Organizing: Deep Tide TechFlow.
As 2024 comes to a close, 2025 will arrive with anticipation.
Amid the hype of the bull market, major global crypto institutions are releasing their market outlook for 2025. According to published content, institutions generally believe 2025 will be a key year for the crypto market: Bitcoin is expected to break the $200,000 mark, crypto assets will further move towards mainstream adoption, and several crypto unicorns may list on U.S. stock exchanges.
Notably, many institutions expect that 2025 will mark the peak of this bull market cycle, with inflows into Bitcoin ETFs, traditional financial institutions opening up crypto asset allocation, and AI-enabled innovative applications becoming important driving forces for market development.
Let's review the core predictions of various institutions for the crypto market in 2025.
VanEck: The crypto market will reach new highs by the end of 2025, with the NFT market recovering.
The crypto bull market is expected to reach a mid-term peak in the first quarter and set new highs by the end of the year;
The U.S. embraces Bitcoin further through strategic reserves and policy support;
The total value of tokenized securities exceeds $50 billion;
The daily trading settlement volume of stablecoins reaches $300 billion;
The on-chain activity of AI agents exceeds 1 million;
The total locked value (TVL) of Bitcoin's second-layer network reaches 100,000 BTC;
The Blob space fee revenue of Ethereum reaches $1 billion;
DeFi trading volume reaches a new high of $4 trillion, with total locked value reaching $200 billion;
The NFT market rebounds, with annual trading volume reaching $30 billion;
The performance of decentralized application (DApp) tokens gradually catches up with mainstream public chain tokens.
Bitwise: Bitcoin breaks $200,000, Ethereum surpasses $7,000.
Bitcoin, Ethereum, and Solana will reach historical new highs, with Bitcoin trading prices exceeding $200,000;
The inflow of Bitcoin ETFs in 2025 will surpass that of 2024;
Coinbase will surpass Charles Schwab to become the world's most valuable brokerage, with its stock price breaking $700 per share;
2025 will be the 'Year of Crypto IPOs', with at least five crypto unicorns listing in the U.S.;
Tokens issued by AI agents will lead to a larger-scale meme coin craze than in 2024;
The number of countries holding Bitcoin will double;
Coinbase will enter the S&P 500 index, and MicroStrategy will enter the Nasdaq 100 index, adding cryptocurrency exposure to (almost) every American investor's portfolio;
The U.S. Department of Labor will relax restrictions on cryptocurrencies in 401(k) plans, allowing hundreds of billions of dollars to flow into crypto assets;
With the U.S. passing the long-awaited stablecoin legislation, the scale of stablecoin assets will double to $400 billion;
As Wall Street's acceptance of cryptocurrencies deepens, the value of Real World Asset (RWA) tokenization will exceed $50 billion.
Coinbase: The stablecoin market will continue explosive growth.
Macro:
Federal Reserve monetary policy will loosen, potentially providing a favorable backdrop for the development of the cryptocurrency market;
The new U.S. Congress will bring a clearer regulatory environment for the cryptocurrency industry and may introduce a 'strategic Bitcoin reserve';
Bitcoin and Ethereum ETFs will reshape the market ecosystem, and ETFs covering more assets may emerge in the future;
The stablecoin market will continue explosive growth and may extend to global capital flows and commercial payments;
RWA will further optimize the portfolio construction and management processes;
The DeFi ecosystem is expected to recover and further integrate with traditional finance.
Disruption:
Telegram trading bots have become one of the most profitable cryptocurrency applications;
The performance of prediction market platforms far exceeds traditional polls, showcasing the unique advantages of blockchain technology;
Crypto games are shifting from 'earning' to providing high-quality gaming experiences, lowering the entry barrier for new users;
The decentralized physical infrastructure network (DePIN) model is expected to solve the problem of physical resource allocation, but long-term income sustainability needs to be assessed;
The application of AI in the crypto space is continuously exploring, but how to convert its value into sustainable liquidity tokens remains a challenge;
The multi-chain ecosystem may become the main pattern of the future, with differentiated advantages allowing coexistence and development;
Improving user experience, including streamlining registration processes, optimizing wallet functions, and enhancing cross-chain experience, is one of the key factors driving the adoption of crypto technology;
Decentralized identity authentication helps meet regulatory requirements and will become a core element of future on-chain experiences.
Hashed: Asia will become the core engine of blockchain innovation and adoption.
Hashed believes that 2025 will mark the true entry of blockchain into a stage of large-scale adoption, with Asia becoming the core engine of blockchain innovation and adoption, and the technology-friendly environment in Asian markets will drive innovative consumer experiences;
Stablecoins will increasingly integrate into traditional markets;
Smart creators will continuously generate high-quality content, and the future will be dominated by intelligent entities (AI AGENTS) that convert user attention into economic value through smart contracts. This mechanism will redistribute profits to token holders, building a self-reinforcing attention economy system;
Blockchain can ensure data ownership and provenance tracking, protect privacy while securely using sensitive data, and incentivize data sharing through transparent economic models. Notably mentioned are Zettablock and Story Protocol;
The next wave of growth in blockchain technology will be driven by consumer-centric applications that will make the user experience of crypto technology as simple and smooth as traditional applications;
Telegram and TON's open ecosystem is still in its early stages, with rapid user growth but low activity and retention rates. Compared to WeChat's centralized ecosystem, Telegram and TON face infrastructure shortcomings and need to establish a middle layer to enhance platform scalability and support ecosystem development.
