The total crypto market capitalization declined by 18.6% ($633.5 billion) in Q1 2025 closing the quarter at $2.8 trillion, according to a quarterly reports by CoinGecko.
The market peaked locally at $3.8 trillion on January 18 2025, just two days before Donald Trump’s inauguration, but began a downward trend that continued through the rest of the quarter. Average daily trading volume also saw a sharp drop, falling 27.3% quarter-over-quarter to $146.0 billion, down from $200.7 billion in Q4 2024.
Meanwhile,
Bitcoin (BTC) strengthened its market dominance in Q1 2025, rising by 4.6 percentage points to reach 59.1 as the broader market decline impacted altcoins more severely.
Stablecoins also saw increased traction during the downturn with investors seeking safety.
Tether (USDT) edged up to a 5.2% market share, while
USDC reclaimed the #7 position, overtaking DogeCoin (DOGE)
Ethereum (ETH) experienced a steep decline, shedding 3.9 percentage points to end the quarter at 7.9% dominance – its lowest since late 2019.
The “Others” category also shrank, dropping 3.5 percentage points to 15.7, the report said. Among major tokens, only XRP and BNB managed to maintain their market share.
Bitcoin (BTC) surged early in the year, hitting a new all-time high of $106,182 on January 22 2025 – just two days after Trump’s inauguration. However, that marked its year-to-date peak, as BTC declined by 11.8% to close Q1 2025 at $82,514.
In a quarter marked by volatility and uncertainty,
Gold stood out as the best-performing asset with an 18.0% gain. Meanwhile, other risk assets faltered, with
The NASDAQ and S&P 500 falling 10.3% and 4.4% respectively, alongside BTC which had emerged out of 2024 as the top-performing asset.
REPORT | #Bitcoin Outperformed All Asset Classes in 2024, Says Latest CoinGecko Report
In 2024, total crypto market cap almost doubled, increasing by +97.7%. It peaked at $3.91 trillion in mid-December, before consolidating at $3.40 trillion.https://t.co/mNtDl07VNc pic.twitter.com/mPtWKQrwmr
— BitKE (@BitcoinKE) January 23, 2025
Ethereum (ETH) ended the quarter at $1,805, marking a steep 45.3% drop from its Q4 2024 close of $3,336. This sharp decline wiped out its 2024 gains, bringing ETH back to price levels last seen in 2023. It significantly underperformed compared to other major assets like $BTC, $SOL, $XRP, and $BNB, which saw milder losses.
$ETH trading activity also slowed, with average daily volume falling from $30.0 billion in Q4 2024 to $24.4 billion in Q1 2025. Notably, price drops often coincided with volume spikes, signaling panic-driven selloffs.
The top 10 centralized exchanges (CEXs) recorded $5.4 trillion in spot trading volume – a 16.3% decline quarter-on-quarter.
Binance retained its position as the leading spot exchange, holding a 40.7% market share by the end of March 2025. While its dominance grew over the quarter, its monthly volume dropped significantly – from over $1 trillion in December to $588.7 billion in March 2025.
Artificial intelligence tokens and memecoins led the crypto narrative in Q1 2025, together drawing 62.8% of total investor interest, despite memecoins minted on the popular platform pump.fun experiencing a dramatic drop-off.
STATISTICS | https://t.co/nDFpSnSj5U #MemeCoins Face Mass Extinction – Less Than 1% Survive
The collapse of the memecoin market has contributed to a staggering $1 trillion loss in overall crypto market capitalization.
Analysts warn that this shift in capital allocation may… pic.twitter.com/4npj6Tdkzl
— BitKE (@BitcoinKE) March 15, 2025
AI tokens claimed the top spot in Q1 2025 attracting 35.7% of global investor interest and overtaking memecoins – last year’s leading category – which followed closely with 27.1%.
Among the top 20 crypto narratives for the quarter, six were memecoin-related, while five centered around AI.
The full report can be found here.
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