Swissborg，加密省山币和循环预测：骑行世代财富浪潮

探索瑞士堡的Borg代币，Altcoin季节的预测以及加密市场中世代相传的潜力。 Defi是最好的投资行业吗？

The crypto market is buzzing with predictions of a multi-year bull run, and SwissBorg's Alex Fazel is among the most vocal proponents. He believes we're entering a phase that could generate "generational wealth," particularly in altcoins. Let's dive into the key insights around SwissBorg, altcoin season, and what to expect in this cycle.

加密市场对多年牛市的预测嗡嗡作响，而瑞士的亚历克斯·法兹尔（Alex Fazel）是最支持的支持者之一。他认为，我们正在进入一个可以产生“世代财富”的阶段，尤其是在Altcoins中。让我们深入了解瑞士堡，替代赛季节以及在这个周期中的期望。

The 2025-2026 Crypto Altcoin Cycle: A Historic Opportunity?

2025-2026加密奶油级别循环：一个历史性的机会？

Fazel frames this period as a unique convergence of a strengthening business cycle, easing monetary policy, and tech booms in crypto/Web3 and AI. This echoes the post-dot-com recovery, suggesting substantial growth potential.

Fazel将这一时期视为加强商业周期，轻松货币政策以及Crypto/Web3和AI中的技术繁荣的独特融合。这回应了点后恢复，表明了巨大的增长潜力。

His thesis revolves around a familiar market rotation: Bitcoin leads, followed by Ethereum and large-cap coins, and then a broader surge into mid- and small-caps as Bitcoin dominance declines. He emphasizes that we haven't yet reached the euphoric stage, which he considers a statistically common feature of bull cycles.

他的论文围绕着熟悉的市场轮换：比特币领先，其次是以太坊和大型硬币，然后随着比特币优势的下降，更广泛地向中型和小型股涌入。他强调，我们尚未达到欣快的舞台，他认为这是牛周期统计上常见的特征。

Measuring the Cycle: Beyond Time, Look at Market Cap

测量周期：超越时间，查看市值

Instead of focusing solely on time, Fazel suggests gauging cycle magnitude by total crypto market capitalization. He references previous cycles (45x from 2014-2017 and 27x into 2021) to infer a potential 2x-3x increase from the last cycle's $3 trillion peak, implying a $6-$9 trillion total capitalization. Reaching this level, along with the presence of market-wide euphoria, would signal a potential exit point.

Fazel并非仅专注于时间，而是建议通过总加密市值来测量周期幅度。他提到了以前的周期（2014-2017和27倍至2021年），以推断出与上一个周期3万亿美元峰值的潜在2倍 - 3倍，这意味着总资本化了6至9万亿美元。达到这一水平，以及整个市场的欣快感，将表明潜在的出口点。

DeFi Dominance and the Power of Buybacks

Defi优势和回购的力量

Fazel's team identified tokens that outperformed Bitcoin over a sustained period (September 2024 to September 2025), revealing DeFi and exchange-related assets as leaders. Virtuals (AI-agent), Hyperliquid's HYPE, Sui (with its DeepBook DEX), Curve, Ethena Labs, SwissBorg's BORG, and Raydium stood out. His conclusion? "DeFi is the best sector to invest in," with exchange tokens consistently showing resilience due to their clear utility in speculation and fee generation.

Fazel的团队确定，代币在持续的时期（2024年9月至2025年9月）胜过比特币，揭示了与DEFI和与Exchange相关的资产作为领导者。 Virtuals（Ai-Agent），超流动性的炒作，SUI（及其深书DEX），Curve，Ethena Labs，Swissborg的Borg和Raydium脱颖而出。他的结论？ “ Defi是最佳投资的部门”，由于其在投机和收费产生的清晰效用，交换令牌始终表现出弹性。

He highlights a positive correlation between top token performers and sustained buyback programs, drawing parallels to the equity market. However, he cautions that buybacks can be negated by excessive token emissions. It is important to understand the relationship between buybacks and emissions.

他强调了顶级表演者与持续的回购计划之间的正相关关系，这与股票市场相似。但是，他警告说，回购可以通过过多的令牌排放而否定。了解回购和排放之间的关系很重要。

The Four Quadrants of Token "Pumpamentals"

令牌的“泵浦”的四个象限

Fazel proposes a framework for evaluating tokens: clear utility, loyalty via locking mechanisms, strong and sustainable buybacks, and token burns to reduce supply. He argues that Layer-1s often lack the full set of these attributes, relying on inflationary issuance. Exchange tokens and some DeFi assets, particularly those with fee-linked buybacks, can potentially check all the boxes.

Fazel提出了一个评估令牌的框架：清晰的效用，锁定机制的忠诚度，强大而可持续的回购以及令牌燃烧以减少供应。他认为，第1层通常缺乏这些属性的完整集，依靠通货膨胀发行。交换代币和一些Defi资产，尤其是那些有收费回购的资产，可能会检查所有盒子。

SwissBorg's Strategy: BORG Token and Community Focus

瑞士堡的策略：博格令牌和社区重点

SwissBorg, with over 300 employees and $2.4 billion in assets under management, has adopted a 50% revenue-to-buyback policy for its BORG token. The company strategically delisted from centralized exchanges to control supply and concentrate liquidity within its app.

瑞士堡拥有300多名员工和24亿美元的管理资产，已为其Borg代币采用了50％的收入对购买政策。该公司从策略性地从集中式交流中脱颖而出，以控制其应用程序中的供应并集中流动性。

Risk Management and the Altcoin Landscape

风险管理和Altcoin景观

Fazel emphasizes risk management, urging investors to think probabilistically and be willing to sell underperforming tokens. He dismisses dilution fears caused by the sheer number of new tokens, noting that very few achieve meaningful size.

Fazel强调风险管理，敦促投资者概率地思考，并愿意出售表现不佳的代币。他驳斥了由于新的代币数量而引起的稀释恐惧，并指出很少有人实现有意义的规模。

Ethereum's Potential Surge and Altcoin Considerations

以太坊的潜在激增和Altcoin考虑

While altcoins present opportunity, Ethereum's potential surge toward $6,800 could signal broader capital flows into the crypto market. It's important to consider both the established players and emerging projects.

尽管Altcoins存在机会，但以太坊的潜在激增向6,800美元来说可能会表明更广泛的资本流入加密货币市场。重要的是要考虑已建立的参与者和新兴项目。

Final Thoughts

最后的想法

The potential for a significant altcoin season is definitely exciting, and Alex Fazel's insights offer a valuable framework for navigating the market. Keep an eye on DeFi, assess those "pumpamentals," and always manage your risk. Who knows, maybe we'll all be sipping champagne on our yachts in 2026, courtesy of some well-chosen altcoins. Cheers to that!

巨大的Altcoin季节的潜力绝对令人兴奋，Alex Fazel的见解为导航市场提供了宝贵的框架。密切关注Defi，评估这些“泵送”，并始终管理您的风险。谁知道，也许我们所有人在2026年都在我们的游艇上品尝香槟，这是由一些精心挑选的山寨币提供的。欢呼！