The core characteristics of the cryptocurrency industry in 2025 are "diversification and institutionalization after reaching new highs in total market capitalization."

1. User Base: The total number of global cryptocurrency holders is approximately 716 million. The adoption rate in emerging markets is growing rapidly, with the use of cryptocurrency wallets in Argentina increasing 16 times over the past three years.

2. Full Institutional Participation: 2025 is a landmark year for institutional adoption. Traditional financial institutions (such as Citibank, JPMorgan, Visa) and tech companies (such as PayPal, Stripe) are launching or planning to launch cryptocurrency products and services.

1. Stablecoins

· Scale and Trading Volume: The total supply of stablecoins has exceeded $300 billion. Its annual adjusted trading volume reaches $9 trillion, surpassing PayPal.

· Use Cases: Over 90% of on-chain salary payments are made using stablecoins, indicating its increasingly solid "payment tool" property.

2. DeFi

· Total Value Locked: The total value locked in DeFi surpassed $150 billion in mid-2025, reaching a three-year high.

· Trends: Cross-chain DeFi activity grows by 52% year-on-year, and mobile DeFi users increase by 45%.

3. NFT

· In contrast to the overall market heat, the NFT sector performed poorly in 2025. The total market capitalization fell from a peak of $9.2 billion in January to $2.5 billion in December, a decline of 72%. The floor prices of blue-chip projects generally decreased.

4. Observations on Investment Behavior

A community survey shows:

· Profit Ratio: Nearly 60% of respondents achieved profits in 2025.

· Profitable Sectors: The most profits came from meme coins (dog-themed projects) (about 34%), followed by mainstream coins (about 26%) and DeFi (about 16%).

· Main Causes of Loss: Mainly attributed to "not stopping losses in time after being trapped" and "buying high and selling low" operational issues.

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