H1 2025 Encryption Market Report-Market Trends, Main Indicators and Institutional Trends

After reaching $ 3.7 trillion in the fourth quarter of 2024, the encryption market entered the country with a weak exercise in 2025. Bitcoin has recorded $ 109,000 and $ 2.1 trillion due to ETF inflow and favorable macro trends.

But H1 2025 saw a sharp slowdown. The total market capitalization fell to $ 2 trillion before it recovered to $ 3.31 trillion by July 1. Bitcoin has experienced major flaws, but rebounded to a new $ 1,112 k ATH, supported by strategy and steady purchase of Metaplanet.

Macroeconomic pressure added to volatility. The Fed has a top at 4.25%-4.5%, and inflation is normal at 2.4%. Designated tensions, including US-HINA tariffs and Middle East instability, have superior to investors. Nevertheless, Crypto showed the resilience and was supported by regulatory clarity and increased demand in emerging markets.

Investor feelings were very volatile. Fear & Greed Index plunged from December 94 to March 10, but recovered to 64 from July. Nevertheless, emotions remain in the range of 40 to 65, and sends attention to the market.

Market overview

Metrics	January 1	June 30th
Total market cap	$ 3.26	$ 3.28
Monthly	$ 2.32	$ 1.07
Bitcoin domination	56.8%	64.0%
Ether Leeum domination	12.3%	8.0%
The rest of Altcoins	31.5%	26.0%
Fear and greed index	66	65

Bitcoin performance

Metrics	January 1	June 30th	Attention
Bitcoin price	$ 94,951	$ 108,800	Increased profit by 12%
Replacement reserve	2.89 million BTC	2.44 million BTC	Indicates higher accumulation
ETF inflow	$ 5.5 billion (monthly)	$ 46 billion (monthly)	A slightly low inflow
Active address	827k	900K	Increase shows demand

Main event

• Institutions and government accumulation: Strategies, Metaplanet and other national governments have added BTC.
• The designated dip caused by wars such as Iran-Israel and the US tariff threats caused a short slide.

Ether Leeum Performance

Metrics	January 1	June 30th	Attention
Ether Leeum price	$ 3,366	$ 2,524	Interest decreases 27%
Replacement reserve	19.5 million ETH	19.02 Million ETH	A slight difference in reserves show less accumulation.
ETF inflow	$ 111.6 million (monthly)	$ 1.6 billion (monthly)	The growth of 10 times inflow has been witnessed
Active address	372K	356K	The number of unique addresses is slightly reduced

Major events and development

• Continuous protocol upgrades, stablecoin and defi activities are still strong.
• Institutional flow to ETF has increased significantly.
• Prices have been suppressed due to designated scientific factors.

Best category analysis

category	Notable tokens	H1 trend summary
Layer 1	SOL, ADA, AVAX	Bright growth and ETF probability led by the expansion of ecosystems.
Floor 2	OP, ARB, MATIC	Strong profits increased as the adoption of scaling increased.
Meme coin	Dog, Sive	It is volatile as the ETF probability rises, but it is especially brought.
AI token	FET, RNDR, Agix	Sorted momentum with AI and encryption crossovers
Game/Meta Bus	Sand, Ax, Gala	Humor growth is witnessed
Defi	Uni, AAVE	It is obtained from chain activities and demand demand

Best

cryptocurrency gainers	Hundreds of percentage gains (H1 2025)	Main catalyst
Mono (XMR)	$ 186 ~ $ 318 ~ 71%	A significant price surge due to the increase in demand for privacy -oriented cryptocurrency.
Hyper Liquid (overdue advertising)	$ 22 ~ $ 39 ~ 74%	Fast growth has improved liquidity and user participation.

Top loser

Cryptocurrency loser	Hundreds loss loss (H1 2025)	Main catalyst
Bitcoin SV (BSV)	$ 55 ~ $ 24 ~ -45.23%	Reduction of regulatory uncertainty and investor trust due to competition and security issues ..
PI network (PI)	$ 2.99 ~ $ 0.48 ~ -36%	The price dropped because of its weak market sentiment and not satisfying adoption expectations.

