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Coingecko: In Q1 of this year, the total market capitalization of the crypto market fell by 18.6% to $2.8 trillion, while Bitcoin strengthened its dominant position against the trend

ChainCatcher news, according to the Coingecko quarterly report, the total market capitalization of cryptocurrencies fell by 18.6% to $2.8 trillion in the first quarter of 2025. Bitcoin further solidified its dominance in the market downturn, with its market share rising to 59.1% (a new high since 2021), while altcoins generally performed poorly. The shares of stablecoins USDT and USDC increased, while Ethereum's market share dropped to a five-year low of 7.9%.​1. Bitcoin outperforms traditional risk assetsBitcoin broke through $100,000 in January, reaching an all-time high, but ended the quarter at $82,514 (a decline of 11.8%). Its performance outpaced the Nasdaq index (down 10.3%), but lagged behind gold (up 18%) and U.S. Treasury bonds. Analysts pointed out that the strengthening of the yen and euro, adjustments in monetary policy, and geopolitical uncertainties have intensified market volatility.​2. Ethereum and altcoins under pressureEthereum's price plummeted 45.3% to $1,805, erasing all gains made in 2024, with daily trading volume shrinking to $2.44 billion. Leading altcoins like Solana (SOL), XRP, and BNB experienced smaller pullbacks, highlighting Ethereum's relative weakness. Meme coins suffered a significant setback due to the exit of Argentine President Javier Milei's related project LIBRA, with daily token deployment on the Pump.fun platform dropping by 56.3%.​3. Changes in exchange landscapeThe spot trading volume of centralized exchanges (CEX) decreased by 16.3% to $5.4 trillion, with Binance maintaining a market share of 40.7%; HTX became the only platform in the top ten to see growth (+11.4%), while Bybit's trading volume was halved due to a hacking incident in February. Among decentralized exchanges (DEX), Solana led Q1 with a 39.6% share, but Ethereum briefly reclaimed the top spot in March. The total value locked (TVL) in DeFi fell by 27.5% to $12.86 billion, while the new public chain Berachain's TVL rose against the trend to $5.2 billion.

The Governor of the Central Bank of Russia suggests banning cryptocurrency participation in domestic settlements and strengthening penalties

ChainCatcher news, according to Cryptonews, Russian Central Bank Governor Elvira Nabiullina emphasized again on April 3 during a speech at the State Duma that the use of cryptocurrencies in the domestic economy should be restricted and advocated for stricter penalties for violations of the ban. Nabiullina, a key ally of President Putin, currently leads the Central Bank of Russia's sovereign digital currency (digital ruble) project. She pointed out that while the central bank supports exploring the cross-border application of crypto assets within a specific "regulatory sandbox" framework, it firmly opposes their infiltration into the domestic monetary system and settlement activities.Since 2020, Russia has banned payments in cryptocurrencies, but current enforcement is relatively lax, and there is a lack of a clear legal framework for related transactions. Nabiullina called for increased legal accountability for the use of cryptocurrencies for payments within Russia, stating: "Our position has not changed. We cannot allow cryptocurrencies to penetrate domestic monetary circulation and domestic settlements. We suggest seeking investment opportunities in cryptocurrencies while increasing the responsibility for using cryptocurrencies in domestic settlements." Nabiullina also supports allowing "high-net-worth qualified investors" to invest in crypto assets within the "sandbox" and proposed discussing the extension of some derivative investment permissions to ordinary qualified investors. She emphasized the need to protect retail investors from the risks posed by the highly volatile crypto market.Furthermore, after Nabiullina's speech, Anatoly Aksakov, chairman of the State Duma's Financial Market Committee, pointed out that there are still differences in Moscow regarding cryptocurrency regulation. There are clear divisions within the Duma on crypto regulation, with some members supporting restrictions while others show strong interest.
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