Dubai — Finbold’s 2025 cryptocurrency market report reveals a year defined by sharp contrasts, as large-scale security breaches weighed on the market while institutional adoption accelerated at an unprecedented pace.
Across 2025, crypto hacks resulted in $2.78 billion in confirmed losses, heavily skewed by several major incidents early in the year. Despite this, institutional players expanded their exposure, infrastructure continued to grow, and on-chain wealth dynamics shifted significantly.
Key Findings from Full-Year 2025:
Crypto hacks totaled $2.78 billion in losses, with Q1 accounting for nearly two-thirds of the annual figure, followed by a steady decline across the remaining quarters.
BlackRock expanded its crypto portfolio by $22.52 billion, growing from $54.83 billion at the start of the year to $77.35 billion by December 31, driven primarily by Bitcoin (+$15.98B) and Ethereum (+$6.62B).
Bitcoin millionaire addresses declined by 7,485, leaving a total of 148,084 addresses holding over $1 million, including 16,368 holding $10 million or more.
Bitcoin ATM installations increased globally by 1,436, with the U.S. leading growth (+498), pushing the worldwide total to 39,158 machines.
XRP activity weakened over the year, with total addresses down 1.63 million and active addresses falling by 19,588, reflecting reduced on-chain engagement.
The estimated value of Bitcoin linked to Satoshi Nakamoto fell by nearly $6 billion, declining 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.”
