Following Donald Trump's election in November 2024, the cryptocurrency market has shown unexpected results in 2025. Bitcoin has strengthened its position while altcoins, particularly Ethereum, face significant challenges.
Overall Condition of the Cryptocurrency Market
By the end of the first quarter of 2025, the total cryptocurrency market value had dropped by 18.6%, totaling $2.8 trillion. Bitcoin has increased its dominance, with a share of 59.1%, the highest since early 2021.
Issues with Ethereum
Ethereum has seen a sharp decline, with its price falling from $3,336 to $1,805 in the first quarter of 2025, effectively erasing all gains from 2024. "Ethereum erases all gains from 2024 and returns to levels seen in 2023," an analyst noted.
Solana's Dominance and the Impact of Memecoins
Solana maintained its dominance in DEX trading, accounting for 39.6% of all trades in Q1 2025. In January, Solana held 52% of on-chain transactions among the top 12 blockchains. However, as the trend surrounding memecoins receded, Ethereum managed to reclaim the top position with a 30.1% market share compared to Solana's 23.4%.
The cryptocurrency market shows significant volatility. Bitcoin strengthens its position following the elections, while Ethereum faces challenges, highlighting the ever-changing nature of the industry.
