Author: CoinGecko Compiled by: Deep潮 TechFlow In the last quarter of 2025, the crypto market experienced a sharp correction, with total market capitalization plummeting 23.7% to end at $3 trillion. This marked the first annual decline since 2022, with a year-over-year decrease of 10.4%. Although the quarter once hit a record high of $4.4 trillion, a historic $19 billion liquidation event in October caused prices to drop sharply. Despite the price correction, market volatility drove the daily average trading volume to a yearly high of $161.8 billion, while the stablecoin market grew 48.9% year-over-year, reaching a record high of $311 billion. This year, the crypto market showed signs of decoupling from traditional assets, with gold rising 62.6%, the US stock market performing strongly, while Bitcoin declined 6.4%.