According to the "2025 First Quarter Crypto Industry Report" released by CoinGecko, the crypto market experienced a pullback in the first quarter of 2025, with a total market value falling 18.6% to US$2.8 trillion; Bitcoin's market share rose to 59.1%, but the quarterly decline was still 11.8%. Ethereum fell 45.3%, falling back to $1,805, erasing all gains in 2024. The Meme currency sector has receded due to the LIBRA runaway incident, and the deployment of Pump.fun has dropped by 56.3%. CEX spot transaction volume reached US$5.4 trillion, a month-on-month decrease of 16.3%; Solana maintained its dominant position in DEX trading, accounting for 39.6%. DeFi multi-chain TVL fell by US$48.9 billion, a drop of 27.5%.