Binance Research – Monthly Market Insights, May 2025

The main theme is the analysis of the cryptocurrency market in May 2025, including the performance of various segments such as DeFi and NFT, and the impact of macroeconomic factors on the market.

Key findings include a 9.9% increase in cryptocurrency market capitalization in April due to a temporary suspension of tariffs. Bitcoin dominance reached a four-year high of 63% due to its appeal as a risk hedge. M2 in G4 countries is expected to exceed a record $93 trillion, supporting Bitcoin's growth. CeFi companies increased their share in fundraising to 41.42% since December 2024. There is a shift towards the application layer, now capturing over 70% of all blockchain fees.