Three Trends That Defined Crypto in Q2: An ETH Lead, a DEX Rise, and a Blockbuster IPO
CoinGecko’s 2025 Q2 Crypto Industry Report is out, and it shows some very interesting data regarding Ethereum and the rest of the industry. Mainly, ETH price surged 36.4% from $1,805 to $2,488, outperforming BTC, SOL, XRP, and BNB.
Additionally, Ethereum was the only top‑7 altcoin to gain dominance (+0.8 percentage points to 8.8%).
When it comes to transactions, Ethereum daily transactions rose from 1.2 million to 1.3 million, while gas fees dropped (down from a daily average of 6.9 to 3.5 Gwei).
As for Bitcoin, it soared past $100k, increasing its market dominance to 62.1%, up by 3 percentage points in Q2.
The overall cryptocurrency market capitalization saw a big rebound in Q2, increasing by over $663.6 billion, which represented a 24.0% surge to conclude the quarter at $3.5 trillion.
Nonetheless, even as the overall crypto market regained value, the daily trading activity saw a persistent decline, dropping by 26.2% quarter-on-quarter to reach $107.8 billion.
In Q2 of 2025, major centralized cryptocurrency exchanges (CEXs) processed $3.9 trillion in spot trading volume, which is a rather notable 27.7% decrease from the $5.4 trillion recorded in Q1.
On the other hand, decentralized exchanges (DEXs) spot volume rose by 25.3% quarter-on-quarter to $876 billion. Interestingly, PancakeSwap took a 45% market share, fuelled by Binance Alpha routing.
Also, perpetual trading on DEXs reached $898 billion in Q2, marking a new all-time high.
Solana-based decentralized exchanges like Orca, Meteora, and Raydium experienced a decline in activity, with their volumes dropping by 40.5%, 56.8%, and 73.4%, respectively, compared to the previous quarter.
Another interesting piece of information is that the Circle’s IPO on the NYSE (New York Stock Exchange) on June 5, 2025, generated considerable enthusiasm among other cryptocurrency firms looking to go public in the US.
While many thought it was overpriced, the IPO proved to be a resounding success, being oversubscribed by more than 25 times. It jumped from $31 to $83 on day one and eventually peaked at $299, translating to an 865% boost.
The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
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