Investment Opportunities in 2025 from the Perspective of Blockchain Researchers

In 2025, the blockchain industry will undergo a series of significant transformations. Ethereum's dominance may decline, with its market share potentially dropping to around 30%. The competition in the smart contract platform sector will become increasingly fierce, making it difficult for any one platform to dominate. Emerging public chains like Sui, Solana, and Injective are expected to gain more market attention due to their respective advantages.

In mature sectors, there is still significant room for innovation. Taking stablecoins as an example, Ethena shows promising development prospects through innovative models and risk management. The innovative practices in the three foundational sectors of exchanges, stablecoins, and public chains are worth paying close attention to.

Real community building is crucial for projects. A few NFT projects like Azuki have successfully built unique community narratives, showcasing strong vitality. Projects with a solid community foundation may perform exceptionally well in future markets.

The rise in Bitcoin prices has driven the entire crypto market, but the capital redistribution has not yet fully occurred. By 2025, capital is expected to flow towards public chains like Ethereum, Solana, and Layer 2 projects. Ethereum faces challenges but still maintains scale advantages, and the launch of ETFs has injected new momentum. Solana is quickly catching up with its high performance and active ecosystem.

The Restaking ecosystem will further expand. In addition to Ethereum, the Bitcoin and Solana ecosystems will also become important battlegrounds for Restaking development. The competition among infrastructure providers such as EigenLayer, Symbiotic, and Karak will become increasingly intense.

Among emerging projects, Ethena and Mantle are worth paying attention to. Ethena has achieved rapid growth through its unique high-yield strategy and the stablecoin USDe. Mantle continuously enhances its influence through technological innovation and ecological expansion.

Trading of on-chain small and medium market cap assets will become an important catalyst for attracting scattered funds. The proportion of DEX trading volume relative to CEX may continue to rise, and new narratives and project construction methods will continue to emerge.

The AI Agent craze continues, but only a few truly valuable projects can survive in the long run. The combination of DeFi and AI Agents may become the most promising development direction.

The DeFi sector may be on the verge of a revival, with the application of the fee switch model being key. The improvement of the regulatory environment has created conditions for the revaluation of DeFi tokens. Well-known protocols like ENA and UNI are actively exploring the implementation of revenue-sharing mechanisms.

Hyperliquid's success sets a new standard for Web3 projects, driving the industry towards a more fair and transparent direction. Community-based funding models and large-scale airdrop strategies may become popular again. By 2025, the blockchain industry is expected to make significant progress in achieving decentralized value creation and fair participation.