The cryptocurrency market in 2025 presents a polarized landscape — while the overall market capitalization remains sluggish, various niche sectors are each telling their own stories.

According to the latest industry data, the total market value of crypto assets declined by 10.4% throughout the year, ending at $3 trillion. The fourth quarter was particularly brutal, with a single-quarter drop of 23.7%. This downward trend put pressure on many investors' holdings. Interestingly, amidst the overall market downturn, some niche areas are bucking the trend.

Stablecoins emerged as the biggest winners. This asset class grew by 48.9% over the year, reaching a historic high of $311 billion in market cap. The strength of stablecoins reflects investors' risk-averse behavior amid market uncertainty — stablecoins pegged to the US dollar offer on-chain liquidity advantages while avoiding volatility risks.

The prediction market also demonstrated strong growth momentum. Trading volume in this sector soared by 302.7% year-over-year, surpassing $63.5 billion, making it the fastest-growing niche. The popularity of applications such as political forecasts, sports events, and economic indicator predictions continues to rise, transforming prediction markets from niche tools into mainstream trading categories.

Another highlight comes from the CEX perpetual contract market. This derivatives sector saw a 47.4% increase in trading volume throughout the year, with market participation continuing to grow. Even in a shrinking market cap environment, the appeal of leveraged trading remains strong, indicating that traders' enthusiasm for market speculation has not cooled.

Behind this market segmentation, there is a reflection of the ecosystem's maturity — it is no longer a one-way movement of all-up or all-down, but rather each sector exhibiting differentiated performance based on its fundamentals and market demand. Stablecoin demand remains stable, prediction markets are innovating with new applications, and perpetual contracts maintain ample liquidity — these are the directions in which the market is choosing to invest.