[//]:content-type-MARKDOWN-DONOT-DELETE ![](https://gimg2.gateimg.com/image/ann_en202506101203289530067658.webp) Gate Research has released its latest report, "Gate Research: May Crypto Market Review", which provides a comprehensive summary and analysis of market trends, on-chain data, hot topics, security incidents, funding activity, and upcoming events in the cryptocurrency space. This report offers in-depth insights into the overall performance of the crypto market and key industry trends. **Key Takeaways:** - Market Performance: In May, the total market capitalization of cryptocurrencies exhibited a high-level consolidation trend, continuing the upward momentum from late April driven by eased tariff policies, maintaining a strong overall upward trend. Boosted by the positive impact of the U.S. stablecoin bill "GENIUS" passed, the total crypto market cap reached a periodic high before the bill's approval. As the positive policy effects gradually faded, the market cap experienced a mild correction. - On-Chain Data: Regarding public blockchain data, Solana continued to lead with an average of nearly 100 million daily transactions, solidifying its dominance in high-frequency applications. Base saw a strong performance with transaction volume surpassing 10 million in mid-May. Ethereum maintained high per-transaction value, with stable gas revenue. - Hot Topics: Virtuals saw explosive growth in on-chain activity in May, with daily active addresses surging over 160% month-on-month, exceeding 8,000 and hitting a historical high. The growth was primarily driven by new protocol launches, Web3 gaming, community incentives, airdrop expectations, and active cross-chain arbitrage activities. - Funding Information: In May, the Web3 industry completed 122 funding rounds, totaling $1.92 billion, a 35% decrease month-on-month. Among these, the CeFi sector and blockchain services were the most active, securing $1.29 billion and $274 million in funding, respectively. - Security Incidents: Total disclosed losses from security incidents amounted to approximately $257 million, with over 80% of incidents caused by account hacks and contract vulnerabilities. - Upcoming Events: On June 20, 2025, ZRO will unlock 23.13% of its tokens, valued at over $50 million, expected to significantly impact the market. Additionally, major projects such as FTN, APT, and ENA will also unlock tokens worth over $50 million each, warranting close attention.

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