这份由Tiger Research撰写的报告对Token2049 Dubai会议的主要趋势进行了深入分析

这份由Tiger Research撰写的报告对Token2049 Dubai会议的主要趋势进行了深入分析，表明Stablecoins正在成为关键基础设施

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.

迪拜举行的Token2049会议是一年一度的活动，汇集了加密货币行业中一些知名人士，以讨论最新趋势和技术。今年的会议于9月24日至25日举行，也不例外，来自160个国家 /地区的参与者聚集在迪拜世界贸易中心。

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.

虽然会议本身是该行业优先事项的有用快照，但对附带事件和闭门会议的更深入分析揭示了方向和战略性重塑的更根本的转变，从长远来看，这些因素通常会对市场产生更大的影响。

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

以下是Token2049迪拜2025年出现的一些关键趋势：

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

1。Stablecoins在Web3空间中成为关键基础架构。

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.

会议上的几个著名人物分享了这种观点。其中，系绳首席执行官保罗·阿多诺（Paolo Ardoino）强调了稳定菌在实现有效的跨境交易和促进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.

根据Ardoino的说法，预计Stablecoin交易将从链活动扩展到实际经济，可能形成万亿美元的市场。这一前景吸引了越来越多的参与者进入Stablecoin空间。

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.

随着这种观点巩固，行业的重点已经从简单集成转变为控制支付层。目标不仅是在发行阶段停止，还要扩展到建筑物端到端的金融基础设施。 Web3项目和机构正在加紧努力，以在Stablecoin Technology Stack中处于领先地位。

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.

尽管仍处于早期阶段，但这种转变已经驱动了诸如Solana，Tron和Ton之类的生态系统，以加速他们作为基础和解平台的努力。他们的策略不仅限于签发稳定的策略，还涵盖了钱包的开发，支付基础设施建设和机构采用。

2. AI in Crypto: Exciting but Still Experimental

2。ai in Crypto：令人兴奋但仍在实验

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.

关于AI的讨论，普遍的谨慎态度占了上风。许多参与者指出，市场热情与当前技术发展的成熟度之间的差距正在扩大。

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.

特别是，一些AI代理项目因缺乏明确的用例而受到批评，进一步加深了人们认为该领域的大部分活动仍然是投机性的看法。

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.

尽管有这些担忧，但人们对Web3在AI市场中的潜在作用仍然有信心。分散的AI计算和开源代理框架等概念被视为具有真正潜力的领域。

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.

这些被视为长期机遇，而不是短期趋势，预计在当前的市场噪声消退后会逐渐获得吸引力。

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.

尽管AI继续引起广泛的关注，但大多数与会者都同意，应该从长期的角度来了解该领域，目前的重点仍在基本实验上，而不是立即进行大规模应用程序。

3. Node Sales Boom

3。节点销售繁荣

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.

会议上的一个热门话题是节点销售计划。包括Aptos，Solana和附近在内的几种协议正在向更广泛的受众开放节点操作，这一举动通常仅限于少数几个。

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

该倡议被视为迈向更大的权力下放和重新分配参与机会的重要一步。但是，一些与会者对趋势持怀疑态度。

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.

他们质疑这些销售是否只是在生态系统参与中包裹的零售资金策略。批评集中在夸张的奖励结构，不清楚的令牌模型以及缺乏有意义的网络活动来支持销售的情况下进行的批评。

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.

尽管有这些怀疑，但多个项目吸引了大量资本和关注。但是，它们的长期生存能力仍然不确定，最终将取决于网络实际实用程序的性能。

4. Technology is no longer the only bargaining chip

4。技术不再是唯一的议价筹码

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.

技术进步与采用市场的差距不断扩大。甚至具有强大技术能力的团队也承认，仅持续研究就不再足以吸引市场兴趣。

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.

许多技术上成熟的协议未能引起用户的关注，而通过模因平台启动的一些简单的模因硬币继续产生稳定的交易量。

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.

作为回应，行业参与者将重点从研究转移到执行。越来越多的努力集中在制定战略市场进入计划上，了解流动性流动，建立交流关系以及设计用户友好的代币模型。

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

尽管技术卓越仍然很重要，但没有有效的分配策略，创造有意义价值的能力将受到限制。

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.

市场参与者越来越担心短期收益和直接效用优先于长期创新。在当前的环境中，执行胜过潜力。市场已经发展成为一个竞争激烈的领域，仅技术就无法确保生存。

5. Key Announcements

5。关键公告

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

会议上有几次重大公告，与Token2049的总体主题息息相关。

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仍然是一个核心问题，在Tether揭幕美国符合美国的Dollar Stablecoin计划和基于Stablecoins的20亿美元投资案件中很明显。

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

基础设施开发是另一个主要重点，OKX，Zodia和MEXC等公司在可伸缩性，监护权和模块化体系结构上做出了特别重大的努力。

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