📊 Crypto Trading Volume Dropped 40% in Q1 Amid Tariff Fears

gm Defiers!

In a turbulent Q1 2025, the crypto market struggled with significant declines, however, Bitcoin held steady amid the chaos. Meanwhile, Magic Eden expanded its DeFi reach by acquiring Slingshot.

In other news, Berachain faced capital outflows alongside a sharp drop in active users, while both DEX and CEX trading volumes dropped substantially in March.

✍️ In today’s newsletter:

Crypto market trading volume drops 40% in Q1
Magic Eden expands its onchain trading footprint
Berachain records steep capital outflows
DEX and CEX trading volumes drop in March
Bitwise CIO says tariffs could boost BTC
GMX proposes move to Botanix

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📊Crypto Market Struggled Throughout Q1 as Tariffs and Fear Persisted, But Bitcoin Held Steady

The crypto market struggled throughout Q1 2025, with trading volume plummeting 40.65% compared to previous quarters. The overall crypto market capitalization also fell by 17% in Q1.

💰Magic Eden Acquires Slingshot Finance

Magic Eden, a Solana NFT marketplace, is acquiring Slingshot to expand into onchain token trading and build a more comprehensive DeFi platform. The move combines Slingshot’s user-friendly crypto trading app with Magic Eden’s scale.

💸Berachain Suffers $300 Million in Net Outflows

Berachain has been recording steep capital outflows and user drop-off, with $308 million in net outflows and a 61% decline in daily active users since March 3. Its native token BERA is also down 40% in the past week.

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Stablecoins are exploding, projected to hit $230 billion in 2025, bridging traditional finance and blockchain. Leaders like Tether and Circle, alongside innovations like Ethena’s yield-generating USDe, are driving adoption. They’re slashing cross-border payment times and costs, and powering DeFi’s growth. But are they a valuable inroad for institutions or a Trojan horse? As on-chain finance continues to grow and innovate, banks and other established financial institutions face a choice: adapt or risk obsolescence. Will stablecoins empower traditional finance to capitalize on the new value being generated by Web3, or serve as the seed for decentralization? Platforms like Stellar that enable compliant issuance may offer a middle path.