Spring 2025 kicks off with a series of major events in the crypto world. Bybit is pulling back from Web3 services, public miners are hitting record levels of Bitcoin sell-offs, and major players are launching new infrastructure projects. At the same time, central banks are adjusting their policies in response to global economic challenges. Let’s break down what’s happening and what market participants should prepare for.
Bybit Winds Down Web3 Direction
One of the largest crypto exchanges — Bybit — has announced plans to shut down most of its Web3 services. While the company didn’t disclose specific reasons, its team stated that the move reflects a reevaluation of strategic priorities and a focus on “core products and community needs.”
Services related to decentralized applications, wallets, and NFTs will be gradually phased out starting in the second quarter of 2025. Users are advised to withdraw their funds and data by the set deadline.
The decision came as a surprise, especially amid the rapid growth of Web3 in recent years. However, considering increased regulatory pressure and rising costs of maintaining such products, Bybit’s move may be a rational one.
Binance Assisting Countries in Building Crypto Reserves
Amid rising geopolitical and economic instability, Binance’s CEO revealed that the exchange is advising several countries on building national crypto reserves.
According to him, such measures are becoming more relevant due to fiat currency devaluation and some governments’ desire to diversify their reserves and partially transition to digital assets.
This highlights the ongoing institutionalization of the crypto market and the growing role of exchanges as strategic partners for governments. Although no specific countries were named, analysts speculate these may include developing economies or nations with unstable financial systems.
Miners Sell 40% of Mined BTC – Highest Since October 2024
March 2025 proved to be a tough month for public mining companies. According to analysts, they sold around 40% of the Bitcoin they mined — the highest level since October of last year.
The main reason: rising operational costs and import duties imposed by several countries. Companies in North America and Europe were particularly hard hit. Many were forced to lock in profits and replenish fiat reserves to cover current expenses.
This puts pressure on the market: increased BTC supply from miners may temporarily lower the price, especially amid weak demand. However, in the long term, such corrections often lay the groundwork for future growth phases.
New RWA Blockchain by Ethena and Securitize
Companies Ethena and Securitize have announced the launch of a new blockchain focused on real-world assets (RWA). The platform will target the tokenization of bonds, stocks, real estate, and other financial instruments.
The project is set to launch in Q2 2025, with the goal of creating a transparent and legally reliable infrastructure for integrating traditional finance with the crypto industry.
Given the growing global interest in RWAs, this initiative could become a key milestone in bridging TradFi and DeFi. Several major investment funds and banks are expected to join the project.
ECB Cuts Rate Amid Rising Tensions
The European Central Bank lowered its interest rate by 25 basis points — the first cut in quite some time. In its statement, the ECB cited deteriorating economic outlooks, largely due to trade and geopolitical tensions.
The rate cut may put pressure on the euro and increase interest in alternative assets like gold and cryptocurrencies. Markets have already responded with increased volatility, and some analysts predict the U.S. Federal Reserve may also ease monetary policy in the coming months.
Spring 2025 highlights several key trends: Web3 contraction, strengthened institutional approach to crypto assets, tougher conditions for mining, and expansion of RWA infrastructure.
Regulators, exchanges, and companies are all adjusting their strategies — some scaling back their ambitions, others leveling up. This reflects not only adaptation but also the market’s growing maturity.
The crypto market is evolving, and its impact on the global economy continues to grow.
