As 2025 ends with a typical crypto slump, it’s time to reflect on the past 12 months. This year saw new All-Time Highs, the largest exchange hack in history, and more confusing regulations. Here’s your mildly cynical 12-month recap of crypto’s wild ride.
January:
The market began with a frenzy of Layer-2 scaling solutions on Ethereum and other chains, focusing on faster, cheaper transactions. Meanwhile, the Real World Assets (RWA) narrative gained serious institutional attention.
February:
A significant reminder of custody’s central failure came with Bybit’s $1.4 billion hack, the largest crypto theft ever. Despite the market’s recoil, innovative protocols on Solana and EVM chains quickly recovered.
March:
A mini-bear market emerged, with maximalists tweeting “I told you so” as prices dropped due to a hawkish Federal Reserve statement. AI-integrated crypto tokens were the exception, temporarily decoupling from the dip.
April:
The “Tax Day Dip” was surprisingly shallow, suggesting investors were busy filing DeFi yield reports. The month saw slow upward progress, labelled as “healthy consolidation” by analysts and “boring” by others.
May:
Bitcoin 2025 Las Vegas dominated news, but DeFi 2.0 gained momentum, with regulated products bridging traditional finance and decentralised exchanges. Ethereum flirted with a major price breakout.
June:
Bitcoin surpassed $100,000, boosting altcoins. Ethereum (ETH) excelled, briefly stealing market dominance as dApp usage hit new highs.
July:
A healthy rally occurred as the predicted global recession didn’t materialise, leading to institutional inflows. The crypto world buzzed with conferences, pretending to grasp the latest Zero-Knowledge proof technology.
August:
Summer consolidation continued, with Solana and Avalanche holding support. Rumours of a major sovereign wealth fund buying Bitcoin calmed altcoin traders.
September:
ETF buying surged, pushing toward new highs. Traditional finance firms filed for single-asset spot ETFs for coins like XRP and Solana, which the market loved.
October:
ATH ALERT! The total crypto market cap hit new highs, sparking euphoria. However, a $19 billion leverage wipeout followed, reminding everyone of DeFi’s gravity.
November:
A classic “sell the news” event saw altcoins lose 20-30% of their value. Sentiment worsened, with retracements and fewer new token launches, marking a proper HODL check month.
December:
The year ended with the market around a $2.5 trillion total cap in a “vulnerable technical environment.” The mood was cautious optimism, mixed with residual sadness for not selling at the top.
Better luck in ’26.
Written by Matty White
