Original Title: Half-Year Report 2025
Compiled by: Chopper, Foresight News
In the first half of 2025, the crypto market showed a "first suppressed, then rising" oscillating pattern: the total market value dropped by 18.61% in the first quarter, rebounded by 25.32% in the second quarter, and ultimately increased slightly by 1.99% year-on-year.
Year-to-date, the crypto market total value increased by 1.99%
This dynamic stems from multiple factors:
- The expectation of Federal Reserve rate cuts and regulatory relaxation after the US election in the second half of 2024 pushed the market to reach $3 trillion;
- Inflation stickiness, weak economic data, and universal tariffs implemented by the Trump administration in April 2025 suppressed market sentiment;
- Recent tariff suspension and improved clarity in stablecoin and DeFi regulation have driven market recovery.
Important Event Timeline for the First Half of 2025
The core narrative of the crypto market in the first half focused on Bitcoin investment tools, stablecoins, AI agents, and tokenization of real-world assets (RWA). Looking forward, global monetary policies, trade tariff dynamics, institutional entry, crypto and AI integration, and potential crypto IPOs after Circle will be key points of attention.
[The rest of the translation follows the same professional and accurate approach, maintaining the original structure and technical terminology.]V. Regulatory Landscape
Major Cryptocurrency Regulatory Policies in the First Half of 2025
- United States: Shifting from "enforcement regulation" to "legislative leadership", the CLARITY Act and GENIUS Act clarify digital asset classification and stablecoin rules, promoting institutional compliance.
- European Union: MiCA fully implemented, USDT delisted from some exchanges due to non-compliance, while compliant stablecoins like USDC gain market share.
- Asia: Hong Kong attracts innovation through open licenses and tax incentives; Singapore cracks down on regulatory arbitrage, leading to business relocations.
Second Half Outlook
The Federal Reserve's policy shift, progress in US crypto legislation, TradFi and crypto merger wave, stablecoin payment penetration, and RWA explosion will dominate the crypto market in the second half.
