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cover of episode Pro Crypto: 2025 Market Outlook by Coinbase ft. David Duong

Pro Crypto: 2025 Market Outlook by Coinbase ft. David Duong

2025/1/15
logo of podcast Real Vision: Finance & Investing

Real Vision: Finance & Investing

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David Duong: 我对2025年第一季度的市场持乐观态度,但随着年份推移,情况可能会发生变化。加密货币已成为一个稳固的资产类别,拥有真正的持久力,这在过去是不明确的。Coinbase的市场展望基于宏观经济因素、高确定性主题(如稳定币和代币化)以及长期主题(如去中心化物理基础设施和AI代理)。美国大选的结果对财政政策(关税、放松管制、减税)和加密货币的监管环境有重大影响。美国更大的财政赤字将支持以美元计价的资产,包括加密货币。美联储在2025年的降息幅度将取决于美国经济的强劲程度。我预计2025年美国对加密货币的监管环境将积极发展。美国国会对加密货币的支持度很高,这有利于加密货币立法。加密货币已成为一个更具两党共识的问题,而非党派问题。去中心化物理基础设施(D-PIN)正在复苏,并可能在未来几年内被广泛采用。人工智能代理的兴起可能对加密货币行业产生变革性影响。资产代币化,特别是稳定币和真实世界资产的代币化,预计将在未来五年内大幅增长。稳定币立法将在2025年取得进展,但需要协调全球不同的监管框架。美国监管环境的变化将有利于去中心化金融(DeFi)的复苏。改进的用户界面/用户体验(UI/UX),如账户抽象和智能钱包,对于加密货币的大规模采用至关重要。比特币和以太坊将在2025年继续增长,部分原因是ETF的批准和潜在的战略储备采用。虽然ETF可能会限制加密货币的去中心化,但它们也可能通过增加机构投资来促进市场增长。BASE链在以太坊生态系统中扮演着重要的角色,并通过其应用和身份验证功能促进加密货币的采用。2024年的加密货币资产之间相关性较低,表明比特币仍然是一个有效的多元化投资工具。Coinbase 50指数提供了一种获取加密货币市场广泛领域敞口的途径。私募债券的代币化正在迅速增长,并可能改变机构投资者的运作方式。Telegram 机器人在2024年成为加密货币领域的主要盈利中心,这反映了模因币交易活动的增长。加密货币游戏正在从“边玩边赚”模式转向更具选择性的加密货币集成模式,这可能会吸引更广泛的玩家群体。去中心化身份和不断变化的分层架构(Layer 1、Layer 2和Layer 3)将对加密货币行业产生重大影响。 Ash Bennington:

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Coinbase sees "transformative growth" for the crypto space in 2025—but what does that exactly mean? Ash Bennington asks David Duong, the crypto exchange's head of research at Coinbase Institutional, about his report into the crypto universe. They cover the macro landscape, bitcoin, altcoins, ETFs, stablecoins, tokenization, AI agents, and much more. Expect a chart bonanza and a detailed breakdown of insights from one of the world's largest crypto exchanges. You can read the whole report from Coinbase here: https://www.coinbase.com/institutional/research-insights

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