——In-depth analysis of potential winners in the cryptocurrency market over the next two years
As the outline of the cryptocurrency market in 2025 becomes clearer, a new wave of wealth is brewing. From breakthroughs in underlying technologies to the explosion of application scenarios, from the improvement of the regulatory framework to the reconstruction of capital flows, the cryptocurrency community is undergoing a profound paradigm shift. In this "Spring Festival Gala of Wealth", who will be the protagonist in the spotlight? This article will combine technology trends, ecosystem development and market sentiment to explore core opportunities in the next two years.
### **1. Layer2 track: the ultimate winner in the expansion war**
In 2025, the Layer2 competition in the Ethereum ecosystem will enter the final stage. With the completion of the EIP-4844 upgrade and the significant reduction in DA layer costs, projects with **modular architecture** and **native liquidity advantages** will dominate the market.
- **Starknet**'s Cairo language ecosystem has formed a moat for developers, and its ZK-Rollup solution has significant advantages in gaming and high-frequency trading scenarios
- **Metis** is building the underlying protocol for the DAO economy with a decentralized sorter and MEME incentive model
- Dark horse opportunity: Customized Layer3 network focusing on vertical fields (such as derivatives, RWA)
### **2. DeFi 3.0: Dual engines of derivatives and RWA**
The entry of traditional financial giants will drive explosive growth in the on-chain derivatives market, and the tokenization of real-world assets (RWA) may become a trillion-dollar track:
- dYdX V4's full-chain order book model is disrupting the centralized exchange landscape
- **Mantle** creates a positive flywheel through high-yield treasury + liquidity pledge
- RWA track focuses on **Ondo Finance** (U.S. debt tokenization) and **LandX** (agricultural land income token)
### **3. GameFi game-changer: rebalancing playability and economic model**
Axie Infinity’s cyclical dilemma reveals the flaws of the P2E model. The GameFi dark horse of 2025 needs to have:
✅ AAA game quality
✅ Dynamic inflation control mechanism
✅ Cross-chain asset interoperability
Focus on **Parallel** (sci-fi card blockchain game) and **Illuvium** (open world RPG), whose token economic design has introduced hedge fund-level risk control models.
