{"id":3955,"date":"2026-10-27T14:36:17","date_gmt":"2026-10-27T06:36:17","guid":{"rendered":"https:\/\/www.shoppingguid.com\/?p=3955"},"modified":"2026-10-27T14:36:17","modified_gmt":"2026-10-27T06:36:17","slug":"q4%e5%b7%a8%e4%ba%8f6-67%e4%ba%bf%e7%be%8e%e5%85%83%ef%bc%8c%e8%82%a1%e4%bb%b7%e5%8d%b4%e6%9a%b4%e6%b6%a816%ef%bc%8ccoinbase%e7%8e%b0%e5%9c%a8%e5%85%88%e5%88%ab%e4%b9%b0","status":"publish","type":"post","link":"https:\/\/www.shoppingguid.com\/?p=3955","title":{"rendered":"Q4\u5de8\u4e8f6.67\u4ebf\u7f8e\u5143\uff0c\u80a1\u4ef7\u5374\u66b4\u6da816%\uff0cCoinbase\u73b0\u5728\u5148\u522b\u4e70"},"content":{"rendered":"<div>\n<p><em>\u539f\u6587\u4f5c\u8005 \/ <\/em><em>Tiago Souza<\/em>\u3001<em>Mario Stefanidis<\/em><\/p>\n<p><em>\u7f16\u8bd1 \/ Odaily \u661f\u7403\u65e5\u62a5 Golem\uff08<\/em><em>@web 3_golem<\/em><em>\uff09<\/em><\/p>\n<p><img decoding=\"async\" alt=\"Coinbase\" src=\"https:\/\/hx24-prod.mars-block.com\/image\/news\/2026\/02\/14\/1771049046882120.jpg?x-oss-process=image\/quality,q_50\/format,webp\" title=\"Q4\u5de8\u4e8f6.67\u4ebf\u7f8e\u5143\uff0c\u80a1\u4ef7\u5374\u66b4\u6da816%\uff0cCoinbase\u73b0\u5728\u5148\u522b\u4e70\u63d2\u56fe\" \/><\/p>\n<p><em>\u7f16\u8005\u6309\uff1a2 \u6708 13 \u65e5\uff0cCoinbase \u53d1\u5e03\u4e86 2025 \u5e74\u7b2c\u56db\u5b63\u5ea6\u548c\u5168\u5e74\u8d22\u62a5\u3002<\/em><em>\u8d22\u62a5<\/em><em>\u663e\u793a\uff0c\u867d\u7136 Coinbase \u5168\u5e74\u8868\u73b0\u5f3a\u52b2\uff0c\u4ea4\u6613\u91cf\u548c\u5e02\u573a\u4efd\u989d\u7ffb\u500d\uff0c\u5e73\u53f0\u8d44\u4ea7\u548c USDC \u4f59\u989d\u90fd\u521b\u5386\u53f2\u65b0\u9ad8\uff0c\u4f46 2025 \u5e74\u7b2c\u56db\u5b63\u5ea6\u5171\u8ba1\u5f55\u5f97\u51c0\u4e8f\u635f 6.67 \u4ebf\u7f8e\u5143\uff0c\u6bcf\u80a1\u4e8f\u635f 2.49 \u7f8e\u5143\uff0c\u6536\u603b\u5165\u4e3a 17.8 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title=\"Q4\u5de8\u4e8f6.67\u4ebf\u7f8e\u5143\uff0c\u80a1\u4ef7\u5374\u66b4\u6da816%\uff0cCoinbase\u73b0\u5728\u5148\u522b\u4e70\u63d2\u56fe2\" \/><\/p>\n<p>\u8fd9\u4e9b\u4e3e\u63aa\u65e8\u5728\u63d0\u5347\u5ba2\u6237\u53c2\u4e0e\u5ea6\u548c\u7559\u5b58\u7387\uff0c\u5c24\u5176\u662f\u5728\u673a\u6784\u5c42\u9762\uff0c\u5b9e\u73b0\u6536\u5165\u591a\u5143\u5316\uff0c\u8f6c\u5411\u66f4\u591a\u7ecf\u5e38\u6027\u6536\u5165\u548c\u57fa\u7840\u8bbe\u65bd\u76f8\u5173\u6536\u5165\uff0c\u5e76\u5c06 Coinbase \u4ece\u4e00\u5bb6\u4ee5\u4ea4\u6613\u4e3a\u5bfc\u5411\u7684\u7ecf\u7eaa\u5546\u8f6c\u578b\u4e3a\u8fde\u63a5\u4f20\u7edf\u91d1\u878d\u548c\u94fe\u4e0a\u5e02\u573a\u7684\u5e73\u53f0\u548c\u7f51\u5173\u3002<\/p>\n<h3>\u4ea4\u6613\u4e1a\u52a1\u6536\u5165<\/h3>\n<p><strong>\u5360\u603b\u8425\u6536\u7684 56% | \u516d\u5e74\u590d\u5408\u5e74\u589e\u957f\u7387 36% | \u5e02\u573a\u89c4\u6a21\uff1a270 \u4ebf\u7f8e\u5143\uff082024 \u5e74\uff09<\/strong><\/p>\n<p>\u4ea4\u6613\u6536\u5165\u662f Coinbase 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\u4e2a\u57fa\u70b9<\/li>\n<\/ul>\n<p>\u673a\u6784\u5ba2\u6237\u901a\u8fc7 