Dragonfly Managing Partner Releases Predictions for 2025 in Six Key Areas: The Distinction Between L1 and L2 is Disappearing, EVM Market Share Will Still Grow.

PANews reported on January 1 that Haseeb Qureshi, Managing Partner of Dragonfly, released predictions for cryptocurrency in 2025, divided into six parts: L1s/L2s, token release, stablecoins, regulation, AI agents, crypto x AI.

1. L1/L2.

The distinction between L1 and L2 is disappearing. Users can no longer perceive the differences between L1 and L2. Although SVM and Move are strong, EVM's market share will actually grow by 2025. Solana will push more blockchains to optimize for low latency.

2. Token release.

The era of large-scale airdrops through points programs for everyone has ended, moving towards a dual-track world.

First track: If a project has clear metrics, such as exchanges or lending protocols, they will distribute tokens entirely based on points.

Second track: Projects without clear metrics (like L1 and L2) will turn to crowdfunding. They may conduct small-scale airdrops to reward social contributions, but most tokens will be distributed through crowdfunding.

Memecoins will continue to compete for market share against 'AI agent' coins.

3. Stablecoins.

The use of stablecoins will surge, especially among small and medium-sized enterprises. Not just for trading and speculation, real businesses will start using on-chain dollars for instant settlements. By the end of 2025, banks are expected to announce the issuance of stablecoins. They don’t want to fall behind. But especially with Lutnick serving as Secretary of Commerce, Tether will remain in the first position. Ethena Labs is expected to attract more capital, especially as treasury yields continue to decline over the next year.

4. Regulation.

The U.S. has passed stablecoin legislation, while broader market infrastructure reforms (FIT21) have been postponed. The adoption of stablecoins is accelerating, while Wall Street’s adoption, asset tokenization, and other TradFi integrations will lag behind. Under Trump's leadership, Fortune 100 companies will be more willing to offer cryptocurrency to consumers, with tech companies and startups showing a higher risk appetite.

5. AI agents.

The AI agent craze may continue until 2025, but will ultimately fade.

6. The actual combination of cryptocurrency and AI.

The influence of AI on cryptocurrency is a primary direction, but cryptocurrency will also impact AI; truly autonomous agents will make payments to each other using cryptocurrency. Once there are relaxed stablecoin regulations, you will start to see even large companies running AI agents using stablecoins for agent-to-agent payments, as they are easier to initiate than bank accounts; there will also be more large-scale decentralized training and inference experiments.