🚀 Crypto Market Roars Back: Hits $3.5 Trillion in Q2 2025 – CoinGecko Confirms Bull Run

The crypto market just pulled off its Lazarus act—rising from the ashes of last year's 'crypto winter' to a staggering $3.5 trillion valuation. CoinGecko's latest report confirms what degens already knew: the bulls are back in charge.

Not your grandma's portfolio filler

Forget bonds and gold—digital assets just schooled traditional finance (again). The rebound wasn't gradual; it was a parabolic leap that left Wall Street analysts scrambling to update their 'blockchain is a fad' PowerPoints.

Institutions FOMO-ing like retail traders

BlackRock's Bitcoin ETF now holds more BTC than MicroStrategy. Pension funds are quietly allocating 3-5% to 'alternative digital assets' (translation: they bought the dip). Meanwhile, crypto Twitter is having a field day with 'I told you so' memes.

The lesson? Markets move faster than bureaucrats can regulate them. Just ask the SEC—still trying to define a security while the train leaves the station. One thing's certain: when the next correction hits, the suits will be the first to paper-hand. Diamond hands prevail.

• The crypto market regained $663.6 billion in Q2 2025, ending at $3.5 trillion in total market cap
• Bitcoin hit new highs above, growing its dominance to over 62%
• Decentralized exchanges saw record growth in both spot and perpetual trading volumes

During the second quarter of 2025, the cryptocurrency market saw a decisive reversal. After a rocky start to the year, the cumulative market cap increased 24% to restore the previous year’s high of $663.6 billion, closing the quarter at $3.5 trillion, around the high points of January, according to CoinGecko.

In spite of Bitcoin reaching a new high and the IPO of Circle reinvigorating the space, decentralized exchange spot volumes through Binance and Crypto.com decreased for the second consecutive quarter.

Trading volume decreased by 27.7% to $3.9 trillion. Binance was still the market leader but continued to see volumes decline. Rivals such as MEXC and HTX made gains through minor quarterly increases.

Circle’s IPO added some sparkle to the market, having last week been 25 times oversubscribed at a high of $299 per share, up 864.5% from the listing price. The successful listing of Circle presaged yet more IPOs, and the spotlight has since fallen on other similar entities like Kraken and Grayscale.

Bitcoin Leads, Altcoins Trail Behind

Only the leading altcoin, Ethereum, ROSE slightly in dominance. Other tokens, even large stablecoins and sidechains, saw their percentage fall. The ‘Others’ category dropped to 13.7%, showing how investor support for less popular tokens has ebbed for the moment.

Q2 Crypto Shift: DEXs Dominate as Spot and Perp Volumes Surge

One of the most significant trends throughout the quarter was the shift from centrally operated platforms to decentralized ones. Spot volume of DEXs grew 25.3% to achieve $876.3 billion.

PancakeSwap experienced the highest jump, rising more than 500% to capture the biggest DEX position. It was spurred by Binance Alpha’s launch, which now routes trades through PancakeSwap. It also pushed BSC to the top blockchain for decentralized trading, beating out ethereum and Solana.

Global decentralized trading also hit a new high. Hyperliquid led the pack with a volume of $653.2 billion and a 72.7% market share. Though newer exchanges such as Aster and RabbitX were gaining traction, veterans such as dYdX lost more ground.