In the first quarter of 2025, the cryptocurrency market continued to focus on familiar themes, predominantly favoring AI tokens and memecoins. According to CoinGecko's quarterly report, these categories together accounted for 62.8% of investor interest, with AI tokens leading at 35.7% and memecoins following closely at 27.1%. The report highlighted that six of the top 20 narratives were memecoin-related, while five pertained to AI. Despite the absence of emerging narratives, the fascination with these themes persisted, particularly with the launch of the Official Trump memecoin coinciding with Trump's inauguration in January. However, concerns were raised about diminishing capital flow from utility tokens, which might hinder price growth. Additionally, the collapse of the Libra token significantly impacted the market, leading to a sharp decline in new token deployments and investor confidence in speculative investments.

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