{"id":3378,"date":"2026-02-14T00:00:29","date_gmt":"2026-02-13T16:00:29","guid":{"rendered":"http:\/\/www.jineng168.com\/?p=3378"},"modified":"2026-02-14T00:00:29","modified_gmt":"2026-02-13T16:00:29","slug":"%e6%af%94%e7%89%b9%e5%b8%81%e6%ad%a3%e5%9c%a8%e4%b8%8e%e4%bc%a0%e7%bb%9f%e5%b8%82%e5%9c%ba%e8%84%b1%e9%92%a9%e5%90%97%ef%bc%9f","status":"publish","type":"post","link":"http:\/\/www.jineng168.com\/?p=3378","title":{"rendered":"\u6bd4\u7279\u5e01\u6b63\u5728\u4e0e\u4f20\u7edf\u5e02\u573a\u8131\u94a9\u5417\uff1f"},"content":{"rendered":"<h1 class=\"art_tit\">\u6bd4\u7279\u5e01\u6b63\u5728\u4e0e\u4f20\u7edf\u5e02\u573a\u8131\u94a9\u5417\uff1f<\/h1>\n<div class=\"content_text\">\n<p>\u539f\u6587\u4f5c\u8005\uff1aTanay Ved\u3001Victor Ramirez\uff0cCoin Metrics<\/p>\n<p>\u539f\u6587\u7f16\u8bd1\uff1aLuffy\uff0cForesight News<\/p>\n<p>\u5173\u952e\u8981\u70b9\uff1a<\/p>\n<ul class=\" 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\u5e74\u7684\u5386\u53f2\u4e2d\uff0c\u88ab\u8d4b\u4e88\u4e86\u8bb8\u591a\u6807\u7b7e\uff0c\u4ece \u300c\u6570\u5b57\u9ec4\u91d1\u300d \u5230 \u300c\u4ef7\u503c\u50a8\u5b58\u624b\u6bb5\u300d\uff0c\u518d\u5230 \u300c\u98ce\u9669\u504f\u597d\u8d44\u4ea7\u300d\u3002\u4f46\u5b83\u771f\u7684\u5177\u5907\u8fd9\u4e9b\u7279\u70b9\u5417\uff1f\u6bd4\u7279\u5e01\u4f5c\u4e3a\u4e00\u79cd\u6295\u8d44\u8d44\u4ea7\uff0c\u662f\u5426\u4e0e\u4f17\u4e0d\u540c\uff0c\u8fd8\u662f\u4ec5\u4ec5\u662f\u5e02\u573a\u4e0a\u73b0\u6709\u98ce\u9669\u8d44\u4ea7\u7684\u4e00\u79cd\u6760\u6746\u5316\u8868\u73b0\u5f62\u5f0f\u5462\uff1f<\/p>\n<p>\u5728\u672c\u671f\u7684\u300aCoin Metrics 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2022 \u5e74\u4e3a\u5e94\u5bf9\u4e0d\u65ad\u4e0a\u5347\u7684\u901a\u8d27\u81a8\u80c0\u800c\u8fdb\u884c\u7684\u6fc0\u8fdb\u52a0\u606f\u3002<\/p>\n<p>\u4e3a\u4e86\u89e3\u6bd4\u7279\u5e01\u5bf9\u8d27\u5e01\u653f\u7b56\u53d8\u5316\u7684\u654f\u611f\u5ea6\uff0c\u6211\u4eec\u5c06\u5176\u5386\u53f2\u5212\u5206\u4e3a\u4e94\u4e2a\u5173\u952e\u7684\u5229\u7387\u5236\u5ea6\u9636\u6bb5\u3002\u8fd9\u4e9b\u9636\u6bb5\u8003\u8651\u4e86\u5229\u7387\u7684\u8d70\u5411\u548c\u6c34\u5e73\uff0c\u8303\u56f4\u4ece\u5bbd\u677e\u578b\uff08\u8054\u90a6\u57fa\u91d1\u5229\u7387\u4f4e\u4e8e 