Gate Research: 2025 Q1 Crypto Market Review

2025-04-08 09:56:24 UTC
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Gate Research has released its latest report, "Gate Research: 2025 Q1 Crypto Market Review", offering a comprehensive analysis of crypto market performance in the first quarter of 2025. The report covers market trends, on-chain data, key developments, security incidents, funding activity, and forward-looking insights—providing a deep dive into overall market behavior and emerging trends.

Key Highlights:

  • Market Overview: The total crypto market cap fell from $3.8 trillion to $2.7 trillion in Q1, marking an 18.77% decline. BTC's dominance rose to 59%, the highest since 2022. Stablecoin demand surged, with total market cap increasing 15.2% to $234.3 billion.
  • BTC & ETH Analysis: BTC ETFs recorded $930 million in net inflows, down nearly 94% from the previous quarter. ETH ETFs saw $242 million in net outflows. Ethereum's inflation rate climbed to 0.76%, while on-chain activity remained low, with trading dominating network usage.
  • Major Layer-1 Chains: Solana's DeFi TVL dropped 22.51% QoQ, with Raydium plunging over 40%. Both DEX liquidity and meme coin trading saw sharp declines. In contrast, Berachain entered the top six DeFi ecosystems following its mainnet launch.
  • DeFi & Meme Markets: Pump.fun launched PumpSwap to replace Raydium, surpassing $3 billion in cumulative trading volume. BNB Chain saw renewed activity driven by four.meme, with over 150,000 tokens issued.
  • Security Incidents: A total of 63 security events resulted in $1.782 billion in losses. Bybit alone lost over $1.5 billion, underscoring ongoing security risks in cross-chain protocols.
  • Industry Funding: Q1 funding reached $4.694 billion, up 136% QoQ. Capital is clearly returning to the market, with a growing focus on high-quality projects.
  • Outlook: Global macro conditions are becoming more uncertain. New U.S. tariffs have taken effect, and crypto regulations are diverging by region. Despite regulatory headwinds, high-potential projects and ecosystems continue to show strong growth prospects.
**Click here to download the PDF**

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