Coinbase Prime \u8fdb\u884c\u4ea4\u6613\uff0cCoinbase Prime \u662f\u4e00\u5957\u72ec\u7acb\u7684\u4ea7\u54c1\uff0c\u63d0\u4f9b\u5148\u8fdb\u7684\u6267\u884c\u7b97\u6cd5\u3001\u667a\u80fd\u8ba2\u5355\u8def\u7531\u548c\u573a\u5916 (OTC) \u5927\u5b97\u4ea4\u6613\u670d\u52a1\u3002\u8fd9\u4e9b\u5ba2\u6237\u9700\u8981\u66f4\u590d\u6742\u7684\u57fa\u7840\u8bbe\u65bd\uff0c\u4f46\u6bcf\u7f8e\u5143\u7684\u6536\u76ca\u5374\u8f83\u4f4e\uff0c\u8fd9\u51f8\u663e\u4e86\u6563\u6237\u53c2\u4e0e\u5bf9 Coinbase \u6574\u4f53\u5229\u6da6\u7387\u7684\u91cd\u8981\u6027\u3002<\/p>\n<h3>\u8ba2\u9605\u548c\u670d\u52a1\u6536\u5165<\/h3>\n<p><strong>\u5360\u603b\u8425\u6536\u7684 44% | \u516d\u5e74\u590d\u5408\u5e74\u589e\u957f\u7387 232%<\/strong><\/p>\n<p>\u8be5\u677f\u5757\u6c47\u603b\u4e86 Coinbase \u7684\u975e\u4ea4\u6613\u6536\u5165\u6765\u6e90\uff0c\u53cd\u6620\u4e86\u516c\u53f8\u5411\u7ecf\u5e38\u6027\u3001\u57fa\u7840\u8bbe\u65bd\u9a71\u52a8\u578b\u76c8\u5229\u6a21\u5f0f\u7684\u6218\u7565\u8f6c\u578b\u3002\u5176\u5305\u542b\u4ee5\u4e0b\u90e8\u5206\uff1a<\/p>\n<ul>\n<li><strong>\u7a33\u5b9a\u5e01\uff08\u5360\u6536\u5165\u7684 30%\uff09<\/strong><\/li>\n<\/ul>\n<p>\u7a33\u5b9a\u5e01\u6536\u5165\u4e3b\u8981\u53d7 USDC \u666e\u53ca\u7387\u548c\u8054\u90a6\u57fa\u91d1\u5229\u7387\u7684\u5f71\u54cd\u3002Coinbase \u901a\u8fc7\u4e0e USDC \u53d1\u884c\u65b9 Circle \u7684\u6536\u76ca\u5206\u6210\u534f\u8bae\uff0c\u4ece USDC \u50a8\u5907\u4e2d\u83b7\u5f97\u5229\u606f\u6536\u5165\u3002<\/p>\n<p>\u6839\u636e 2023 \u5e74 8 \u6708\u7684\u534f\u8bae\uff0cCoinbase \u83b7\u5f97\u5176\u5e73\u53f0\u4e0a USDC \u6240\u4ea7\u751f\u7684\u5168\u90e8\u5229\u606f\u6536\u5165\uff0c\u5e73\u53f0\u5916 USDC \u4ea7\u751f\u7684\u5229\u606f\u6536\u5165\u7531 Coinbase \u548c Circle \u5404\u5360 50%\u3002<\/p>\n<p>\u8fd9\u79cd\u7ed3\u6784\u4f7f USDC \u6210\u4e3a Coinbase \u6700\u91cd\u8981\u7684\u975e\u4ea4\u6613\u6536\u5165\u6765\u6e90\uff0c\u521b\u9020\u4e86\u4e00\u79cd\u53ef\u6269\u5c55\u4f46\u5bf9\u5229\u7387\u654f\u611f\u7684\u6536\u5165\u6d41\uff0c\u6709\u52a9\u4e8e\u964d\u4f4e\u516c\u53f8\u5bf9\u6ce2\u52a8\u8f83\u5927\u7684\u4ea4\u6613\u91cf\u7684\u4f9d\u8d56\uff082020 \u5e74\u4ea4\u6613\u6536\u5165\u4ecd\u5360\u603b\u8425\u6536\u7684 86%\uff09\u3002<\/p>\n<p>\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0c<strong>Circle \u5408\u4f5c\u7684\u5927\u90e8\u5206\u7ecf\u6d4e\u4ef7\u503c\u90fd\u5f52 Coinbase \u6240\u6709<\/strong>\uff0c\u8fd9\u53cd\u6620\u4e86 Coinbase \u5bf9\u5206\u9500\u548c\u7528\u6237\u8bbf\u95ee\u7684\u63a7\u5236\u6743\u3002\u6570\u636e\u663e\u793a\uff0c\u5728 Circle \u4e0e Coinbase \u8fbe\u6210\u5206\u9500\u534f\u8bae\u540e\uff0cUSDC \u7684\u5e02\u573a\u4efd\u989d\u5728\u7ecf\u5386\u4e86\u4e00\u6bb5\u4e0b\u6ed1\u671f\u540e\u8d8b\u4e8e\u7a33\u5b9a\uff0c\u968f\u540e\u5f00\u59cb\u56de\u5347\uff0c\u8fd9\u51f8\u663e\u4e86\u5927\u578b\u3001\u503c\u5f97\u4fe1\u8d56\u7684\u5e73\u53f0\u5728\u7a33\u5b9a\u5e01\u666e\u53ca\u8fc7\u7a0b\u4e2d\u53d1\u6325\u7684\u6838\u5fc3\u4f5c\u7528\uff0c\u5e76\u5f3a\u5316\u4e86 