PANews reported on April 17th that according to BeInCrypto, based on CoinGecko's quarterly report, the total cryptocurrency market value sharply declined by 18.6% in the first quarter of 2025, with losses reaching $63.35 billion. As token prices fell, investor activity noticeably decreased, with daily trading volume dropping by 27.3% compared to the end of 2024. Among this, spot trading volume on centralized exchanges decreased by 16.3%, which CoinGecko analysts believe is at least partially related to the Bybit exchange hacking incident.
In the first quarter of 2025, Bit's market dominance strengthened, accounting for 59.1% of the total cryptocurrency market value. Since 2021, Bit has never reached such a high market share, demonstrating its stability relative to other cryptocurrencies. However, Bit's price also dropped by 11.8%, performing worse than gold and US Treasury bonds. The report also showed that losses for other cryptocurrencies were more severe. Ethereum's entire gains accumulated in 2024 completely disappeared in the first quarter of 2025, and the total locked value (TVL) of multi-chain DeFi also declined by 27.5%.



