VanEck Analyst Forecasts Crypto Market Trends for 2025

Analyst Matthew Sigel and his colleagues at investment firm VanEck have outlined their forecasts for the dynamics of the crypto market in 2025.

VanEck ?10 Crypto Predictions for 2025

Prediction #1: Crypto bull market hits a medium-term peak in Q1, sets new highs in Q4. We project Bitcoin to be valued at around $180,000, Ethereum to trade above $6,000, Solana to exceed $500, and Sui to surpass $10.

— VanEck (@vaneck_us) December 13, 2024

He suggested that the bull cycle will continue, reaching a medium-term peak in the first quarter of 2025. This will be followed by a downturn: Bitcoin could lose up to 30% of its price, and altcoins up to 60%.

By the end of the year, the market will update its ATH. Bitcoin will trade at $180,000, Ethereum will exceed $6,000, Solana will surpass $500, and Sui will go beyond $10.

Government and Corporate Adoption

Sigel believes that the US will establish a Bitcoin reserve, and the government will become more accommodating towards cryptocurrencies. 

“At the federal level, this is likely to occur through a presidential directive utilizing the Treasury’s Exchange Stabilization Fund (ESF). […] State governments may act independently, viewing Bitcoin as a hedge against fiscal uncertainty or as a tool to attract crypto investments and innovation,” he noted.

The new leadership of the SEC will approve numerous spot exchange-traded products on crypto assets. For Ethereum-ETP, staking will be implemented.

“The repeal of SAB 121 by the Commission or Congress will allow banks and brokers to hold cryptocurrency in spot accounts, further integrating digital assets into the traditional financial infrastructure,” the analyst emphasized.

The share of crypto projects with developers in the US will grow from 19% to 25%. By the end of 2025, the contribution of American miners to the global hashrate will reach 35%.

The number of countries mining Bitcoin using government resources will increase from seven to “double digits.” According to Sigel, this will be facilitated by interest from BRICS participants and Russia’s intentions to use cryptocurrencies in international settlements. 

He believes that over the next year, the number of companies holding Bitcoin on their balance sheets will grow from the current 68 to 100.

Tokenized Securities

VanEck analysts believe that in 2025, the total value of tokenized assets will exceed $50 billion.

In 2024, this niche grew by 61%, reaching $12 billion. Most of the value is concentrated in private blockchains. Experts predict a boom in the issuance of such assets on public networks next year.

“Cryptocurrency infrastructure offers a better financial system through greater transparency, decentralization, and increased efficiency. We believe that 2025 will be the year of the rise of tokenized securities,” Sigel noted.

He also suggested that Coinbase might list its COIN shares on the BASE blockchain, creating a significant precedent for other projects.

Stablecoins

Stablecoins will become a key part of global trade, according to VanEck.

Analysts predict that by the end of 2025, the daily transaction volume will reach $300 billion — three times the figure of around $100 billion in November 2024.

The use of stablecoins by large corporations and payment providers will be an additional driver of growth for this asset class.

“Despite all the talk about blockchain adoption, stablecoins are its Trojan horse,” Sigel emphasized.

Bitcoin L2

Analysts suggested that the TVL of Bitcoin L2 projects will reach 100,000 BTC, based on a 600% growth to 30,000 BTC over the past year.

“This rapid growth reflects strong demand from BTC holders seeking yields and broader applicability for their assets. Bitcoin will also become an integral part of DeFi as chain abstraction technology and L2 solutions turn into useful products for end-users,” the expert noted.

According to VanEck specialists, the first cryptocurrency will transform from a passive savings asset into a participant in decentralized ecosystems.

Development of Blob Space in Ethereum

VanEck specialists believe that in 2025, the popularity of using Blobspace will grow. The total fees for the year will reach $1 billion.

The increase in activity will be driven by rollup optimization and reduced fees for data publication on the network. Other factors will include the widespread adoption of L2 on Ethereum and the popularization of special transactions with high fees and security requirements.

Prospects for DeFi, dapp, and NFT

In 2025, the DeFi market will reach a peak with $4 trillion in trading volume on DEX and $200 billion TVL. Analysts see AI tokens, user dapps, and tokenized assets as the main growth drivers.

Application tokens will approach the performance of L1 coins, which led with a twofold advantage in 2024. The industry’s popularity will grow due to new projects in AI and DePIN niches. 

NFT trading volumes will partially recover, returning to the $30 billion level. 

“While NFT transaction amounts may not reach the euphoric highs of previous cycles, we believe an annual turnover of $30 billion (55% of the 2021 peak) is possible. The market is shifting from speculative hype to sustainability and cultural significance,” Sigel noted.

According to experts, popular projects like CryptoPunks and Bored Ape Yacht Club will benefit the most from the segment’s recovery.

Ethereum will remain the leader in the NFT sector. By the end of 2025, the ecosystem’s share of total trading volume will grow from 71% to 85%.

Integration of the Crypto Market with AI

Analysts believe that in 2025, the popularity of AI agents — bots that will, for example, develop strategies for trading or attracting audiences on social media — will grow. 

Services that allow ordinary users to create on-chain agents will spur the development of this niche.

“Currently, AI agent creators are focused on DeFi, but we believe they will go beyond financial activities,” Sigel added.

According to VanEck specialists, 1 million new AI agents will emerge in 2025.

Back in April, Fundstrat co-founder Tom Lee predicted Bitcoin’s rise to $250,000 in 2025.