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Cryptocurrency Report from CoinGecko: How Is Ethereum's DeFi Share Doing? - Coin Newsletter
In the first quarter of 2025, the total value of decentralized finance (DeFi) decreased by $48.9 billion, causing a decline in the cryptocurrency market due to global trade tensions and macroeconomic uncertainties.
The huge interest in cryptocurrencies at the beginning of 2025 gave way to a volatile market environment in the first quarter. Global trade wars and economic uncertainties have had a negative impact on the DeFi** sector, reducing the total depreciation in this area by **27.5%****. According to the CoinGecko report, this decrease was largely due to the decline in the prices of altcoins.
The Ethereum (ETH)** suffered a massive loss of value at the beginning of the year, falling from $3,336 to $1,800**. This reduced Ethereum's share of the DeFi market from 63.5% to 56.6%**, resulting in a loss of approximately $40 billion. But despite Ethereum's decline, networks like Solana and Base have gained market share.
In the first quarter of 2025, interest in meme coins has also weakened. In particular, the speculation around the Libra meme coin cost investors $251 million. Despite these developments, the trading volume on Solana's decentralized exchanges continued to be traded more than its competitors in the industry.
Although the cryptocurrency market experienced a major downturn in the first quarter of 2025**, Bitcoin's (BTC)** market dominance increased to 59.1%, indicating that investors still maintain confidence in Bitcoin.