Dragonfly partners released six predictions for the crypto industry in 2025, covering L1/L2, coin issuance, AI agents, etc.

Odaily News Report: Dragonfly Managing Partner Haseeb Qureshi released predictions for cryptocurrencies in 2025, divided into six parts: L1/L2, token issuance, stablecoins, regulation, AI agents, and the integration of crypto and AI. 1. L1/L2 - The distinction between L1 and L2 is disappearing. Users can no longer perceive the difference between L1 and L2. The blockchain field (L1 and L2 combined) is already overcrowded and is about to undergo a major reshuffle. Integration will no longer be about technological advantages, but about having a unique niche market and building stickiness through GTM. 2. Token Issuance - The meta of massive airdrops through loyalty programs has ended, and we are moving towards a two-track world: 1) Projects with a clear North Star metric will distribute tokens entirely based on loyalty; 2) Projects without a clear North Star metric (such as L1 and L2) will turn to crowdfunding, and may do small-scale airdrops to reward social contributions, but most tokens will be distributed through crowdfunding. Meme coins will continue to cede market share to "AI agent" tokens, which I believe is a shift from financial nihilism to financial over-optimism. 3. Stablecoins - The use of stablecoins will surge, especially in SMEs. Not just for trading and speculation, but real businesses will start using on-chain US dollars for instant settlement. Banks have noticed this: by the end of 2025, we will see announcements of bank-issued stablecoins, as they don't want to fall behind. But especially with Lutnick as Commerce Secretary, Tether will still maintain the lead. 4. Regulation - The US will pass stablecoin legislation, while broader market infrastructure reform (FIT21) will be delayed. The adoption of stablecoins will accelerate, while Wall Street's adoption, asset tokenization, and other TradFi integration will lag. 5. AI Agents - The "AI agent" craze may continue until 2025, but it will ultimately fizzle out. These are not true agents, but chatbots with Meme coins attached. Except for posting on X, they have almost no agency functionality. The current "AI agents" also have humans behind the scenes to ensure the AI doesn't go out of control, and this won't change quickly as the current agents are too unstable. 6. Actual Crypto-AI Integration - AI will have an impact on cryptocurrencies, but cryptocurrencies will also impact AI. Truly autonomous agents will mutually transact with cryptocurrencies. Once there are lax 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 set up than bank accounts. We will also see more and larger-scale decentralized training and inference experiments. The intersection of cryptocurrencies and AI will also be in user experience, where post-AI wallets will fundamentally change, handling bridging, optimizing transaction routes, minimizing fees, and avoiding obvious scams or fraud.