Sky，Pendle和Pi Network：2025年浏览加密货币景观

观察2025年的天空（天空），彭德尔（Pendle）和PI Network（PI），分析了它们在不断发展的加密市场中的潜力，挑战和地位。他们值得炒作吗？

The crypto market is buzzing with activity, and projects like Sky, Pendle, and Pi Network are at the forefront. Let's dive into what makes them tick and where they might be headed.

加密市场正在嗡嗡作响，而Sky，Pendle和Pi Network等项目处于最前沿。让我们深入研究使他们打勾的原因以及他们可能会去的地方。

Sky (SKY): Building the Institutional Bridge

天空（天空）：建造机构桥

Sky, formerly MakerDAO, is making waves as a provider of institutional-grade crypto infrastructure. Trading around $0.10, Sky is gaining traction with its on-chain money market funds and fixed-income products. Partnerships with big players like Ondo Finance and BlackRock are key to scaling liquidity and bringing crypto into the mainstream. However, keep an eye on market consolidation and potential profit-taking, which could put pressure on Sky's price.

Sky曾是Makerdao，作为机构加密基础设施的提供商，阵阵浪潮。 Sky的交易约为0.10美元，其链上货币市场基金和固定收益产品都在吸引人。与Ondo Finance和BlackRock等大型参与者的合作伙伴关系是扩展流动性并将加密货币带入主流的关键。但是，请密切关注市场整合和潜在的利润，这可能会给天空的价格带来压力。

Pendle (PENDLE): Embracing the Multi-Chain Future

Pendle（Pendle）：拥抱多链未来

Pendle's been on a rollercoaster, trading between $4.20 and $5.50. But its multi-chain expansion into Solana, Hyperliquid, and TON is a game-changer, reducing its dependence on Ethereum. Plus, Pendle's Shariah-compliant Citadel is tapping into the massive Islamic finance market. With TVL reaching $8.5 billion, Pendle's partnerships and strategic moves are worth watching. Just remember, bearish trends could persist if it doesn't reclaim that $4.72–$4.90 range.

Pendle一直在过山车上，交易价格在4.20美元至5.50美元之间。但是，它的多链扩展到Solana，Hyproliquid和Ton是一个改变游戏规则的人，可减少其对以太坊的依赖。另外，彭德尔（Pendle）符合伊斯兰教法的城堡正在攻入大规模的伊斯兰金融市场。随着TVL达到85亿美元，Pendle的合作伙伴关系和战略举动值得一看。请记住，如果不收回$ 4.72- $ 4.90的范围，看跌趋势可能会持续下去。

Pi Network (PI): Real-World Utility or Just Hype?

PI网络（PI）：现实世界实用程序还是只是炒作？

Pi Network remains a hot topic, trading at $0.44. The project's focus on real-world utility and regulatory compliance is a step in the right direction. Securing a Gold Sponsorship at TOKEN2049 Singapore 2025 and partnerships for local payment methods in numerous countries are expanding its reach. However, its price remains below $0.35, raising questions about its ability to scale. Transparency and development progress are crucial for Pi to reverse its downtrend.

PI网络仍然是一个热门话题，交易价格为0.44美元。该项目对现实世界实用程序和监管合规性的关注是朝着正确方向迈出的一步。在Token2049新加坡2025年获得黄金赞助，并在许多国家 /地区建立了当地支付方式的合作伙伴关系，正在扩大其影响力。但是，其价格仍低于0.35美元，引发了有关其扩展能力的问题。透明度和发展进步对于PI扭转其下降趋势至关重要。

DeFi's Interconnectedness: The Ethena-Pendle-Aave Loop

Defi的相互联系：Ethena-Pendle-aave循环

DeFi's composability is creating exciting new possibilities. The Ethena-Pendle-Aave loop demonstrates how protocols can plug into each other to generate yield. Ethena creates yield with USDe, Pendle packages it into Principal Tokens, and Aave allows borrowing against these tokens. It’s like DeFi Lego blocks that work together. The potential addition of Hyperliquid could further expand this ecosystem, deepening capital efficiency and reshaping on-chain yield strategies.

Defi的合成性正在创造令人兴奋的新可能性。 Ethena-pendle-aave循环演示了协议如何相互插入以产生产量。 Ethena用USDE创造产量，Pendle将其包装成主要令牌，而AAVE允许对这些令牌进行借用。就像是一起工作的Defi Lego块。超流动性的潜在增加可能会进一步扩大该生态系统，加深资本效率并重塑链产量策略。

XRP: A Look Back and a Reality Check

XRP：回顾和现实检查

While some analysts are drawing parallels between XRP's current price structure and its 2017 bull run, conditions in 2025 are vastly different. Long-term XRP holders seem less convinced this time around, and XRP's performance against Bitcoin remains weak compared to 2017. The competition is also fiercer, with rivals like Ether, Solana, and Sui vying for dominance in the cross-border settlement space. Five-digit percentage gains may be a tall order this time.

尽管一些分析师在XRP的当前价格结构和2017年公牛运行之间划分了相似之处，但2025年的条件却大不相同。这次的长期XRP持有人似乎不那么说服力，与2017年相比，XRP对比特币的表现仍然很弱。竞争也更加激烈，竞争对手，Ether，Solana和Sui等竞争对手争夺在跨境和解空间中的优势。这次可能是五位数的收益。

The Bottom Line

底线

Sky, Pendle, and Pi Network each offer unique narratives in the crypto space. Sky's building institutional infrastructure, Pendle is innovating with multi-chain solutions, and Pi Network is pushing for real-world utility. Keep an eye on their technical catalysts, regulatory compliance, and ability to overcome bearish trends. For example, Remittix (RTX), priced at $0.1030, is working on cross-border payments with a beta wallet to be implemented in Q3 2025. As always, invest wisely and do your own research. The crypto world never sleeps!

Sky，Pendle和Pi Network各自在加密空间中提供独特的叙述。 Sky的建筑机构基础设施，Pendle正在通过多链解决方案进行创新，而PI网络正在推动现实世界实用程序。密切关注他们的技术催化剂，法规合规性以及克服看跌趋势的能力。例如，价格为0.1030美元的Remittix（RTX）正在使用Beta Wallet进行跨境支付，将在第三季度2025年实施。与往常一样，请明智地投资并进行自己的研究。加密世界永远不会睡觉！