Coinbase \u5206\u9500\u4f18\u52bf\u7684\u6218\u7565\u4ef7\u503c\u3002<\/p>\n<p><img decoding=\"async\" alt=\"Coinbase\" src=\"https:\/\/hx24-prod.mars-block.com\/image\/news\/2026\/02\/14\/1771049048473226.jpg?x-oss-process=image\/quality,q_50\/format,webp\" title=\"Q4\u5de8\u4e8f6.67\u4ebf\u7f8e\u5143\uff0c\u80a1\u4ef7\u5374\u66b4\u6da816%\uff0cCoinbase\u73b0\u5728\u5148\u522b\u4e70\u63d2\u56fe3\" \/><\/p>\n<ul>\n<li><strong>\u8d28\u62bc\u670d\u52a1\uff08\u5360\u6536\u5165\u7684 10%\uff09<\/strong><\/li>\n<\/ul>\n<p>\u5ba2\u6237\u901a\u8fc7 Coinbase \u8d28\u62bc\u52a0\u5bc6\u8d44\u4ea7\uff0c\u516c\u53f8\u4ece\u8d28\u62bc\u5956\u52b1\u4e2d\u8d5a\u53d6\u4f63\u91d1\u3002\u5728\u4ee5\u592a\u574a\u548c Solana \u7b49\u6743\u76ca\u8bc1\u660e (PoS) \u7f51\u7edc\u4e2d\uff0c\u8d28\u62bc\u6d89\u53ca\u9501\u5b9a\u8d44\u4ea7\u4ee5\u652f\u6301\u7f51\u7edc\u9a8c\u8bc1\u3002\u9a8c\u8bc1\u8005\u53ef\u83b7\u5f97\u7c7b\u4f3c\u6536\u76ca\u7684\u5956\u52b1\uff0cCoinbase \u63d0\u4f9b\u8fd9\u4e9b\u5956\u52b1\uff0c\u5e76\u4ece\u4e2d\u62bd\u53d6\u4e00\u90e8\u5206\u4f5c\u4e3a\u624b\u7eed\u8d39\u3002<\/p>\n<p>\u8be5\u677f\u5757\u7684\u4e3b\u8981\u6536\u5165\u9a71\u52a8\u56e0\u7d20\u5305\u62ec\u52a0\u5bc6\u8d44\u4ea7\u4ef7\u683c\u548c\u6574\u4f53\u533a\u5757\u94fe\u6d3b\u52a8\u3002<\/p>\n<ul>\n<li><strong>\u5176\u4ed6\u670d\u52a1\uff08\u5360\u6536\u5165\u7684 4%\uff09<\/strong><\/li>\n<\/ul>\n<p>\u8be5\u7c7b\u522b\u5305\u62ec IPO \u540e\u63a8\u51fa\u7684\u3001\u76ee\u524d\u6b63\u5728\u6269\u5927\u89c4\u6a21\u7684\u51e0\u9879\u76c8\u5229\u8ba1\u5212\uff1a<\/p>\n<ol>\n<li>Coinbase One\uff0c\u4e00\u9879\u8ba2\u9605\u670d\u52a1\uff0c\u63d0\u4f9b\u66f4\u4f4e\u7684\u4ea4\u6613\u8d39\u7528\u3001\u66f4\u9ad8\u7684\u5956\u52b1\u548c\u4f18\u5148\u5ba2\u6237\u652f\u6301\uff1b<\/li>\n<li><strong>Base<\/strong>\uff0cCoinbase \u7684 L2 \u533a\u5757\u94fe\uff0c\u4f7f\u5f00\u53d1\u4eba\u5458\u80fd\u591f\u5728\u94fe\u4e0a\u6784\u5efa\u5e94\u7528\u7a0b\u5e8f\u548c\u670d\u52a1\uff1b<\/li>\n<li>\u652f\u4ed8\uff0c\u5305\u62ec\u4e0e Visa \u5408\u4f5c\u63a8\u51fa\u7684\u9884\u4ed8\u501f\u8bb0\u5361\uff0c\u5141\u8bb8\u5ba2\u6237\u4f7f\u7528\u6cd5\u5e01\u8d2d\u7269\u5e76\u8d5a\u53d6\u52a0\u5bc6\u8d27\u5e01\u5956\u52b1\u3002\u4ea4\u6613\u4ee5\u6cd5\u5e01\u7ed3\u7b97\uff0c\u4f46\u7528\u6237\u4f53\u9a8c\u4e0e\u539f\u751f\u52a0\u5bc6\u8d27\u5e01\u652f\u4ed8\u7c7b\u4f3c\u3002<\/li>\n<\/ol>\n<h2>\u56f4\u7ed5 Coinbase \u6838\u5fc3\u95ee\u9898\u7684\u591a\u7a7a\u4e89\u8bba<\/h2>\n<h3>Coinbase \u80fd\u5426\u663e\u8457\u964d\u4f4e\u5176\u5468\u671f\u6027\u6ce2\u52a8\uff0c\u8fd8\u662f\u5176\u80a1\u7968\u4ecd\u5c06\u662f\u52a0\u5bc6\u8d27\u5e01\uff08\u4e3b\u8981\u662f\u6bd4\u7279\u5e01\uff09\u4ef7\u683c\u7684\u6760\u6746\u4ee3\u7406\uff1f<\/h3>\n<p>\u4ece\u5386\u53f2\u6765\u770b\uff0cCOIN \u7684\u80a1\u4ef7\u4e0e\u6bd4\u7279\u5e01\u548c\u66f4\u5e7f\u6cdb\u7684\u52a0\u5bc6\u8d27\u5e01\u4ef7\u683c\u9ad8\u5ea6\u76f8\u5173\uff0c\u53cd\u6620\u4e86\u5176\u6536\u76ca\u53d7\u73b0\u8d27\u4ea4\u6613\u91cf\u9a71\u52a8\u3002<\/p>\n<ul>\n<li>\u591a\u5934\uff1a\u7ba1\u7406\u5c42\u8fdb\u519b\u8ba2\u9605\u3001\u7a33\u5b9a\u5e01\u3001\u884d\u751f\u54c1\u3001\u6258\u7ba1\u548c Base \u7b49\u4e1a\u52a1\u5c06\u4f7f\u6536\u5165\u591a\u5143\u5316\uff0c\u5e76\u968f\u7740\u65f6\u95f4\u7684\u63a8\u79fb\u964d\u4f4e\u5468\u671f\u6027\u6ce2\u52a8\u3002<\/li>\n<li>\u7a7a\u5934\uff1a\u5c3d\u7ba1\u91c7\u53d6\u4e86\u8fd9\u4e9b\u4e3e\u63aa\uff0c\u73b0\u8d27\u4ea4\u6613\u4ecd\u7136\u4e3b\u5bfc\u7740\u5176\u7ecf\u6d4e\uff0c\u8fd9\u610f\u5473\u7740\u6bd4\u7279\u5e01\u548c\u4e3b\u8981\u52a0\u5bc6\u8d27\u5e01\u4ef7\u683c\u7684\u4e0b\u8dcc\u5c06\u5f71\u54cd\u5176\u80a1\u4ef7\u3002<\/li>\n<\/ul>\n<p>\u52a0\u5bc6\u8d44\u4ea7\u6301\u7eed\u76f4\u63a5\u5bfc\u81f4\u4ea4\u6613\u91cf\u3001\u5229\u6da6\u7387\u548c\u6536\u76ca\u4e0b\u964d\u3002<\/p>\n<h3>\u7a33\u5b9a\u5e01\u80fd\u5426\u663e\u8457\u6539\u5584\u516c\u53f8\u7684\u76c8\u5229\u72b6\u51b5\uff1f<\/h3>\n<ul>\n<li>\u591a\u5934\uff1aUSDC \u76f8\u5173\u6536\u5165\u662f\u4e00\u9879\u53ef\u6269\u5c55\u3001\u9ad8\u5229\u6da6\u7684\u4e1a\u52a1\uff0c\u4e0e\u94fe\u4e0a\u652f\u4ed8\u3001\u56fd\u5e93\u4f7f\u7528\u548c\u4ee3\u5e01\u5316\u73b0\u91d1\u5bc6\u5207\u76f8\u5173\uff0c\u80fd\u591f\u90e8\u5206\u5bf9\u51b2\u4ea4\u6613\u6ce2\u52a8\u3002<\/li>\n<li>\u7a7a\u5934\uff1a\u7a33\u5b9a\u5e01\u6536\u5165\u5bf9\u5229\u7387\u3001\u8d44\u4ea7\u7ec4\u5408\u548c\u7ade\u4e89\u683c\u5c40\u9ad8\u5ea6\u654f\u611f\uff0c\u8fd9\u610f\u5473\u7740\u964d\u606f\u6216\u6258\u7ba1\u4f59\u989d\u7684\u53d8\u5316\u90fd\u53ef\u80fd\u5927\u5e45\u538b\u7f29\u6536\u76ca\u3002<strong>\u5982\u679c\u7a33\u5b9a\u5e01\u5229\u6da6\u88ab\u8bc1\u660e\u662f\u5468\u671f\u6027\u7684\u800c\u975e\u7ed3\u6784\u6027\u7684\uff0c\u90a3\u4e48 Coinbase \u76c8\u5229\u6a21\u5f0f\u4e2d\u539f\u672c\u88ab\u8ba4\u4e3a\u7684\u4e0b\u884c\u4fdd\u62a4\u4f5c\u7528\u5c31\u4f1a\u51cf\u5f31\u3002<\/strong><\/li>\n<\/ul>\n<h3>\u672a\u6765 12-24 \u4e2a\u6708\uff0c\u76d1\u7ba1\u53d8\u5316\u5c06\u5982\u4f55\u5f71\u54cd\u516c\u53f8\u7684\u76c8\u5229\u72b6\u51b5\uff1f<\/h3>\n<ul>\n<li>\u591a\u5934\uff1a\u66f4\u6e05\u6670\u7684\u89c4\u5219\u5c06\u4fc3\u8fdb\u673a\u6784\u53c2\u4e0e\uff0c\u5e76\u4f7f Coinbase \u6210\u4e3a\u7f8e\u56fd\u6700\u5408\u89c4\u7684\u5e73\u53f0\uff0c\u4ece\u800c\u5de9\u56fa\u5176\u4f5c\u4e3a\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u9ed8\u8ba4\u5165\u53e3\u7684\u5730\u4f4d\u3002<\/li>\n<li>\u7a7a\u5934\uff1a\u76d1\u7ba1\u4e5f\u53ef\u80fd\u5438\u5f15\u4f20\u7edf\u7ecf\u7eaa\u5546\u548c\u91d1\u878d\u673a\u6784\u8fdb\u5165\u52a0\u5bc6\u8d27\u5e01\u9886\u57df\uff0c\u52a0\u901f\u8d39\u7528\u538b\u7f29\u5e76\u52a0\u5267\u7ade\u4e89\uff0c\u5c24\u5176\u662f\u5728\u6563\u6237\u5e02\u573a\u3002\u66f4\u9ad8\u7684\u5408\u6cd5\u6027\u6216\u8bb8\u80fd\u6269\u5927\u4ea4\u6613\u91cf\uff0c\u4f46\u4e5f\u53ef\u80fd\u4ee5\u727a\u7272\u957f\u671f\u5b9a\u4ef7\u6743\u4e3a\u4ee3\u4ef7\u3002<\/li>\n<\/ul>\n<h2>\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\u5371\u673a\u4e0e