Blockworks: The ICO model will make a comeback, with Base becoming a dark horse.
The U.S. will re-emerge as the core center of global cryptocurrency;
More than 10 DeFi protocols will officially launch fee switches, including Uniswap;
DeFi protocols will gradually adopt rehypothecation of customer assets as a new business model;
The debate within the Ethereum community regarding the 'North Star' roadmap will reach a conclusion, ultimately reaffirming the roadmap centered around Rollups, while Max's scaling proposal will fail to gain sufficient support. This outcome will bring much-needed cohesion to the Ethereum community and improve overall market sentiment;
ETH token prices are expected to perform strongly;
Rollup-based solutions will still find it difficult to achieve significant breakthroughs in 2025;
Trusted Execution Environments (TEEs) will gradually become an important component of L2 infrastructure and ultimately become a permanent feature;
Solana's development momentum will continue in this cycle, but issues will gradually emerge by 2025;
The Firedancer client will officially go live in the fourth quarter, at which point Solana's network will achieve a processing capacity of 100,000 TPS;
Solana may adjust its token issuance policy to reduce inflation, while Ethereum will not make similar changes;
Base will become a dark horse in the Rollup ecosystem and a major competitor to Solana;
Base will also become the preferred chain for AI agents and other AI applications;
Stablecoins will gradually become the dominant asset on L2 networks, with their number expected to reach more than twice that of ETH; the stablecoin market will see breakthrough growth in the next year;
More than 5 large fintech companies or traditional financial institutions will launch their own stablecoins in 2025;
More than 10 enterprises (including banks and Web2 giants) will launch their own L2 networks in 2025;
With a large user base and strong brand influence, Robinhood will become one of the dominant forces in the industry by 2025;
Investment opportunities in L1 blockchains still exist and will not disappear in the short term;
The ICO model will make a comeback but will not dominate like it did in 2017;
Crypto companies will welcome a window for IPOs, but there will not be a large-scale listing tide;
The mainstream trend of 2025 will be the combination of AI and crypto;
The application scenarios for AI will become more diverse, not limited to agents;
TikTok's influence in the crypto space will reach unprecedented heights;
Bitcoin's L2 solutions will still find it difficult to achieve breakthroughs in 2025.
DeFiprime: Deep integration of DeFi and AI, with the market reaching a cycle peak in 2025.
Clarification of the regulatory environment;
DeFi and Web3 may return to the U.S.;
Stablecoins will become the main force in the payment sector;
The market may reach a cycle peak in 2025;
Ethereum will continue to explore new development narratives;
The token craze sweeps Web3;
Shift in focus of crypto infrastructure investment;
Deep integration of DeFi and AI;
New token distribution and fundraising models;
NFT 2.0: Moving towards dynamism and efficiency.
Messari: Base and Solana will continue to dominate DEX market share;
The macro environment will provide strong support for crypto assets, with institutional participation deepening and broadening, no longer viewing crypto merely as an investment asset but beginning to appreciate its financial infrastructure potential;
The inflow of Bitcoin ETFs has greatly exceeded expectations, and over time, institutions are likely to gradually become the main driving force behind daily BTC price trends;
The Ethereum Layer 2 ecosystem will have advantages over Layer 1, facing two value capture paths: a token valuation model based on 'security demand' and enhanced fee capture through native Rollups;
The development of Solana is expected to surpass pure speculative application scenarios, potentially launching a spot Solana ETF, and the AI x Crypto domain will continue to lead Solana's ecological innovation;
Base and Solana will continue to dominate DEX market share;
Prediction markets and RWA will continue to develop;
AI agents may surpass traditional meme coins, becoming new speculative hotspots;
Mobile applications will become a decisive trend, with Solana continuing to dominate meme coin trading activities;
Exchanges will accelerate the integration of on-chain and off-chain services, and the new government may relax restrictions on listing coins on exchanges.
Framework Co-founder: The inflow of funds into Ethereum and Bitcoin ETFs will reach the same level.
Trump will establish a new global currency framework similar to the Plaza Accord of 1985. This framework will promote a significant depreciation of the dollar, facilitating the return of manufacturing to the U.S., while directing liquidity towards the U.S. market and high-risk asset markets like cryptocurrencies;
Major armed conflicts globally are expected to end in the first half of 2025, ushering in an optimistic era of peace and security;
The inflow of funds into Ethereum (ETH) and Bitcoin (BTC) ETFs will reach the same level in the second half of 2025, with daily inflow amounts reaching $1 billion respectively. This trend is primarily due to the launch of composite ETFs;
The listing plans for crypto ETFs other than Bitcoin and Ethereum will be postponed until 2026;
The combination of gaming and artificial intelligence (AI) will become the vertical field with the highest user volume (MAUs/DAUs), benefiting from significant improvements in gaming experience and interaction through AI technology;
Memecoins will be segmented into multiple categories, including ephemeral, AI-driven, factory-produced, and large-cap types, with market differentiation intensifying, but competition remains fierce;
The total fee revenue of decentralized finance (DeFi) is expected to exceed $10 billion in 2025, while the supply of stablecoins is expected to reach $500 billion by the end of the year;
The assets of large banks are beginning to be tokenized, a trend that will significantly reduce resource waste in the U.S. financial system and improve efficiency.
