This is a summary of the Alchemix Q4 2025 Report, which can be found in full in the Alchemix GitBook . This report provides relevant data for Q4 2025, 1st October 2025 to 1st January 2026. The fourth quarter of 2025 brought many developments into the crypto space and into the Alchemix world, including the following: Triggered by sharp ETH depreciation and broader market turbulence, Alchemix experienced significant declines in treasury, deposit, and Elixir valuations this quarter.