Glassnode x Gemini:
2025 Trends Report

Discover institutional-grade insights on the key market drivers and trends shaping crypto in 2025.

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A global crypto platform, Gemini offers a wide range of simple, reliable, and secure crypto products and services to professional traders and institutions across more than 70 countries.

Institutional investors leverage Glassnode's industry-leading on-chain analytics to gain unique insights into capital flows, asset fundamentals, and market sentiment in Bitcoin and Ethereum.

The report includes:

Retail Activity

Insights into the resurgence of retail, their capital flows, and speculative behavior across major assets.

Derivatives

An overview of crypto futures and funding rates, highlighting institutional participation.

Solana

A breakdown of Solana’s rising adoption and comparison to ETH on key metrics.



ETF Market Influence

A deep dive into their impact on supply absorption, arbitrage opportunities, and investor flows.

Memecoin Dynamics

Analysis of the sector’s rapid growth, focusing on capital inflows and retail speculation in Solana-based assets.

Regional Focus

Adoption trends across APAC, the US, and Europe, with insights into evolving capital flows.

Key trends to look out for in 2025

Here is a preview of the many essential data-driven insights you will find in the 35-page report.

Retail investors are driving fresh capital inflows

Retail investors have serged back, driving fresh capital inflows into Bitcoin, Ethereum, and Solana. Solana, in particular, has seen a sharp rise in retail participation, surpassing Ethereum in new investor holdings and on-chain activity.

Solana activity surpasses Bitcoin

Solana has registered record-high network activity as its daily active addresses now exceed Bitcoin and Ethereum, reflecting increased adoption and transaction volume.

BTC Price Performance Since Cycle Low Chart by Glassnode

Institutional ETF demand is reshaping the digital asset market

Spot Bitcoin and Ethereum ETFs have absorbed a significant share of circulating supply, with institutional investors holding large unrealized profits. The regulated products are now a major force in price discovery and market structure.

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Disclaimer: The information contained in this report is meant for informational purposes only and should not be interpreted as investment advice.

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