Announcements Gate Research Releases Q1 2025 Report on the Three Major Public Blockchains

Gate Research Releases Q1 2025 Report on the Three Major Public Blockchains

2025-04-23 10:21:08 UTC 52943 Read

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Gate Research has published its *‘Q1 2025 Review of the Three Leading Public Blockchains’*, offering a comprehensive analysis of <a href="https://www.gate.io/learn/articles/btc-quarterly-report-gate-research-q1-btc-network-review/8575?pid=Web&ch=c953W7dC&utm_campaign=TR_xZgkaLt3&utm_content=&utm_medium=CPM&utm_source=CH_79kTf7RP&utm_term=" target="_blank">Bitcoin (BTC)</a>, <a href="https://www.gate.io/learn/articles/eth-quarterly-report-gate-research-q1-2025-ethereum-network-review/8576?pid=Web&ch=LztCAXzr&utm_campaign=TR_e5MCsppi&utm_content=&utm_medium=CPM&utm_source=CH_79kTf7RP&utm_term=" target="_blank">Ethereum (ETH)</a>, and <a href="https://www.gate.io/learn/articles/sol-quarterly-report-gate-research-2025-q1-solana-network-review/8615?pid=Web&ch=YD365aLR&utm_campaign=TR_hSpMl2yu&utm_content=&utm_medium=CPM&utm_source=CH_79kTf7RP&utm_term=" target="_blank">Solana (SOL)</a> in terms of market performance and technical advancements. The report examines price movements, on-chain activity, protocol evolution, and upcoming developments, providing valuable insights for crypto asset investors.

**Key Highlights:**
- **BTC Network Performance:** BTC reached a historic high of $108,228 on January 20, before entering a phase of price correction and volatility. By the end of Q1, its market capitalization had declined by approximately 12% to $1.6 trillion. Despite the correction, on-chain transaction volume rose by 26%, while average transaction fees dropped by 42.5%. The total value locked (TVL) across BTC Layer 2 solutions grew to $2.2 billion, with CORE maintaining its lead. Notably, the emerging protocol Hemi exceeded $200 million in TVL. Key network upgrades centered on enhancing privacy and scalability, with more Layer 2 rollouts anticipated in Q2.
- **ETH Network Dynamics:** ETH’s market cap fell to $217.3 billion in Q1 amid cautious market sentiment. Derivatives activity saw a 34.5% increase in options trading volume, while open interest dipped 6.9%. The number of on-chain addresses surpassed 161 million, with user activity remaining stable, though overall momentum softened. Average gas fees fell by more than 50%, and ETH burn volume declined by over 60% quarter-over-quarter. The total amount of ETH staked reached 27.67 million. While TVL distribution became more fragmented, Aave continued to dominate with $14.3 billion in TVL. The upcoming Pectra upgrade, expected in Q2, aims to enhance scalability and introduce smarter account functionalities.
- **Solana Ecosystem Developments:** SOL surged to an all-time high of $295 before entering a consolidation phase. Derivatives open interest climbed to $4.6 billion. The network averaged 5.2 million daily active users and processed over 95.3 million transactions during the quarter. Decentralized exchange (DEX) daily trading volume soared to $11 billion, a 125% quarterly increase. Meanwhile, DePIN (Decentralized Physical Infrastructure Networks) projects generated weekly revenues of $5.6 million. The market cap of stablecoins on Solana rose 1.43x to $12.1 billion, further energizing on-chain activity. However, the inflation-reduction proposal SIMD-0228 failed to pass, reflecting the community’s cautious approach to adaptive monetary mechanisms.
- **Future Outlook:** The Bitcoin network is poised to further enhance transaction efficiency and script capabilities, thereby improving composability across Layer 2 solutions. Ethereum's Pectra upgrade is poised to be a defining milestone in 2025, potentially transforming the on-chain user experience. Solana will continue strengthening its DeFi and DePIN ecosystems, with stablecoins and deep liquidity as key pillars. Despite recent valuation adjustments, all three blockchains demonstrate strong long-term potential driven by ongoing technical innovation and protocol upgrades.

<center>**Click here to download PDF : <a href="https://gimg.gateimg.com/learn/Gate%20Research%EF%BC%9AQ1%20BTC%20Network%20Review.pdf" rel="nofollow noopener noreferrer" target="_blank">BTC</a>, <a href="https://gimg.gateimg.com/learn/Gate%20Research%EF%BC%9AQ1%202025%20Ethereum%20Network%20Review.pdf" rel="nofollow noopener noreferrer" target="_blank">Ethereum</a>  & <a href="https://gimg.gateimg.com/learn/Gate%20Research%EF%BC%9A2025%20Q1%20Solana%20Network%20Review.pdf" rel="nofollow noopener noreferrer" target="_blank">Solana</a>**</center>

**Gate Research** 
Gate Research is a comprehensive blockchain and crypto research platform that provides readers with in-depth content, including technical analysis, hot insights, market reviews, industry research, trend forecasts, and macroeconomic policy analysis.

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Gate.io Team
April 23, 2025
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Gate Research Releases Q1 2025 Report on the Three Major Public Blockchains

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