The cryptocurrency sector began the second quarter on a sour note, with several of its mega-cap coins recording double-digit losses.

加密貨幣行業在第二季度開始以酸味開始，其幾個巨型股硬幣記錄了兩位數的損失。

The total cryptocurrency market capitalization shrank from $3.26 trillion on Jan. 1 to $2.68 trillion at the end of the quarter, marking a 17% decline.

加密貨幣市值從1月1日的3.26萬億美元縮小到本季度末的2.6.8萬億美元，標誌下降了17％。

Market barometer Bitcoin BTC/USD slid 11% year-to-date. Ethereum ETH/USD, the second most valued cryptocurrency, recorded a much sharper decline of 44%.

市場晴雨表比特幣BTC/USD年度逐年滑行11％。 Ethereum Eth/USD是第二大的加密貨幣，其幅度下降了44％。

Top altcoins such as Solana SOL/USD, Dogecoin DOGE/USD, and Cardano ADA/USD also failed to escape the downturn, all shedding more than 20% of their value since 2025 began.

索拉納·索爾（Solana Sol/USD），狗狗幣/美元（Dogecoin Doge/USD）和卡爾達諾·阿達（Cardano Ada）/美元（Cardano Ada/USD）等頂級山寨幣也未能逃脫低迷，自2025年開始以來，它們的價值超過20％以上。

The sector struggled largely due to the economic impact of tariffs imposed by President Donald Trump on key U.S. trading partners.

該行業的鬥爭很大程度上是由於唐納德·特朗普總統對美國主要貿易夥伴的經濟影響。

With more stringent levies expected to be announced on "Liberation Day," the uncertainty around these trade policies has led to a risk-off sentiment.

預計將在“解放日”宣布更嚴格的徵費，這些貿易政策的不確定性導致了風險的情緒。

Notably, Bitcoin's correlation with U.S. equities, including blue-chip averages like the S&P 500 and the Nasdaq Composite, has grown considerably year-to-date, according to The Block, explaining the cryptocurrency market's reaction to U.S. macro triggers.

根據該街區的數據，值得注意的是，比特幣與美國股票的相關性，包括標準普爾500標準普爾500和納斯達克綜合材料等藍芯片平均值，逐年逐漸增長，解釋了加密貨幣市場對美國宏觀觸發器的反應。

See Also: ‘Greatest Of Them All’ TRUMP Memecoin Headed For Trump Media ETFs? Polymarket Bettors Think It’s Unlikely

另請參閱：“他們中的最偉大”特朗普紀念物前往特朗普媒體ETF？ Polymarket Bettors認為這不太可能

That said, some lesser-known cryptocurrencies turned out to be the oases of growth.

也就是說，一些鮮為人知的加密貨幣被證明是增長的綠洲。

FORM, the token of the newly-branded GameFi network Four, blasted off to a 491% rally in the first quarter. The coin set an all-time high of $2.62 last week amid growing interest around its latest product, Four.meme, an ecosystem for meme coins.

Form是新品牌的Gamefi Network四大的代幣，在第一季度爆炸至491％的集會。由於其最新產品Four.meme是Meme Coins的生態系統，因此該硬幣上週將歷史最高的高價設定為2.62美元。

OM, the token associated with the layer-1 blockchain MANTRA, surged 65% to bag the second spot. The over $6 billion-valued cryptocurrency also hit its all-time high of $9.04 in the last quarter.

OM，與第1層區塊鏈咒語相關的令牌，飆升了65％，使第二名​​。上個季度，價值超過60億美元的加密貨幣也達到了9.04美元的歷史最高點。

GateToken, the native token of the Gate.io ecosystem, spiked 34% year-to-date, building on the positive momentum from the end of 2024. The coin has more than doubled its value over the past year, spurring a market capitalization of nearly $2 billion.

Gate.io生態系統的原住民代幣GateToken從2024年底開始以積極的勢頭為基礎34％。在過去的一年中，硬幣的價值增加了​​一倍以上，促使市值達到了近20億美元。