2%\u00a0\uff09\u5230\u7d27\u7f29\u578b\uff08\u8054\u90a6\u57fa\u91d1\u5229\u7387\u9ad8\u4e8e 2%\u00a0\uff09\u3002\u7531\u4e8e\u5229\u7387\u53d8\u5316\u5e76\u4e0d\u9891\u7e41\uff0c\u6211\u4eec\u5c06\u6bd4\u7279\u5e01\u7684\u6708\u5ea6\u56de\u62a5\u7387\u4e0e\u8054\u90a6\u57fa\u91d1\u5229\u7387\u7684\u6708\u5ea6\u53d8\u5316\u8fdb\u884c\u6bd4\u8f83\u3002<\/p>\n<p class=\"ql-align-center\"><img 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\u5e74\u76f8\u5173\u6027\u6709\u6240\u98d9\u5347\uff0c\u4f46\u603b\u4f53\u4e0a\u4ecd\u4fdd\u6301\u5728\u8f83\u4f4e\u6c34\u5e73\uff0c\u8fd9\u8868\u660e\u6bd4\u7279\u5e01\u4e0e\u5b8f\u89c2\u653f\u7b56\u5b58\u5728\u4e00\u5b9a\u7684\u8131\u8282\u3002<\/p>\n<\/li>\n<li>\n<p>\u5bbd\u677e\u653f\u7b56   \u964d\u606f\uff082018 \u5e74 &#8211; 2022 \u5e74\uff09\uff1a\u4e3a\u5e94\u5bf9\u65b0\u51a0\u75ab\u60c5\uff0c\u8fd9\u4e00\u65f6\u671f\u5f00\u59cb\u4e86\u6fc0\u8fdb\u7684\u964d\u606f\u548c\u8d22\u653f\u523a\u6fc0\u63aa\u65bd\uff0c\u968f\u540e\u662f\u4e24\u5e74\u7684\u63a5\u8fd1\u96f6\u5229\u7387\u65f6\u671f\u3002\u6bd4\u7279\u5e01\u7684\u56de\u62a5\u7387\u53d8\u5316\u5f88\u5927\uff0c\u4f46\u504f\u5411\u4e8e\u6b63\u5411\u3002\u5728\u8fd9\u4e00\u65f6\u671f\uff0c\u76f8\u5173\u6027\u51fa\u73b0\u4e86\u5927\u5e45\u6ce2\u52a8\uff0c\u4ece 2019 \u5e74\u7684\u4f4e\u4e8e &#8211; 0.3 \u4e0a\u5347\u5230 2021 \u5e74\u7684   0.59\u00a0\uff0c\u4e4b\u540e\u53c8\u56de\u5230\u63a5\u8fd1\u4e2d\u6027\u7684\u6c34\u5e73\u3002<\/p>\n<\/li>\n<li>\n<p>\u7d27\u7f29\u653f\u7b56   \u52a0\u606f\uff082022 \u5e74 &#8211; 2023 \u5e74\uff09\uff1a\u4e3a\u4e86\u5e94\u5bf9\u98d9\u5347\u7684\u901a\u8d27\u81a8\u80c0\uff0c\u7f8e\u8054\u50a8\u5b9e\u65bd\u4e86\u5176\u6700\u5feb\u7684\u52a0\u606f\u5468\u671f\u4e4b\u4e00\uff0c\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u63a8\u9ad8\u81f3 5% \u4ee5\u4e0a\u3002\u5728\u8fd9\u4e00\u5236\u5ea6\u4e0b\uff0c\u6bd4\u7279\u5e01\u4e0e\u5229\u7387\u53d8\u5316\u4e4b\u95f4\u5448\u73b0\u51fa\u8f83\u5f3a\u7684\u8d1f\u76f8\u5173\u6027\u3002\u5728\u907f\u9669\u60c5\u7eea\u7684\u5f71\u54cd\u4e0b\uff0c\u6bd4\u7279\u5e01\u7684\u8868\u73b0\u75b2\u5f31\uff0c\u7279\u522b\u662f\u53e0\u52a0\u4e0a\u52a0\u5bc6\u8d27\u5e01\u9886\u57df\u7279\u6709\u7684\u51b2\u51fb\uff0c\u5982 