Stablecoin performance and market share

Metrics	january	June	Attention
Market cap	$ 120 billion	$ 251.55 billion	A significant increase in total market cap.
Stablecoin market cap share	7.9%	8.9%	STABLECOIN’s market share is exceeding the market share.
Warm chain	$ 982 billion	$ 1.39	Increased chain trading volume.

In the first half of 2025, the company recorded a new stage of the Evolution of Staybletcoin, which rose in size, changed its dominance, increased institutional adoption, and increased legislative support. USDT and USDC are dominant, but small players such as Pyusd, RLUSD and DAI have slightly expanded their market share. TRON and SOLANA have traction with the new lunch pads, but Ether Lee continues to be the basic stable coin settlement.

Encryption ETF performance

• US Bitcoin Spot ETF has recorded a cumulative inflow of $ 48.7 billion.
• Bitcoin ETF’s total net assets amounted to $ 1341.1 billion as of June 30.
• Bitcoin ETF Holdings accounts for 6.27%of the total Bitcoin market cap.
• The US Ether Leeum Spot ETF has seen the cumulative inflow of $ 4.22 billion.
• Etherum ETF’s total net assets amounted to $ 103.2 billion as of June 30.
• Etherum ETF Holdings is equivalent to 3.42%of Bitcoin’s market cap.
• In -kind repayment mechanisms are gaining popularity for assets such as Dogecoin (Doge) and Aptos (APT).
• There are 72 ALTCOIN ETF applications that are currently being approved for regulatory.

Dawning sector outline

• Defi’s total value lock (TVL) increased from $ 86 billion to $ 110 billion by June 2025, increasing the inflow of capital.
• AAVE dominated the loan market with more than 60% and more than $ 16 billion.
• The AAVE V3 protocol continued to attract collateral, and expectations for the launch of the V4 have raised their trust.
• DEX, such as Uniswap, Jupiter, and PancakeSwap, increased network activities to support higher fees and reactions of Defi.
• DEX without Hype’s fees has enhanced user activities in several chains.
• Hype’s loan protocol has also gained traction for the H1 2025.
• AAVE loans have been APY between 5% and 8% since 2024 due to high TVL and decrease in dangerous premiums.

Important news and events

• In 2025 H1, almost 334-344 hacking caused $ 2.2 -$ 2.5B loss, including $ 1.5B of BYBIT.
• The company in Procap and Grant Cardone entered the Bitcoin Financial Race to strengthen the adoption of corporate encryption.
• The US SEC signals the openness of spot repayment of encryption ETFs and has made speculations about the approval of Altcoin Fund in the future.
• Norway is exploring the ban on encryption mining, and Kazakhstan is exploring national encryption reserve troops.
• Metaplanet and strategy actively expanded their stake in BTC, indicating a long -term preliminary asset to transition to corporate finance to Bitcoin.
• RIPPLE dropped cross Africher from the SEC case to open a way to a places close to many legal battles.
• The World Liberty Financial (WLFI), supported by the Trump family relationship, has expanded its interest in RWA and Defi by expanding USD1 Stablecoin on the BNB chain.

Final prospects for H2 2025

Despite all the ups and downs, H1 2025 has proved how flexible the encryption market is. Bitcoin has soared to the new maximum $ 112K and the overall market rebounded to $ 3.31 trillion.

If the strength increases now, Bitcoin will be $ 180,000-$ 200,000 by 2025, Ethereum $ 5,000-$ 6,000, which can be promoted by future Fed Rate Arfs, ETF inflow and stablecoin payment methods. Defi also restores momentum to $ 112B on TVL, and institutional interest is increasing. When Altcoin ETF and large players enter the space in Horizon, the H2 2025 can be set for the main brake out, which can take the total market cap at $ 4 -$ 5 trillion.

FAQ