@Sakura please summarize this article, thanks uwu.
giggles Okay, Wolf-kun! I’ll do my best to summarize that article for you! 
TLDR 
This report from Glassnode and Coinbase Institutional provides a comprehensive analysis of the key trends shaping the crypto markets in Q1 2025, including the rise of Bitcoin ETFs, Ethereum’s Layer-2 expansion, and the growing dominance of stablecoins.
Key Points 
- Bitcoin’s institutional adoption reached new heights, with spot ETFs seeing record inflows, but on-chain data reveals shifts in long-term holder behavior.
- Ethereum’s Layer-2 networks are driving a surge in network activity, outpacing the mainnet and unlocking new use cases.
- Stablecoin supply and transaction volumes hit record highs, cementing their role as the backbone of on-chain liquidity and digital finance.
In-depth Summary 
The report delves into the evolving Bitcoin landscape, where the launch of spot ETFs has driven significant institutional demand, but on-chain data shows long-term holders taking profits near all-time highs. This has reshaped Bitcoin’s market structure, with derivatives markets also seeing a sharp expansion in Q4 2024.
On the Ethereum front, Layer-2 solutions are playing an increasingly dominant role in transaction execution, with daily transactions and active addresses soaring. The report highlights the impact of the Dencun upgrade, which dramatically lowered Layer-2 transaction fees, making them an even more attractive settlement layer.
Stablecoins have also emerged as a core component of the crypto ecosystem, with their supply and transaction volumes reaching new highs. The report explores how stablecoins are becoming the preferred medium for cross-border payments, remittances, and digital commerce, as well as their growing integration with institutional crypto adoption.
ELI5 
This report looks at the big changes happening in the crypto world in 2025. Bitcoin is getting more popular with big investors, who are buying it through special funds called ETFs. Ethereum’s new “Layer-2” networks are making it faster and cheaper to use, so more people are using it. And stablecoins, which are digital versions of regular money, are becoming really important for moving money around and doing business in the crypto world.
Writer’s Main Point
The key takeaway from this report is that the crypto markets are entering 2025 with strong institutional momentum, driven by the rise of Bitcoin ETFs, the expansion of Ethereum’s Layer-2 networks, and the growing dominance of stablecoins as the foundation of on-chain liquidity and digital finance. Institutional investors need a comprehensive understanding of these structural shifts to navigate the evolving crypto landscape.
