Finbold’s 2025 cryptocurrency market report paints a picture of a year shaped by stark contrasts, with significant security breaches weighing on sentiment while institutional participation accelerated at record levels.
Throughout 2025, confirmed losses from crypto-related hacks reached $2.78 billion, largely driven by a handful of major incidents in the first quarter. Even so, institutional exposure continued to expand, infrastructure development progressed, and notable shifts emerged in on-chain wealth distribution.
Key insights from the full-year 2025 analysis include:
- Total losses from crypto hacks amounted to $2.78 billion, with almost two-thirds occurring in Q1, followed by a gradual reduction in subsequent quarters.
- BlackRock increased its crypto holdings by $22.52 billion over the year, rising from $54.83 billion to $77.35 billion by 31 December, led by Bitcoin (+$15.98bn) and Ethereum (+$6.62bn).
- The number of Bitcoin millionaire addresses fell by 7,485, leaving 148,084 addresses holding more than $1 million, of which 16,368 exceeded $10 million.
- Global Bitcoin ATM numbers grew by 1,436 machines, with the United States accounting for the largest increase (+498), bringing the worldwide total to 39,158.
- XRP network engagement declined, with total addresses dropping by 1.63 million and active addresses down by 19,588, signalling weaker on-chain participation.
- The estimated value of Bitcoin attributed to Satoshi Nakamoto decreased by almost $6 billion, from $101.52 billion to $95.55 billion over the year.
“2025 underscored the growing divide between institutional conviction and persistent security risks,” said Jordan Major and Diana Paluteder, co-authors of the report. “While crypto hacks reached billions in losses, capital continued flowing into Bitcoin and Ethereum through major institutional portfolios like BlackRock’s. At the same time, on-chain wealth and user activity showed clear signs of consolidation.”
A full overview of Finbold’s 2025 Cryptocurrency Market Report, including interactive charts and detailed rankings, is available here:
https://finbold.com/report/2025-cryptocurrency-market-report
