Market-leading Industry Reports

Discover the major trends and numbers driving crypto fundraising. Our Q3 2025 recap reveals where venture capital is heading and which projects are poised to define the industry’s future.

The third quarter of 2025 brought a historic milestone: crypto officially became part of the global financial system, which impacted the further dynamic of the entire industry. In this quarterly market recap, we cover the main events of the past quarter that are shaping the current landscape.

August brought a mix of corrections, record-breaking activity, and continued growth across the crypto market. Bitcoin experienced a modest pullback after a strong rally, while Ethereum reached new highs. The market saw growing institutional adoption and global market maturity in crypto as investors prefer projects with real use-cases and revenue over memecoins.

Crypto regulation in the U.S., Bitcoin’s new ATH, a DeFi boom, and record-breaking NFT volumes. July turned out to be a pivotal month for the crypto market. Explore it in a detailed recap of the month’s key events and trends.

This article highlights the key trends and figures in crypto fundraising. If you want to see where venture capital is flowing and which projects are set to shape the future, read our Q2 2025 crypto fundraising recap.

If you want to understand how Bitcoin performed relative to the S&P 500 and gold, which metrics signaled the price rallies in Bitcoin and Ethereum, and what unfolded across the RWA, stablecoin, and memecoin sectors — this is your go-to summary.

In May, Bitcoin hit a new all-time high amid rising institutional demand, while Ethereum’s Pectra upgrade improved staking and L2 performance. Hyperliquid led all blockchains in activity, and Pumpfun expanded its memecoin dominance. Markets calmed as U.S. tariffs softened, but uncertainty lingered.

In April, after Trump’s tariff-driven volatility, markets began to recover. Bitcoin outperformed traditional assets, while altcoins had mixed results. The OM token lost $5.5 billion in a liquidity crisis, while Monero saw strong gains driven by rising demand for privacy.

Q1 2025 marks the beginning of a new chapter for the crypto industry. With Donald Trump entering the White House as the 47th President, U.S. policy on crypto is expected to play a major role in shaping the industry's future. But that’s not all — broader shifts in the global economy are also creating both new challenges and fresh opportunities for crypto. We're already seeing a move away from memecoins and speculative hype toward stablecoins and more fundamentally driven developments.

Explore the latest state of the crypto venture capital market and learn why 2025 will be a game-changing year for crypto.