Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Dogecoin (CRYPTO: DOGE) and the rest of the cryptocurrency industry are set for a transformative 2025, according to research from Galaxy Research.

What Happened: In a thread on X on Dec. 27, Galaxy Research forecasts notable advances in adoption, infrastructure and regulatory clarity, as well as specific advancements for different assets.

Bitcoin: The research predicts Bitcoin to cross $150,000 in the first half of 2025, potentially reaching or exceeding $185,000 by Q4.

This growth is expected to come from institutional, corporate and nation-state adoption, with Bitcoin targeting 20% of gold's market cap.

Several Nasdaq 100 companies and five countries are projected to add Bitcoin to their balance sheets, strengthening its position.

The U.S. Bitcoin spot ETFs are forecasted to exceed $250 billion in assets under management, nearing the size of physical gold ETFs.

Ethereum: Ethereum is expected to top $5,500 in 2025, boosted by a favorable regulatory environment for DeFi and staking.

Participation in Ethereum staking is predicted to exceed 50%, enhancing demand for services like Lido (CRYPTO: LDO) and EigenLayer (CRYPTO: EIGEN).

The ETH/BTC ratio is forecasted to fall below 0.03 before rebounding, driven by Ethereum's continued dominance in decentralized applications and the growth of Layer-2 solutions.

DeFi and Stablecoins: Bitcoin locked in DeFi contracts is expected to double and stablecoins are projected to surpass $400 billion in supply, driven by new TradFi-backed launches, with major players like PayPal and BlackRock playing a key role.

Galaxy Research predicts Congress to pass stablecoin legislation, setting a clear regulatory framework that will encourage further adoption.

Dogecoin: The meme coin leader is forecasted to reach $1 in 2025, driven by community support, broader crypto adoption and potential mainstream use cases, solidifying its status as the leading meme coin with a $100 billion market cap.

Crypto VC Funding: Investment in crypto ventures is expected to exceed $150 billion, marking a 50% YoY increase.

Factors like declining interest rates and regulatory clarity are fueling renewed interest from investors, accelerating innovation in areas like DeFi, Layer 2 scalability, NFT infrastructure and partnerships with traditional finance.

What's Next: Galaxy Research anticipates that while the U.S. may not buy Bitcoin directly, government agencies are expected to explore reserve policies, signaling growing institutional interest in the cryptocurrency space.