#加密市场季度观察
In the second quarter of 2025, the cryptocurrency market exhibited complex dynamics.
After the total market value fell to $2.8 trillion in the first quarter, there was a slight rebound at the beginning of the second quarter, but it remained significantly affected by macroeconomic uncertainties and experienced high volatility.
Bitcoin's dominance solidified, with a market share of 60.6%, and its price hovered around $85,000, outperforming most altcoins.
Solana performed impressively due to the launch of Canada's first Solana ETF and an on-chain meme frenzy, with prices rising 36% from the first quarter's low.
Ethereum continued to lag, with its market share dropping to 7.3%, a five-year low, partly attributed to a lack of innovation and a slowdown in DeFi activity.
AI-related crypto projects like ALCH and dark maintained their popularity, showing significant price increases, reflecting the market's enthusiasm for the AI sector.
Trading volume declined, with the spot trading volume on centralized exchanges decreasing by 16.3% compared to the first quarter.
Market sentiment remained cautious, with Coinbase's monthly report recommending defensive strategies, but it is expected that the market may stabilize in the latter half of the second quarter, laying the groundwork for a rebound in the third quarter.
In terms of regulation, the U.S. policy is expected to be lenient, which could drive institutional capital inflows.
Overall, the market is becoming increasingly fragmented, necessitating attention to opportunities in Solana and the AI sector while remaining vigilant about the risks of economic recession. #加密市场季度观察 $BTC