2022 \u5e74 11 \u6708 FTX \u7684\u5012\u95ed\u3002<\/p>\n<\/li>\n<li>\n<p>\u7d27\u7f29\u653f\u7b56   \u964d\u606f\uff082023 \u5e74 &#8211; \u81f3\u4eca\uff09\uff1a\u968f\u7740\u4e09\u6b21\u9ad8\u4f4d\u964d\u606f\u7684\u5b8c\u6210\uff0c\u6211\u4eec\u770b\u5230\u6bd4\u7279\u5e01\u7684\u8868\u73b0\u4ece\u4e2d\u6027\u5230\u9002\u5ea6\u6b63\u5411\u3002\u8fd9\u4e00\u65f6\u671f\u8fd8\u51fa\u73b0\u4e86\u4e00\u4e9b\u50ac\u5316\u56e0\u7d20\uff0c\u5982\u7f8e\u56fd\u603b\u7edf\u9009\u4e3e\uff0c\u4ee5\u53ca\u8d38\u6613\u6218\u7b49\u51b2\u51fb\u4e8b\u4ef6\uff0c\u8fd9\u4e9b\u56e0\u7d20\u7ee7\u7eed\u5f71\u54cd\u7740\u6bd4\u7279\u5e01\u7684\u8868\u73b0\u3002\u76f8\u5173\u6027\u4ecd\u7136\u4e3a\u8d1f\uff0c\u4f46\u4f3c\u4e4e\u9010\u6e10\u63a5\u8fd1 0\u00a0\uff0c\u8fd9\u8868\u660e\u968f\u7740\u5b8f\u89c2\u7ecf\u6d4e\u6761\u4ef6\u5f00\u59cb\u7f13\u548c\uff0c\u6bd4\u7279\u5e01\u6b63\u5904\u4e8e\u4e00\u4e2a\u8fc7\u6e21\u9636\u6bb5\u3002<\/p>\n<\/li>\n<\/ul>\n<p>\u867d\u7136\u5229\u7387\u51b3\u5b9a\u4e86\u5e02\u573a\u80cc\u666f\uff0c\u4f46\u901a\u8fc7\u6bd4\u8f83\u6bd4\u7279\u5e01\u4e0e\u80a1\u7968\u548c\u9ec4\u91d1\u7684\u5173\u7cfb\uff0c\u53ef\u4ee5\u66f4\u597d\u5730\u63ed\u793a\u5b83\u76f8\u5bf9\u4e8e\u4e3b\u8981\u8d44\u4ea7\u7c7b\u522b\u7684\u8868\u73b0\u3002<\/p>\n<h2>\u6bd4\u7279\u5e01\u56de\u62a5\u7387\u4e0e\u9ec4\u91d1\u548c\u80a1\u7968\u7684\u5173\u7cfb<\/h2>\n<h3>\u76f8\u5173\u6027<\/h3>\n<p>\u8981\u5224\u65ad\u4e00\u79cd\u8d44\u4ea7\u662f\u5426\u4e0e\u53e6\u4e00\u79cd\u8d44\u4ea7\u8131\u94a9\uff0c\u6700\u76f4\u63a5\u7684\u65b9\u6cd5\u662f\u67e5\u770b\u56de\u62a5\u7387\u4e4b\u95f4\u7684\u76f8\u5173\u6027\u3002\u4e0b\u9762\u662f\u6bd4\u7279\u5e01\u4e0e\u6807\u51c6\u666e\u5c14 500 \u6307\u6570\u548c\u9ec4\u91d1\u4e4b\u95f4 90 \u5929\u56de\u62a5\u7387\u76f8\u5173\u6027\u7684\u56fe\u8868\u3002<\/p>\n<p class=\"ql-align-center\"><img alt=\"\u6bd4\u7279\u5e01\u6b63\u5728\u4e0e\u4f20\u7edf\u5e02\u573a\u8131\u94a9\u5417\uff1f\"><\/p>\n<p class=\"img-desc customstyle_text\">\u6570\u636e\u6765\u6e90\uff1aCoin