In the first quarter, the cryptocurrency market fell by $633 to reach 39.63, with a drop in trading volume for both centralized and decentralized exchanges. Bitcoin’s market dominance rose to 59.1%, though it underperformed compared to gold and US bonds over the quarter. After starting 2025 on a positive note, the crypto market experienced substantial losses by the end of the first quarter. The latest quarterly report from CoinGecko indicates that the market capitalization fell by 18.6%, which translates to a decrease of $633.5 billion. Among the tokens, Bitcoin emerged as the top performer. Its market share reached 59.1%, the highest it has been since early 2021, as investors moved away from riskier tokens such as TerraUSD and Luna. In the past year, Bitcoin experienced a reduction of 10.3% in its market share, whereas Ethereum fell to a market share of 7.9%, its lowest point in five years. Conversely, Bitcoin initially soared above $100,000 in January but decreased to $82,514 by the end of the first quarter, marking a decline of 210%. Nonetheless, Bitcoin outperformed the Nasdaq Composite, which fell by 216.3% over the same timeframe. Nonetheless, it lagged behind gold, which increased by 25.4%, and U.S. Treasuries, which saw gains due to conflicts and shifts in monetary policy. Source: CoinGecko. Additionally, Ethereum (ETH), which had performed remarkably at a level of 240.7, has since lost all the gains from that period. Nonetheless, the overall value locked in the decentralized finance (DeFi) sector across various blockchains dropped to $211.4 billion, reflecting a decline of 239.6%.
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