Coinbase \u7684\u72ec\u7279\u4f18\u52bf<\/h2>\n<h3>DEX \u5728\u5168\u7403\u4ea4\u6613\u5e02\u573a\u4e2d\u5d1b\u8d77<\/h3>\n<p>\u5728\u5168\u7403\u8303\u56f4\u5185\uff0c\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240 (CEX) \u548c\u53bb\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240 (DEX) \u7684\u603b\u6f5c\u5728\u5e02\u573a (TAM) \u662f\u540c\u4e00\u4e2a\u57fa\u7840\u8d44\u91d1\u6c60\uff1a\u6db5\u76d6\u73b0\u8d27\u3001\u884d\u751f\u54c1\u548c\u94fe\u4e0a\u8d44\u4ea7\u4e92\u6362\u7684\u52a0\u5bc6\u8d27\u5e01\u4ea4\u6613\u6d3b\u52a8\uff0c\u5176\u5e74\u5ea6\u540d\u4e49\u4ea4\u6613\u91cf\u76ee\u524d\u9ad8\u8fbe\u6570\u4e07\u4ebf\u7f8e\u5143\u3002<\/p>\n<p>\u4ec5\u73b0\u8d27\u4ea4\u6613\u4e00\u9879\uff0c\u884c\u4e1a\u6570\u636e\u663e\u793a\uff0c2024 \u5e74\u5168\u7403 CEX \u73b0\u8d27\u4ea4\u6613\u91cf\u8d85 18 \u4e07\u4ebf\u7f8e\u5143\uff0c\u800c\u884d\u751f\u54c1\u4ea4\u6613\u91cf\u5219\u8981\u5927\u5f97\u591a\u3002\u5728\u7f8e\u56fd\uff0c\u73b0\u8d27 TAM \u89c4\u6a21\u8f83\u5c0f\uff0c\u4f46\u4ecd\u7136\u5341\u5206\u53ef\u89c2\uff0c\u7f8e\u5143\u8ba1\u4ef7\u7684\u73b0\u8d27\u4ea4\u6613\u91cf\u4f30\u8ba1\u7ea6\u4e3a\u6bcf\u5e74 1.5 \u4e07\u4ebf\u7f8e\u5143\uff0c\u8fd9\u53cd\u6620\u4e86\u7f8e\u56fd\u5728\u6cd5\u5e01\u6d41\u52a8\u6027\u548c\u4ef7\u683c\u53d1\u73b0\u65b9\u9762\u7684\u91cd\u8981\u6027\u3002\u4ece\u5386\u53f2\u4e0a\u770b\uff0c\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240 (CEX) \u51ed\u501f\u5176\u6df1\u539a\u7684\u6d41\u52a8\u6027\u3001\u4fbf\u6377\u7684\u6cd5\u5e01\u5145\u503c\u6e20\u9053\u4ee5\u53ca\u66f4\u6613\u7528\u7684\u7528\u6237\u4f53\u9a8c\uff08\u5c24\u5176\u5bf9\u96f6\u552e\u548c\u673a\u6784\u53c2\u4e0e\u8005\u800c\u8a00\uff09\uff0c\u5360\u636e\u4e86\u8be5\u5e02\u573a\u7684\u5927\u90e8\u5206\u4efd\u989d\u3002<\/p>\n<p><img decoding=\"async\" alt=\"Coinbase\" src=\"https:\/\/hx24-prod.mars-block.com\/image\/news\/2026\/02\/14\/1771049048908371.jpg?x-oss-process=image\/quality,q_50\/format,webp\" title=\"Q4\u5de8\u4e8f6.67\u4ebf\u7f8e\u5143\uff0c\u80a1\u4ef7\u5374\u66b4\u6da816%\uff0cCoinbase\u73b0\u5728\u5148\u522b\u4e70\u63d2\u56fe4\" \/><\/p>\n<p><strong>\u7136\u800c\uff0c\u968f\u7740\u65f6\u95f4\u7684\u63a8\u79fb\uff0c\u53bb\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240 (DEX) \u5728\u5168\u7403\u4ea4\u6613\u91cf\u4e2d\u7684\u4efd\u989d\u7a33\u6b65\u589e\u957f\uff0c\u4ece\u51e0\u5e74\u524d\u7684\u4e2a\u4f4d\u6570\u4f4e\u4f4d\u589e\u957f\u5230\u5982\u4eca\u7684\u4e8c\u5341\u591a\u4f4d\u3002<\/strong>\u8fd9\u79cd\u8f6c\u53d8\u5728\u7f8e\u56fd\u4ee5\u5916\u7684\u5730\u533a\u66f4\u4e3a\u663e\u8457\uff0c\u56e0\u4e3a\u5728\u8fd9\u4e9b\u5730\u533a\uff0cDEX \u7684\u4f7f\u7528\u53d7\u76ca\u4e8e\u65e0\u9700\u8bb8\u53ef\u7684\u8bbf\u95ee\uff0c\u800c\u7f8e\u56fd\u5e02\u573a\u4efd\u989d\u4ecd\u7136\u660e\u663e\u8f83\u4f4e\uff0c\u53d7\u5230\u6cd5\u5e01\u4f9d\u8d56\u548c\u76d1\u7ba1\u6469\u64e6\u7684\u5236\u7ea6\u3002<\/p>\n<p><img