Bitwise Flags Record Q4 2025 Crypto Fundamentals as Ethereum Price Slides 29%

In Q4 2025, Bitwise data show Ethereum's price dropped 29% even as on-chain activity and wider crypto fundamentals hit fresh records. Stablecoin supply passed $300 billion, TRON posted $1.2 billion in quarterly revenue, and DEX volumes outpaced major centralized platforms. ETH now trades near $2,954.29, around 39% below its all-time high, underscoring the gap between adoption metrics and market valuations.