PANews reported on April 17 that according to BeInCrypto, according to Coingecko's quarterly report, in the first quarter of 2025, the total market value of cryptocurrencies fell sharply by 18.6%, with a loss of up to $633.5 billion. As token prices fell, investor activity decreased significantly, and daily trading volume fell 27.3% month-on-month from the end of 2024. Among them, the spot trading volume of centralized exchanges fell by 16.3%. Coingecko analysis believes that this is at least partly related to the hacking of the Bybit exchange.

In the first quarter of 2025, Bitcoin's market dominance increased, accounting for 59.1% of the total cryptocurrency market capitalization. Bitcoin has not reached such a high market share since 2021, which shows its stability relative to other cryptocurrencies. However, Bitcoin prices also fell by 11.8%, underperforming gold and U.S. Treasuries. The report also shows that other cryptocurrencies have suffered even more severe losses. All the gains accumulated by Ethereum in 2024 disappeared in the first quarter of 2025, and the total locked value (TVL) of multi-chain DeFi also fell by 27.5%.