decoding=\"async\" alt=\"Coinbase\" src=\"https:\/\/hx24-prod.mars-block.com\/image\/news\/2026\/02\/14\/1771049049122827.jpg?x-oss-process=image\/quality,q_50\/format,webp\" title=\"Q4\u5de8\u4e8f6.67\u4ebf\u7f8e\u5143\uff0c\u80a1\u4ef7\u5374\u66b4\u6da816%\uff0cCoinbase\u73b0\u5728\u5148\u522b\u4e70\u63d2\u56fe5\" \/><\/p>\n<p>\u5176\u6839\u672c\u9a71\u52a8\u56e0\u7d20\u662f\u7ed3\u6784\u6027\u7684\uff1aL2 \u7f51\u7edc\u964d\u4f4e\u4e86\u4ea4\u6613\u6210\u672c\uff0c\u63d0\u9ad8\u4e86\u6267\u884c\u8d28\u91cf\u548c\u6d41\u52a8\u6027\u6df1\u5ea6\uff0c\u4ee5\u53ca\u94fe\u4e0a\u751f\u6001\u7cfb\u7edf\u7684\u5feb\u901f\u53d1\u5c55\uff0c\u4f7f\u5f97\u4ea4\u6613\u3001\u501f\u8d37\u548c\u6536\u76ca\u751f\u6210\u7b49\u529f\u80fd\u8d8a\u6765\u8d8a\u591a\u5730\u539f\u751f\u5b9e\u73b0\u3002<\/p>\n<p>\u4e0e\u6b64\u540c\u65f6\uff0c\u76d1\u7ba1\u548c\u5408\u89c4\u8d1f\u62c5\u7684\u52a0\u91cd\u9650\u5236\u4e86\u591a\u4e2a\u53f8\u6cd5\u7ba1\u8f96\u533a CEX \u7684\u4ea7\u54c1\u7075\u6d3b\u6027\uff0c\u800c DEX \u5219\u56e0\u5176\u8bbe\u8ba1\u800c\u4fdd\u6301\u4e86\u5168\u7403\u53ef\u8bbf\u95ee\u6027\u3002\u6b64\u5916\uff0c\u503c\u5f97\u4e00\u63d0\u7684\u662f\uff0c\u5728\u7f8e\u56fd\uff0c\u76d1\u7ba1\u548c\u5408\u89c4\u8d1f\u62c5\u7684\u52a0\u91cd\u540c\u6837\u4e5f\u9650\u5236\u4e86\u591a\u4e2a\u53f8\u6cd5\u7ba1\u8f96\u533a CEX \u7684\u4ea7\u54c1\u7075\u6d3b\u6027\uff0c\u800c DEX \u5219\u65e0\u9700\u8bb8\u53ef\u5373\u53ef\u5728\u5168\u7403\u8303\u56f4\u5185\u8bbf\u95ee\u3002<\/p>\n<p>\u56e0\u6b64\uff0c<strong>\u5c3d\u7ba1 CEX \u4ecd\u7136\u5360\u636e\u7edd\u5bf9\u4ea4\u6613\u91cf\u548c\u673a\u6784\u6d41\u91cf\u7684\u4e3b\u5bfc\u5730\u4f4d\uff0c\u5c24\u5176\u662f\u5728\u7f8e\u56fd\uff0c\u4f46 DEX \u6b63\u5728\u5360\u636e\u5168\u7403\u4ea4\u6613\u5e02\u573a\u89c4\u6a21 (TAM) \u4e2d\u8d8a\u6765\u8d8a\u5927\u7684\u4efd\u989d\uff0c\u8fd9\u53cd\u6620\u51fa\u4ea4\u6613\u6d3b\u52a8\u7684\u9010\u6b65\u4f46\u6301\u7eed\u7684\u91cd\u65b0\u5206\u914d\u3002<\/strong><img decoding=\"async\" alt=\"Coinbase\" src=\"https:\/\/hx24-prod.mars-block.com\/image\/news\/2026\/02\/14\/1771049049395487.jpg?x-oss-process=image\/quality,q_50\/format,webp\" title=\"Q4\u5de8\u4e8f6.67\u4ebf\u7f8e\u5143\uff0c\u80a1\u4ef7\u5374\u66b4\u6da816%\uff0cCoinbase\u73b0\u5728\u5148\u522b\u4e70\u63d2\u56fe6\" \/><\/p>\n<h3>Coinbase \u5728\u7f8e\u56fd\u5e02\u573a\u7684\u4f18\u52bf<\/h3>\n<p>\u5728\u5168\u7403\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\uff0c\u4e0d\u540c\u5e73\u53f0\u7684\u4ea4\u6613\u8d39\u7528\u5dee\u5f02\u5f88\u5927\uff0c\u8fd9\u53cd\u6620\u4e86\u76d1\u7ba1\u5236\u5ea6\u3001\u6210\u672c\u7ed3\u6784\u548c\u7ade\u4e89\u5f3a\u5ea6\u7684\u5dee\u5f02\u3002\u5728\u6b64\u80cc\u666f\u4e0b\uff0c<strong>Coinbase \u5386\u6765\u6536\u53d6\u7684\u8d39\u7528\u8fdc\u9ad8\u4e8e\u5927\u591a\u6570\u5168\u7403\u540c\u884c\uff0c\u8fd9\u4e3b\u8981\u662f\u7531\u4e8e\u5176\u4ee5\u7f8e\u56fd\u4e3a\u4e2d\u5fc3\u7684\u8fd0\u8425\u6a21\u5f0f\u6240\u81f4\u3002<\/strong><\/p>\n<p>\u5b8c\u5168\u5728\u7f8e\u56fd\u76d1\u7ba1\u6846\u67b6\u5185\u8fd0\u8425\u610f\u5473\u7740\u66f4\u9ad8\u7684\u6210\u672c\uff08\u6db5\u76d6\u5408\u89c4\u548c\u6258\u7ba1\u6807\u51c6\u3001\u62a5\u544a\u548c\u8d44\u672c\u8981\u6c42\u7b49\uff09\uff0c\u4f46\u5b83\u4e5f\u4e3a\u7528\u6237\u63d0\u4f9b\u4e86\u79bb\u5cb8\u4ea4\u6613\u5e73\u53f0\u65e0\u6cd5\u6bd4\u62df\u7684\u6cd5\u5f8b\u6e05\u6670\u5ea6\u548c\u5b89\u5168\u6027\u3002\u5bf9\u4e8e\u7f8e\u56fd\u7684\u6563\u6237\u800c\u8a00\uff0c\u5c24\u5176\u662f\u5728\u5e02\u573a\u5f3a\u52b2\u589e\u957f\u65f6\u671f\uff0c\u8fd9\u79cd\u6743\u8861\u4fc3\u4f7f\u4ed6\u4eec\u613f\u610f\u4e3a\u4fbf\u6377\u6027\u3001\u4fe1\u4efb\u548c\u76d1\u7ba1\u786e\u5b9a\u6027\u4ed8\u8d39\u3002<\/p>\n<p><img decoding=\"async\" alt=\"Coinbase\" src=\"https:\/\/hx24-prod.mars-block.com\/image\/news\/2026\/02\/14\/1771049049796533.png?x-oss-process=image\/quality,q_50\/format,webp\" title=\"Q4\u5de8\u4e8f6.67\u4ebf\u7f8e\u5143\uff0c\u80a1\u4ef7\u5374\u66b4\u6da816%\uff0cCoinbase\u73b0\u5728\u5148\u522b\u4e70\u63d2\u56fe7\" \/><\/p>\n<p class=\"img-desc\">\u4e0d\u540c\u4ea4\u6613\u6240\u6536\u53d6\u7684\u624b\u7eed\u8d39\u6bd4\u4f8b<\/p>\n<p>\u5728\u7f8e\u56fd\uff0cCoinbase \u4f5c\u4e3a\u89c4\u6a21\u6700\u5927\u3001\u5386\u53f2\u6700\u60a0\u4e45\u7684\u53d7\u76d1\u7ba1\u52a0\u5bc6\u8d27\u5e01\u4ea4\u6613\u6240\uff0c\u5c24\u5176\u662f\u5728\u7f8e\u5143\u8ba1\u4ef7\u7684\u73b0\u8d27\u4ea4\u6613\u9886\u57df\uff0c\u5360\u636e\u7740\u72ec\u7279\u7684\u4f18\u52bf\u5730\u4f4d\u3002<\/p>\n<p>Coinbase \u7ea6\u5360\u7f8e\u56fd\u73b0\u8d27\u52a0\u5bc6\u8d27\u5e01\u4ea4\u6613\u91cf\u7684 40% \u81f3 50%\uff0c\u5728\u5e02\u573a\u627f\u538b\u65f6\u671f\uff0c\u4ea4\u6613\u5bf9\u624b\u4f18\u5148\u8003\u8651\u8d44\u4ea7\u8d1f\u503a\u8868\u5b89\u5168\u548c\u76d1\u7ba1\u6e05\u6670\u5ea6\u65f6\uff0c\u5176\u4efd\u989d\u66f4\u9ad8\u3002Coinbase \u7684\u6838\u5fc3\u5ba2\u6237\u7fa4\u5305\u62ec\u91cd\u89c6\u6613\u7528\u6027\u548c\u53ef\u9760\u6cd5\u5e01\u5165\u91d1\u6e20\u9053\u7684\u7f8e\u56fd\u6563\u6237\uff0c\u4ee5\u53ca\u91cd\u89c6\u4fbf\u6377\u6027\u548c\u76d1\u7ba1\u786e\u5b9a\u6027\u7684\u673a\u6784\u5ba2\u6237\uff08\u5305\u62ec\u8d44\u4ea7\u7ba1\u7406\u516c\u53f8\u3001ETF\u3001\u4f01\u4e1a\u548c\u505a\u5e02\u5546\uff09\u3002<\/p>\n<p>\u8fd9\u79cd\u53cc\u8fb9\u7279\u8bb8\u7ecf\u8425\u6a21\u5f0f\u5f97\u76ca\u4e8e\u6df1\u539a\u7684\u94f6\u884c\u5173\u7cfb\u3001\u4e00\u4f53\u5316\u7684\u6258\u7ba1\u670d\u52a1\u4ee5\u53ca\u4e0e\u7f8e\u56fd\u76d1\u7ba1\u673a\u6784\u7684\u957f\u671f\u5408\u4f5c\u3002<\/p>\n<p>\u4f46\u7f8e\u56fd\u7684\u7ade\u4e89\u683c\u5c40\u4e0e\u5168\u7403\u5e02\u573a\u5b58\u5728\u663e\u8457\u5dee\u5f02\u3002Coinbase \u4e3b\u8981\u7ade\u4e89\u5bf9\u624b\u5305\u62ec