2025 年：加密货币市场具有里程碑意义的一年，比特币和以太坊达到前所未有的水平

Steno Research 最近的一项分析预测，2025 年可能成为加密货币市场具有里程碑意义的一年

A recent analysis by Steno Research has forecasted 2025 could emerge as a landmark year for the cryptocurrency market, with Bitcoin and Ethereum projected to reach unprecedented levels.

Steno Research 最近的一项分析预测，2025 年可能成为加密货币市场具有里程碑意义的一年，比特币和以太坊预计将达到前所未有的水平。

According to the research, Bitcoin’s value is anticipated to exceed $150,000, while Ethereum is expected to pass the $8,000 mark, accompanied by significant developments in the altcoin sector.

根据研究，随着山寨币领域的重大发展，比特币的价值预计将超过 15 万美元，而以太坊预计将突破 8,000 美元大关。

The enthusiasm surrounding these predictions is largely attributed to a conducive regulatory landscape for cryptocurrencies, favorable macroeconomic conditions characterized by low interest rates, increased liquidity, and historically strong post-Bitcoin-halving performances.

围绕这些预测的热情很大程度上归因于对加密货币有利的监管环境、以低利率为特征的有利宏观经济条件、流动性增加以及比特币减半后历史上强劲的表现。

Institutional adoption of cryptocurrencies is set to soar, supported by substantial investments in U.S.-based Bitcoin and Ethereum exchange-traded funds (ETFs). Steno anticipates net inflows of $48 billion for Bitcoin ETFs and $28.5 billion for Ethereum ETFs in 2025.

在美国比特币和以太坊交易所交易基金（ETF）的大量投资的支持下，加密货币的机构采用率将飙升。 Steno 预计，到 2025 年，比特币 ETF 的净流入将达到 480 亿美元，以太坊 ETF 的净流入将达到 285 亿美元。

Ethereum is likely to outshine Bitcoin in 2025, with the ETH/BTC ratio expected to reach approximately 0.06, nearly double the current level. This trend may mark the onset of an altcoin season, with Bitcoin’s market share dropping from nearly 57% to about 45%.

以太坊很可能在 2025 年超越比特币，ETH/BTC 比率预计将达到 0.06 左右，几乎是目前水平的两倍。这一趋势可能标志着山寨币季节的开始，比特币的市场份额从近 57% 下降至约 45%。

Steno’s projections also consider geopolitical factors, predicting that Donald Trump’s presidency could create a more favorable environment for altcoin growth. This view posits that Trump’s administration will likely bolster on-chain activity, benefiting altcoins like Ethereum and Solana.

Steno 的预测还考虑了地缘政治因素，预测唐纳德·特朗普的总统任期可能会为山寨币的增长创造更有利的环境。这种观点认为，特朗普政府可能会加强链上活动，使以太坊和 Solana 等山寨币受益。

Grayscale, an asset management firm, shares this optimistic outlook. It has included various decentralized finance applications, particularly those on Solana, in its list of leading tokens for early 2025, citing improved U.S. policy conditions. The total value locked in decentralized applications is expected to exceed $300 billion in 2025, surpassing the highs of approximately $180 billion achieved in 2021.

资产管理公司 Grayscale 也持同样乐观的看法。它已将各种去中心化金融应用程序（尤其是 Solana 上的应用程序）纳入其 2025 年初的领先代币列表中，理由是美国政策条件有所改善。预计到 2025 年，去中心化应用程序锁定的总价值将超过 3000 亿美元，超过 2021 年约 1800 亿美元的高点。

In summary, with anticipated advancements in regulation, macroeconomic trends, and institutional participation, 2025 is positioned as a potentially transformative year for the cryptocurrency sector.

总之，随着监管、宏观经济趋势和机构参与方面的预期进步，2025 年被定位为加密货币行业潜在变革的一年。