Today we continue to look at research reports, the 2025 Q2 crypto industry report. Reading more research reports can help us grasp more about the current market situation and understand the current state of the market.
In Q2, there was a rebound of 663.6 billion, with a total market cap of 3.5 trillion, and it has now reached 3.8 trillion.
In terms of market cap share, BTC occupies 62%, ETH 8.8%, and now ETH has exceeded 14%, while Bitcoin still holds 57%. The share of BTC in a raging bull market must be lowered to below 50%, so wait!
A comparison of mainstream cryptocurrencies; this ranking can be a focal point, all are TOP5 series, such as DEFI, MEME, AI, etc., which are popular sectors, and the projects mentioned within the sectors should also be highlighted.
The total supply of stablecoins is increasing, which is a good thing, indicating that funds are continuously flowing in. Notably, ENA in Q2 was only 5.3 billion, but it has now reached 12 billion, leading to a surge in ENA's coin price.
The positive correlation between the crypto market and the US stock market is becoming stronger. Significant rises and falls in the US stock market will affect the trend of the crypto market! The current correlation coefficient is 0.99!
The popular tracks are still AI and memes, as well as WLFI-related ones.
Companies hoarding BTC are currently led by MicroStrategy, occupying 60% of the share. Japanese listed companies have begun to hoard, and in the future, more and more international companies are expected to start hoarding.
Companies are hoarding ETH, and we can see that some companies have started accumulating SOL and XRP; should we pay close attention to this?
The IPOs of crypto companies are accelerating, including CRCL, which surged 10 times upon listing. Many crypto companies are seeking IPOs, such as OKX. The increasing number of companies listing in the US is actually a good thing for the crypto space.
Bitcoin rebounded by 29% in Q2, with average daily trading volume declining.
Hashrate has reached a new high, and prices and hashrate are basically positively correlated.
In Q2, Bitcoin outperformed most mainstream assets and returned to its peak.
BTC's ETF net inflow increased by 12.8 billion, reaching a total scale of 143.4 billion.
ETH has also risen by 36%, but GAS has indeed decreased, indicating that there is no activity on-chain. The Ethereum after POS must become active on-chain to bring about overall deflation, so the start of a bull market must have active on-chain activities to be considered a true bull market.
The BSC chain in Q2 has risen, still due to the active on-chain meme and the synergy between the four.meme platform and the BN platform, good memes can directly increase alpha and liquidity.
Unichain has also been active, with trading volume surging, so UNI is still a project worth looking forward to.
ETH's ETF inflow increased by 1.8 billion, with a total AUM of 10.3 billion USD, but there is still a huge gap compared to BTC. In the future, the market cap gap should still be considered reasonable.
SOL's Q2 rebound is weak, with all heating up following ETF approvals.
In the direction of ETF approvals for SOL, we can see that LTC, XRP, DOGE, ADA, DOT, SUI, and others are still submitting for approval.
The growth of the DEFI market sector is a bit slow, showing mediocre performance.
Regarding the distribution of multi-chain DEFI, ETH remains mainstream, occupying 60% of the market share. If we still cannot see the value of ETH, then this research report would be in vain.
In the DEFI sector, lending and liquidity staking still dominate; we should pay attention to leading projects in these tracks.
The leader in CEX is still BN, followed by MEXC and HTC, surprisingly seeing OK ranked lower?
As mentioned in previous articles, OKB's future has little to do with OK itself.
Pancake in DEX rose in Q2, skyrocketing by 500%, surpassing UNI, mainly due to the previous success of memes.
Similarly, in terms of transaction volume on public chains, BSC has also topped, thanks to the success of MEME.
In terms of contract trading volume, it's still BN, OK, BYBIT.
Currently, Hypeliquid leads the derivatives DEX in a gap-like manner.