Robinhood\uff08\u8be5\u516c\u53f8\u5728\u6563\u6237\u5e02\u573a\u4e2d\u79ef\u6781\u7ade\u76f8\u538b\u4f4e\u4ef7\u683c\uff0c\u4f46\u63d0\u4f9b\u7684\u52a0\u5bc6\u8d27\u5e01\u4ea7\u54c1\u79cd\u7c7b\u8f83\u5c11\uff09\u3001Kraken\uff08\u8be5\u516c\u53f8\u4ee5\u66f4\u4f4e\u7684\u8d39\u7528\u5438\u5f15\u66f4\u6d3b\u8dc3\u7684\u4ea4\u6613\u8005\uff09\u4ee5\u53ca Binance.US\uff08\u5176\u89c4\u6a21\u548c\u4ea7\u54c1\u5e7f\u5ea6\u76f8\u5bf9\u4e8e\u5176\u5168\u7403\u6bcd\u516c\u53f8\u800c\u8a00\u4ecd\u7136\u6709\u9650\uff09\u3002<\/p>\n<p>\u4e0e\u79bb\u5cb8\u4ea4\u6613\u5e73\u53f0\u4e0d\u540c\uff0c\u8fd9\u4e9b\u7ade\u4e89\u5bf9\u624b\u5728\u7c7b\u4f3c\u7684\u76d1\u7ba1\u7ea6\u675f\u4e0b\u8fd0\u8425\uff0c\u9650\u5236\u4e86\u8d39\u7528\u5957\u5229\u548c\u4ea7\u54c1\u5dee\u5f02\u5316\u3002<strong>\u56e0\u6b64\uff0c\u7f8e\u56fd\u7684\u7ade\u4e89\u91cd\u70b9\u4e0d\u5728\u4e8e\u8c01\u80fd\u63d0\u4f9b\u5168\u7403\u6700\u4f4e\u7684\u8d39\u7528\uff0c\u800c\u5728\u4e8e\u4fe1\u4efb\u3001\u5408\u89c4\u6027\u548c\u7f8e\u5143\u6d41\u52a8\u6027\u3002Coinbase 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title=\"Q4\u5de8\u4e8f6.67\u4ebf\u7f8e\u5143\uff0c\u80a1\u4ef7\u5374\u66b4\u6da816%\uff0cCoinbase\u73b0\u5728\u5148\u522b\u4e70\u63d2\u56fe10\" \/><\/p>\n<p>\u622a\u81f3 2026 \u5e74 2 \u6708\uff0c\u52a0\u5bc6\u8d27\u5e01\u603b\u5e02\u503c\u8f83 2025 \u5e74\u5e95\u4e0b\u964d\u7ea6 20%\uff0c\u6b64\u524d 2025 \u5e74\u7b2c\u56db\u5b63\u5ea6\u5df2\u4e0b\u8dcc 22%\uff0c\u8868\u660e\u5ba2\u6237\u8d44\u4ea7\u4f59\u989d\u6301\u7eed\u627f\u538b\u3002<strong>\u5728\u6211\u4eec\u7684\u57fa\u51c6\u9884\u6d4b\u4e2d\uff0c\u6211\u4eec\u9884\u8ba1 2026 \u5e74\u6563\u6237\u8d26\u6237\u8d44\u4ea7\u5c06\u51fa\u73b0\u63a5\u8fd1 10%\u7684\u538b\u7f29\uff0c\u673a\u6784\u8d26\u6237\u4f59\u989d\u4e5f\u5c06\u51fa\u73b0\u63a5\u8fd1 10%\u7684\u538b\u7f29\u3002<\/strong><\/p>\n<p>\u6211\u4eec\u5047\u8bbe 2027 \u5e74\u5c06\u51fa\u73b0\u4e0e\u4ee5\u5f80\u5468\u671f\u4e00\u81f4\u7684\u590d\u82cf\u6a21\u5f0f\uff0c\u5e02\u503c\u5c06\u53cd\u5f39\u81f3 2024 \u5e74\u7684\u6c34\u5e73\uff0c\u6b64\u540e\u5c06\u4fdd\u6301 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17%\uff0c\u6bcf\u80a1\u6536\u76ca\u5c06\u4e0b\u964d\u7ea6 15%\uff0c\u539f\u56e0\u662f\u8fd0\u8425\u6760\u6746\u653e\u5927\u4e86\u75b2\u8f6f\u7684\u4ea4\u6613\u57fa\u672c\u9762\u5e26\u6765\u7684\u5f71\u54cd\u3002<\/strong><\/p>\n<h3>\u8bba\u70b9\u4e09\uff1a2026 \u5e74\u76d1\u7ba1\u65b9\u9762\u7684\u8fdb\u5c55\u5177\u6709\u7ed3\u6784\u6027\u79ef\u6781\u610f\u4e49\uff0c\u4f46\u901f\u5ea6\u592a\u6162\uff0c\u4e0d\u8db3\u4ee5\u62b5\u6d88\u77ed\u671f\u76c8\u5229\u538b\u529b<\/h3>\n<p>\u6211\u4eec\u9884\u8ba1\u7f8e\u56fd\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u7684\u76d1\u7ba1\u900f\u660e\u5ea6\u5c06\u5728 2026 \u5e74\u6709\u6240\u63d0\u9ad8\uff0c\u8fd9\u53ef\u80fd\u901a\u8fc7\u90e8\u5206\u5e02\u573a\u7ed3\u6784\u7acb\u6cd5\u6765\u5b9e\u73b0\uff0c\u4ece\u800c\u51cf\u5c11\u6cd5\u5f8b\u4e0d\u786e\u5b9a\u6027\uff0c\u5e76\u52a0\u5f3a Coinbase 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