- Bitcoin trading at Xapo Bank jumped 14.2% in Q1 2025, even as BTC price fell 13%, marking its worst Q1 since 2018.
- Euro and USDC deposits surged, while USDT fell 13.4%, reflecting investor trust and regulatory pressures in Europe.
- Xapo’s BTC-backed loans, interest accounts, and strong user sentiment reinforce Bitcoin’s long-term value outlook.
Xapo Bank, a private bank licensed in Gibraltar, disclosed that its Bitcoin trading volume in Q1 2025 rose by 14.2% compared to the previous quarter. Bitcoin’s price dropped by 13% within the same period as it recorded its worst first-quarter outing since 2018.
Xapo Bank Records High BTC Demand, Euro and USDC Deposits Also Soars
In a recent statement, Xapo Bank explained that its high-capital Investors actively purchased BTC during the recent bear markets. Even when Bitcoin slipped below the $100,000 mark in February, the bank’s BTC purchase orders stood at 50.7%, beating the 41% tally of Q1 2024. Per the firm, this trend shows that investors are focused on the coin’s future trajectory and not its performance in the short term.
The bank credits the recent transactions surge to the high USDC and Euro deposit amounts. In Q1 of 2025, Xapo Bank posted a Euro deposit growth of 50%, which is more than the previous quarter. According to the bank, this spike was largely due to fear regarding the stability of the USD and market tension triggered by the “Liberation Day” announcement.
Data also shows that USDC deposits climbed by 19.8% in the first quarter compared to last year. On the other hand, USDT deposits tanked by 13.4% in that period. Xapo Bank believes that this disparity in preference correlates with the mass delisting of the USDT by European-based crypto exchanges due to regulatory compliance issues. During this period, Tether, the issuer of USDT, also suspended its euro-pegged stablecoin.
Earlier this year, Xapo Bank became the first to introduce a BTC and fiat interest account in the United Kingdom. Months later, the company launched a $1 million BTC-backed loan initiative. Gadi Chait, Xapo Bank’s head of investment, reiterated that Bitcoin remains a relevant asset despite the recent slippage.
He remarked that:
Xapo Bank member data shows that despite short-term headwinds, the bigger picture for Bitcoin remains strong and current volatility does not diminish Bitcoin’s importance.
Results from a Xapo Bank poll on X show that market participants overwhelmingly support using BTC as a store of value and investment asset. Hence, this strengthens the bank’s stance on Bitcoin as a long-term asset.
Bitget Q1 2025: $2.1T Volume, User Growth, and Bybit Support
Bitget’s trading volumes also closed the first quarter, as per the Transparency Report for Q1 2025. In that period, the platform posted $2.1 trillion in trading volume. In addition, spot trading grew northward by 159% to hit a total figure of $387 billion. Bitget’s customer base also spiked by 120 million, with 4.89 million users joining the CEX platform and 15 million users pivoting to its Bitget Wallet app.
Bitget also helped fellow crypto exchange Bybit during its February security breach. The trading platform gave Bybit an interest-free loan of $100 million (40,000 ETH), which was later refunded. Bitget’s CEO stated that the platform will focus on offering high-level ecosystem products and broadening its Web3 presence.