Metrics<\/p>\n<p>\u786e\u5b9e\uff0c\u6211\u4eec\u770b\u5230\u6bd4\u7279\u5e01\u4e0e\u9ec4\u91d1\u548c\u80a1\u7968\u7684\u76f8\u5173\u6027\u5728\u5386\u53f2\u4e0a\u90fd\u5904\u4e8e\u8f83\u4f4e\u6c34\u5e73\u3002\u901a\u5e38\u60c5\u51b5\u4e0b\uff0c\u6bd4\u7279\u5e01\u7684\u56de\u62a5\u7387\u4f1a\u5728\u4e0e\u9ec4\u91d1\u6216\u80a1\u7968\u7684\u76f8\u5173\u6027\u4e4b\u95f4\u6ce2\u52a8\uff0c\u4e0e\u9ec4\u91d1\u7684\u76f8\u5173\u6027\u4e00\u822c\u66f4\u9ad8\u3002\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0c\u968f\u7740\u5e02\u573a\u60c5\u7eea\u5347\u6e29\uff0c\u6bd4\u7279\u5e01\u4e0e\u6807\u51c6\u666e\u5c14 500 \u6307\u6570\u7684\u76f8\u5173\u6027\u5728 2025 \u5e74\u6709\u6240\u4e0a\u5347\u3002\u4f46\u4ece 2025 \u5e74 2 \u6708\u5de6\u53f3\u5f00\u59cb\uff0c\u6bd4\u7279\u5e01\u4e0e\u9ec4\u91d1\u548c\u80a1\u7968\u7684\u76f8\u5173\u6027\u90fd\u8d8b\u5411\u4e8e\u96f6\uff0c\u8fd9\u8868\u660e\u6bd4\u7279\u5e01\u6b63\u5904\u4e8e\u4e00\u4e2a\u4e0e\u9ec4\u91d1\u548c\u80a1\u7968 \u300c\u8131\u94a9\u300d \u7684\u72ec\u7279\u9636\u6bb5\u3002\u81ea 2021 \u5e74\u672b\u4e0a\u4e00\u4e2a\u5468\u671f\u7684\u9ad8\u5cf0\u671f\u4ee5\u6765\uff0c\u8fd9\u79cd\u60c5\u51b5\u8fd8\u672a\u66fe\u51fa\u73b0\u8fc7\u3002<\/p>\n<p>\u5f53\u76f8\u5173\u6027\u5982\u6b64\u4e4b\u4f4e\u65f6\uff0c\u901a\u5e38\u4f1a\u53d1\u751f\u4ec0\u4e48\u5462\uff1f\u6211\u4eec\u6574\u7406\u4e86\u6bd4\u7279\u5e01\u4e0e\u6807\u51c6\u666e\u5c14 500 \u6307\u6570\u548c\u9ec4\u91d1\u7684\u6eda\u52a8 90 \u5929\u76f8\u5173\u6027\u4f4e\u4e8e\u663e\u8457\u9608\u503c\uff08\u7ea6 0.15\uff09\u7684\u65f6\u95f4\u6bb5\uff0c\u5e76\u6807\u6ce8\u4e86\u5f53\u65f6\u6700\u503c\u5f97\u5173\u6ce8\u7684\u4e8b\u4ef6\u3002<\/p>\n<p class=\"ql-align-center\"><img decoding=\"async\" alt=\"\u6bd4\u7279\u5e01\u6b63\u5728\u4e0e\u4f20\u7edf\u5e02\u573a\u8131\u94a9\u5417\uff1f\" src=\"https:\/\/s2.flink2.com\/news\/other\/20250507\/281621b74ac13792d6bf53cf302d3498.jpg\"><\/p>\n<p class=\"img-desc customstyle_text\"><img alt=\"\u6bd4\u7279\u5e01\u6b63\u5728\u4e0e\u4f20\u7edf\u5e02\u573a\u8131\u94a9\u5417\uff1f\"><\/p>\n<p class=\"img-desc