加密货币行业正处于前所未有的扩散阶段

在CoinMarketCap上列出了近1100万个令牌，市场正面临一个可以重新定义其平衡的动态。

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.

加密货币行业正经历着前所未有的扩散时期。在CoinMarketCap上列出了近1100万个令牌，市场正面临一个可以重新定义其平衡的动态。这种快速的扩展提出了基本问题：我们是目睹市场饱和还是加密生态系统的自然发展？在投机性的热情和对这种资产繁殖的可行性的日益关注之间，2025年标志着决定性的转折点。

A market flooded with new assets

一个充满新资产的市场

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.

加密货币数量的指数增长并非微不足道。在2024年和2025年初，出现了大量的象征作品，尤其是由索拉纳（Solana）的成员驱动的。这些新资产通常以纯粹的投机方式推出，正在引起越来越多的投资者关注。

“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·马丁内斯（Ali Martinez）在2025年1月25日的社交网络X（以前是Twitter）上的一篇文章中观察到：“凭借如此丰富的供应，市场发生了深刻的变化。 2018年不到3,000，2013 - 2014年仅为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.

代币的这种乘法提出了一个核心问题：资本和投资者关注的散射。在每个新的加密货币试图捕捉市场份额的环境中，更坚实和技术先进的项目都在努力脱颖而出。根据马丁内斯的说法，这种对资金和投机性兴趣的稀释甚至可能阻碍新的Altcoin季节的出现，传统上是这些替代资产的壮观浪潮。

An inevitable market consolidation ?

不可避免的市场合并？

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.

面对这种扩散，该部门的一些数字呼吁对上市的更有效调节。 Coinbase首席执行官Brian Armstrong承认，令牌的手动评估不再可行。他在2025年1月26日在X平台上说：“我们需要在Coinbase上重新考虑我们的上市过程，因为每周都会创建一百万个新令牌。”这种认可强调了现象的规模和交流的紧迫性，要适应适应的交流。市场不断变化的现实。

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平台的联合创始人Dan Novaes认为2025年将是该行业的关键年份。他认为，加密货币的过度扩散应导致巩固阶段，类似于2008年至2010年之间影响移动应用程序市场的阶段。项目与精简产品之间的合并有望成为对这种丰度的自然反应。

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.

加密货币数量的爆炸量既反映了对区块链创新的热情，又反映了与供应过多相关的风险。这种数字拥挤可能会迫使市场发展到更加成熟和选择性的模型，在这种模型中，只有最扎实，最结构化的项目才能生存。虽然当前时期似乎是分裂过多的标志，但资产的合理化和评估过程的更好结构可以重新定义游戏规则。因此，加密货币的未来并不依赖于它们的数量，而是取决于他们创造实际附加价值的能力。

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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.

我是科学毕业生Po Toulouse的毕业生，是Alyra发行的区块链顾问认证的持有人，我于2019年加入了Cointribuna冒险。

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.

我坚信区块链改变了许多经济领域的潜力，我承诺提高认识，并告知普通大众关于这种不断发展的生态系统。我的目标是让每个人都能更好地了解区块链并抓住他们提供的机会。我每天都在努力对新闻进行客观的分析，破译市场趋势，传达最新的技术创新，并将其视为正在进行的革命的经济和社会问题。