Binance Research released the 'Cryptocurrency Key Trends Research' report, reviewing the key developments in the cryptocurrency market in May 2025. The report pointed out that the overall market capitalization of the cryptocurrency market increased by 10.3% in May 2025, continuing the previous upward trend; however, due to fluctuations in the US-China trade relations, the overall market volatility remained high. In this turbulent macro environment, mainstream cryptocurrency assets performed strongly. Bitcoin benefited from growing institutional interest and its attributes as a long-term hedge asset, with the price soaring to a historical high of $11,970. Ethereum achieved a strong rebound propelled by the successful Pectra upgrade.
Regarding the stablecoin market, the total market capitalization of stablecoins increased by 4.5% in May. Among them, USDT's market share expanded, while USDC's market share decreased from 26.2% to 24.3%.
Additionally, the report mentioned the NFT sector. In May, sales in the NFT sector rose by 22.5%. Among these, Ethereum NFT sales decreased by 20.9%, while Polygon narrowed the gap due to RWA assets. Furthermore, Bitcoin NFT sales increased by 14.4%, mainly driven by Ordinals and BRC-20.
