關注，但大多數與會者都同意，應該從長期的角度來了解該領域，目前的重點仍在基本實驗上，而不是立即進行大規模應用程序。

3. Node Sales Boom

3。節點銷售繁榮

One hot topic at the conference was the node sales initiative. Several protocols, including Aptos, Solana, and NEAR, are opening up node operation to a wider audience—a move that is often limited to a select few.

會議上的一個熱門話題是節點銷售計劃。包括Aptos，Solana和附近在內的幾種協議正在向更廣泛的受眾開放節點操作，這一舉動通常僅限於少數幾個。

This initiative is seen as an important step toward greater decentralization and redistributing participation opportunities. However, some attendees were skeptical of the trend.

該倡議被視為邁向更大的權力下放和重新分配參與機會的重要一步。但是，一些與會者對趨勢持懷疑態度。

They questioned whether these sales were just retail funding strategies wrapped in ecosystem participation. Criticisms focused on inflated reward structures, unclear token models, and a lack of meaningful network activity to support the sales.

他們質疑這些銷售是否只是在生態系統參與中包裹的零售資金策略。批評集中在誇張的獎勵結構，不清楚的令牌模型以及缺乏有意義的網絡活動來支持銷售的情況下進行的批評。

Despite these skepticism, multiple projects have attracted significant capital and attention. However, their long-term viability remains uncertain and will ultimately depend on the performance of the network’s actual utility.

儘管有這些懷疑，但多個項目吸引了大量資本和關注。但是，它們的長期生存能力仍然不確定，最終將取決於網絡實際實用程序的性能。

4. Technology is no longer the only bargaining chip

4。技術不再是唯一的議價籌碼

The gap between technological progress and market adoption continues to widen. Even teams with strong technical capabilities admit that continued research alone is no longer enough to attract market interest.

技術進步與採用市場的差距不斷擴大。甚至具有強大技術能力的團隊也承認，僅持續研究就不再足以吸引市場興趣。

Many technically mature protocols have failed to gain user attention, while some simple meme coins launched through meme platforms continue to generate stable trading volume.

許多技術上成熟的協議未能引起用戶的關注，而通過模因平台啟動的一些簡單的模因硬幣繼續產生穩定的交易量。

In response, industry participants are shifting their focus from research to execution. More and more efforts are focused on developing strategic market entry plans, understanding liquidity flows, building exchange relationships, and designing user-friendly token models.

作為回應，行業參與者將重點從研究轉移到執行。越來越多的努力集中在製定戰略市場進入計劃上，了解流動性流動，建立交流關係以及設計用戶友好的代幣模型。

While technical excellence remains important, the ability to create meaningful value will be limited without an effective distribution strategy.

儘管技術卓越仍然很重要，但沒有有效的分配策略，創造有意義價值的能力將受到限制。

Market participants are increasingly concerned that short-term returns and immediate utility are taking precedence over long-term innovation. In the current environment, execution trumps potential. The market has evolved into a competitive arena where technology alone cannot ensure survival.

市場參與者越來越擔心短期收益和直接效用優先於長期創新。在當前的環境中，執行勝過潛力。市場已經發展成為一個競爭激烈的領域，僅技術就無法確保生存。

5. Key Announcements

5。關鍵公告

Several major announcements took place at the conference, aligning well with the overarching themes of TOKEN2049.

會議上有幾次重大公告，與Token2049的總體主題息息相關。

Stablecoins remain a core issue, evident in Tether’s unveiling of a U.S. compliant dollar stablecoin program and a $2 billion investment case based on stablecoins.

Stablecoins仍然是一個核心問題，在Tether揭幕美國符合美國的Dollar Stablecoin計劃和基於Stablecoins的20億美元投資案件中很明顯。

Infrastructure development is another major focus, with companies such as OKX, Zodia, and MEXC making particularly significant efforts in scalability, custody, and modular architecture.

基礎設施開發是另一個主要重點，OKX，Zodia和MEXC等公司在可伸縮性，監護權和模塊化體系結構上做出了特別重大的努力。

The evolution of

演變