#加密市场盘整
2025 Crypto Market Outlook
Coinbase recently released its outlook on the cryptocurrency market, highlighting five areas to watch in 2025:
1. Stablecoins are just getting started
Stablecoins have become a killer application in crypto, with a market value of 193 billion USD and a trading volume exceeding 27 trillion USD, a threefold year-on-year increase. It is expected that within five years, the market value could reach 3 trillion USD, with primary applications shifting from trading to global capital flows and business sectors.
2. RWA tokenization is expected to see significant growth
As of December 1, tokenized RWAs have increased to 13.5 billion USD, with rapid development expected in 2024, expanding applications to private credit, commodities, and more. Tokenized assets used as collateral can simplify transactions and reduce risks. In 2025, technological advancements and accumulated investments will drive tokenization to become the core of the crypto market.
3. Crypto ETFs have forever changed the supply-demand dynamics of cryptocurrencies
Following the success of the U.S. spot Bitcoin ETF, institutional holders have surged, driving stable demand growth in the crypto market. Other token ETFs may be approved in the future, but short-term demand is limited. If the SEC allows physical creation, redemption, or staking, it will enhance ETF returns and attract more investors.
4. The DeFi renaissance will propel it into a new era
DeFi has shown greater resilience after experiencing shocks, with lending protocol TVL reaching new heights and DEX trading volume hitting peaks. Optimized U.S. regulations and on-chain verification are paving the way for traditional institutions to enter, expanding the influence of DeFi, with a bright future ahead.
5. Regulation will ultimately shift from headwinds to tailwinds
The U.S. is entering the most crypto-friendly regulatory environment, with bipartisan support in Congress promoting a comprehensive regulatory framework, stablecoin legislation, and ending the era of enforcement-driven regulation. Meanwhile, G20 countries are accelerating the formulation of digital asset rules, creating conditions for innovation and growth. This will help make 2025 a breakthrough year for the crypto industry, laying the foundation for long-term development.
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