The study projects a milestone for Dogecoin, new partnerships between DeFi and TradFi, and warns of ETH staking reaching 50% of the total supply.
Galaxy Digital's research division, known as Galaxy Research, has shared its predictions for the cryptocurrency market in 2025. The announcement was made last Friday (27) via the X platform, bringing detailed projections for assets such as Bitcoin, Ethereum and Dogecoin.
According to Galaxy Research, Bitcoin's price has the potential to reach US$ 150,000 during the first half of 2025, and could surpass the US$ 185,000 mark in the following months, starting in the fourth quarter. To support this expectation, the team highlighted several factors that should drive the market for the leading cryptocurrency, with an emphasis on the "combination of institutional, corporate and nation-state adoption".
Galaxy Research explained that, historically, the Bitcoin has shown a greater capacity for appreciation than other asset classes, such as the S&P 500 index and gold. "This trend is expected to continue in 2025, with Bitcoin reaching 20% of gold's market value," said the report. The asset's behavior over the years reinforces the expectation that it will continue to attract institutional investors and consolidate its position as a store of value.
Currently, the price of Bitcoin is US$ 94,694.88, showing a drop of 2.3% in the last 24 hours. Despite this short-term volatility, Galaxy's forecasts indicate an optimistic long-term scenario.
In the case of Ethereum, the second largest cryptocurrency by market capitalization, the projections are also encouraging. The study suggests that the asset could exceed US$ 5,500 by 2025. This will be possible due to the relaxation of regulatory pressures on decentralized finance (DeFi) and staking, as well as the strengthening of partnerships between DeFi and traditional finance (TradFi).
The research team noted that corporations should increasingly explore second-layer networks based on Ethereum, encouraging innovation and the expansion of the ecosystem. Games using public blockchain have the potential to find a perfect fit between product and market, while the NFT market (non-fungible tokens) could experience a significant upturn in trading volumes.
Another important point mentioned in the study is the increase in demand for staking, which is expected to continue growing until the end of 2025. Galaxy Research believes that more than 50% of Ethereum's circulating supply could be in staking by then. This trend could lead Ethereum network developers to consider adjustments to their monetary policy to balance the interests of the community and sustain the network's growth.
At the moment, Ethereum is quoted at US$ 3,353.50, with a devaluation of 1.8% in the last 24 hours. Despite the current performance, forecasts suggest that the asset has a promising future, driven by technological evolution and corporate adoption.
Finally, Galaxy Research has presented a bold forecast for Dogecoin (DOGE), the cryptocurrency widely popularized by Elon Musk. According to the report, Dogecoin could finally reach a price of US$ 1, reaching a market capitalization of US$ 100 billion. This milestone would be historic for the cryptocurrency, consolidating its position in the market.
However, the report warns that Dogecoin still faces challenges. Although the cryptocurrency could reach new heights, its market capitalization will be overshadowed by other advances in the sector, such as government initiatives aimed at efficiency. "Dogecoin's market capitalization will be eclipsed by the Department of Government Efficiency, which will identify and implement cuts in amounts above Dogecoin's market cap," the study highlighted.
Dogecoin is currently trading at US$ 0.31, down 1.3% in the last 24 hours, according to data from Coingecko. Despite the modest performance, the forecast for 2025 suggests a more optimistic future for memecoin.
These forecasts from Galaxy Research reflect a scenario of continuous evolution for the cryptocurrency market. Increased institutional adoption, integration with traditional finance and technological advances play crucial roles in this context. Although the cryptocurrency market is notoriously volatile, the long-term trend indicates that digital assets will continue to play a significant role in the global financial future. The optimistic outlook for Bitcoin, Ethereum and Dogecoin is a reflection of the growing confidence in innovation and the widespread adoption of cryptocurrencies.