customstyle_text\">\u6bd4\u7279\u5e01\u4e0e\u9ec4\u91d1\u7684\u4f4e\u76f8\u5173\u6027\u65f6\u671f<\/p>\n<p>\u4e0d\u51fa\u6240\u6599\uff0c\u8fc7\u53bb\u6bd4\u7279\u5e01\u4e0e\u5176\u4ed6\u8d44\u4ea7\u7684\u8131\u94a9\u60c5\u51b5\u53d1\u751f\u5728\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u51fa\u73b0\u91cd\u5927\u51b2\u51fb\u7684\u7279\u6b8a\u65f6\u671f\uff0c\u6bd4\u5982\u4e2d\u56fd\u5bf9\u6bd4\u7279\u5e01\u7684\u7981\u4ee4\u4ee5\u53ca\u6bd4\u7279\u5e01\u73b0\u8d27 ETF \u7684\u83b7\u6279\u3002\u4ece\u5386\u53f2\u4e0a\u770b\uff0c\u4f4e\u76f8\u5173\u6027\u65f6\u671f\u901a\u5e38\u6301\u7eed 2 \u5230 3 \u4e2a\u6708\u5de6\u53f3\uff0c\u4e0d\u8fc7\u8fd9\u53d6\u51b3\u4e8e\u4f60\u6240\u8bbe\u5b9a\u7684\u76f8\u5173\u6027\u9608\u503c\u3002<\/p>\n<p>\u8fd9\u4e9b\u65f6\u671f\u786e\u5b9e\u4f34\u968f\u7740\u9002\u5ea6\u7684\u6b63\u56de\u62a5\u7387\uff0c\u4f46\u9274\u4e8e\u6bcf\u4e2a\u65f6\u671f\u90fd\u6709\u5176\u72ec\u7279\u4e4b\u5904\uff0c\u5728\u5bf9\u6bd4\u7279\u5e01\u8fd1\u671f\u7684\u8868\u73b0\u5f97\u51fa\u4efb\u4f55\u7ed3\u8bba\u4e4b\u524d\uff0c\u8bf7\u4ed4\u7ec6\u601d\u8003\u8fd9\u4e9b\u65f6\u671f\u7684\u72ec\u7279\u4e4b\u5904\u3002\u8bdd\u867d\u5982\u6b64\uff0c\u5bf9\u4e8e\u5e0c\u671b\u5728\u98ce\u9669\u5206\u6563\u578b\u6295\u8d44\u7ec4\u5408\u4e2d\u5927\u91cf\u914d\u7f6e\u6bd4\u7279\u5e01\u800c\u8a00\uff0c\u6bd4\u7279\u5e01\u8fd1\u671f\u4e0e\u5176\u4ed6\u8d44\u4ea7\u7684\u4f4e\u76f8\u5173\u6027\u662f\u4e00\u4e2a\u7406\u60f3\u7684\u7279\u6027\u3002<\/p>\n<h3>\u5e02\u573a beta \u7cfb\u6570<\/h3>\n<p>\u9664\u4e86\u76f8\u5173\u6027\u4e4b\u5916\uff0c\u5e02\u573a beta \u7cfb\u6570\u662f\u53e6\u4e00\u4e2a\u8861\u91cf\u8d44\u4ea7\u56de\u62a5\u7387\u4e0e\u5e02\u573a\u56de\u62a5\u7387\u4e4b\u95f4\u5173\u7cfb\u7684\u6709\u7528\u6307\u6807\u3002\u5e02\u573a beta \u7cfb\u6570\u91cf\u5316\u4e86\u4e00\u79cd\u8d44\u4ea7\u7684\u56de\u62a5\u7387\u9884\u671f\u4f1a\u968f\u7740\u5e02\u573a\u56de\u62a5\u7387\u53d8\u52a8\u7684\u7a0b\u5ea6\uff0c\u5176\u8ba1\u7b97\u65b9\u6cd5\u662f\u8d44\u4ea7\u56de\u62a5\u7387\u51cf\u53bb\u65e0\u98ce\u9669\u5229\u7387\u76f8\u5bf9\u4e8e\u67d0\u4e2a\u57fa\u51c6\u7684\u654f\u611f\u5ea6\u3002\u76f8\u5173\u6027\u8861\u91cf\u7684\u662f\u4e00\u79cd\u8d44\u4ea7\u4e0e\u57fa\u51c6\u56de\u62a5\u7387\u4e4b\u95f4\u7ebf\u6027\u5173\u7cfb\u7684\u65b9\u5411\u548c\u5f3a\u5ea6\uff0c\u800c\u5e02\u573a beta \u7cfb\u6570\u8861\u91cf\u7684\u662f\u4e00\u79cd\u8d44\u4ea7\u5bf9\u5e02\u573a\u6ce2\u52a8\u7684\u654f\u611f\u5ea6\u7684\u65b9\u5411\u548c\u5e45\u5ea6\u3002<\/p>\n<p>\u4f8b\u5982\uff0c\u4eba\u4eec\u5e38\u8bf4\u6bd4\u7279\u5e01\u76f8\u5bf9\u4e8e\u80a1\u7968\u5e02\u573a\u7684\u4ea4\u6613\u5177\u6709 \u300c\u9ad8 beta \u7cfb\u6570\u300d\u3002\u5177\u4f53\u6765\u8bf4\uff0c\u5982\u679c\u4e00\u79cd\u8d44\u4ea7\uff08\u5982\u6bd4\u7279\u5e01\uff09\u7684\u5e02\u573a beta \u7cfb\u6570\u4e3a 1.5\u00a0\uff0c\u90a3\u4e48\u5f53\u5e02\u573a\u57fa\u51c6\u8d44\u4ea7\uff08\u6807\u51c6\u666e\u5c14 500 \u6307\u6570\uff09\u53d8\u52a8 1% \u65f6\uff0c\u9884\u8ba1\u8be5\u8d44\u4ea7\u7684\u56de\u62a5\u7387\u5c06\u53d8\u52a8 1.5%\u00a0\u3002\u8d1f beta \u7cfb\u6570\u610f\u5473\u7740\u5f53\u57fa\u51c6\u8d44\u4ea7\u7684\u56de\u62a5\u7387\u4e3a\u6b63\u65f6\uff0c\u8be5\u8d44\u4ea7\u7684\u56de\u62a5\u7387\u4e3a\u8d1f\u3002<\/p>\n<p class=\"ql-align-center\"><img alt=\"\u6bd4\u7279\u5e01\u6b63\u5728\u4e0e\u4f20\u7edf\u5e02\u573a\u8131\u94a9\u5417\uff1f\"><\/p>\n<p>\u5728 2024 \u5e74\u7684\u5927\u90e8\u5206\u65f6\u95f4\u91cc\uff0c\u6bd4\u7279\u5e01\u76f8\u5bf9\u4e8e\u6807\u51c6\u666e\u5c14 500 \u6307\u6570\u7684 beta \u7cfb\u6570\u8fdc\u9ad8\u4e8e 1\u00a0\uff0c\u8fd9\u610f\u5473\u7740\u5b83\u5bf9\u80a1\u7968\u5e02\u573a\u7684\u6ce2\u52a8\u9ad8\u5ea6\u654f\u611f\u3002\u5728\u4e50\u89c2\u7684\u3001\u98ce\u9669\u504f\u597d\u8f83\u9ad8\u7684\u5e02\u573a\u73af\u5883\u4e2d\uff0c\u6301\u6709\u4e00\u5b9a\u6bd4\u4f8b\u6bd4\u7279\u5e01\u7684\u6295\u8d44\u8005\u76f8\u6bd4\u4e8e\u4ec5\u6301\u6709\u6807\u51c6\u666e\u5c14 500 \u6307\u6570\u7684\u6295\u8d44\u8005\uff0c\u83b7\u5f97\u4e86\u66f4\u9ad8\u7684\u56de\u62a5\u3002\u5c3d\u7ba1\u6bd4\u7279\u5e01\u5e38\u88ab\u8d34\u4e0a \u300c\u6570\u5b57\u9ec4\u91d1\u300d \u7684\u6807\u7b7e\uff0c\u4f46\u5176\u76f8\u5bf9\u4e8e\u5b9e\u7269\u9ec4\u91d1\u7684\u4f4e beta \u7cfb\u6570\u8868\u660e\uff0c\u540c\u65f6\u6301\u6709\u8fd9\u4e24\u79cd\u8d44\u4ea7\u53ef\u4ee5\u5bf9\u51b2\u5404\u81ea\u8d44\u4ea7\u7684\u4e0b\u884c\u98ce\u9669\u3002<\/p>\n<p>\u968f\u7740\u6211\u4eec\u8fdb\u5165 2025 \u5e74\uff0c\u6bd4\u7279\u5e01\u76f8\u5bf9\u4e8e\u6807\u51c6\u666e\u5c14 500 \u6307\u6570\u548c\u9ec4\u91d1\u7684 beta 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