The report by Binance Research Monthly Market Insights – July 2025 offers an in-depth overview of the most recent developments in the crypto market. In this article, we explore the main trends, key data, and future prospects, including the performance of Bitcoin and altcoins, DeFi, NFT, stablecoins, and the evolution of the DEX–CEX relationship.
The capitalization of the crypto market grows, but volatility remains high
In June 2025, the total crypto market capitalization grew by +2.62%, marking a modest recovery in a context of high volatility, triggered by geopolitical tensions in the Middle East. Concerns about regional instability and the potential impact on global energy supplies pushed investors towards a risk-off attitude, initially causing a sharp drop in Bitcoin below the psychological threshold of $100,000.
Subsequently, the cooling of tensions and greater political clarity contributed to restoring confidence. Bitcoin thus showed resilience, bringing its dominance to 65%, the highest level since 2021.
ETFs and institutional investments support the sector
An encouraging signal is the solidity of inflows towards spot ETFs on criptovalute. The ETFs on Bitcoin and Ethereum have seen net inflows of $4.49 billion and $1.16 billion respectively, confirming the perception of crypto as a strategic asset for institutional portfolios.
Bitcoin: more sensitive than stocks to geopolitical tensions
The Nasdaq-100, despite a drop of 1.3% at the peak of the crisis, closed June with an increase of +5.5%. Bitcoin, on the other hand, lost over 11% between June 9 and 23, then closed the month with a slight bull (+1.3%).
The increased volatility of BTC, fueled by retail speculation and derivatives, has led to the largest 3-day liquidation event of the year, with over $1.5 billion in long positions liquidated.
This dynamic confirms the role of Bitcoin as a high beta asset, more exposed to shocks compared to technology stocks, yet still supported by a robust long-term interest.
Performance of the main crypto in June 2025
Top performer:
- HYPE: +24.7% – record of volumes and institutional purchases.
- BCH: +20.7% – technical breakout.
- BTC: +3.9% – resilient.
- TRX: +3.6% – speculations on NASDAQ listing.
Worst performers:
- DOGE: -12.7% – maxi sale by a whale.
- ADA: -16.5% – regulatory and technical delays.
- SOL: -2.2% – network congestion.
DeFi: growth slowed by tensions, but Ethereum gains ground
In June, the Total Value Locked (TVL) of DeFi decreased by -2.19%, while Ethereum increased its market share. Tron, on the other hand, experienced a collapse in DEX volumes (-62%) and an outflow of over $2 billion.
The stablecoin have shown resilience (+2.57%), benefiting from the recent approval of the GENIUS Act by the US Senate.
NFT: consolidation and new leadership in gaming
The NFT market recorded an increase in volumes of +7.22%, thanks to a rebound at the end of the month. However, sales on Ethereum fell by -49.9%, surpassed by Immutable (+215%) due to the success of the game Guild of Guardians. Polygon remains in third place.
The adoption of NFT in gaming highlights an evolution towards more concrete and sustainable applications.
Stablecoin: surpassed the $250 billion threshold
Stablecoins are confirmed as the bridge between crypto and the real economy. In June, the total supply reached $253.7 billion, with on-chain transactions exceeding $21.5 trillion since the beginning of the year.
Key events:
- Approval of the GENIUS Act.
- Shopify and Stripe enable USDC for millions of merchants.
- Walmart and Amazon explore proprietary stablecoins.
- JPMorgan launches the JPM-D pilot on public blockchain.
DEX: the DEX–CEX ratio at all-time highs
The ratio between spot volumes DEX and CEX has reached the all-time high of 27.9%. PancakeSwap is the leader, increasing its share from 16% to 42% thanks to the Infinity upgrade.
The CeDeFi solutions, which combine the liquidity of CEX with on-chain execution, are accelerating the growth of DEX.
Public markets: narrative vs fundamentals
Companies listed with crypto exposure show contrasting performance:
- Top performer: Metaplanet and MicroStrategy thanks to BTC-centric strategies.
- In trouble: SharpLink and Nano Labs.
- Solid business model: Circle, experiencing strong bull growth post-IPO.
- Positive trend: Robinhood and Coinbase thanks to strategic acquisitions.
The markets tend to reward sustainable models more than simple speculative allocations.
Crypto Insight: key events of July 2025
Expected for the month:
- SEC decision on the ADA ETF (July 15).
- Important token unlocks.
Conclusions: outlook and reflections on the crypto market
The July 2025 report highlights a market in a consolidation phase, resilient but subject to volatility. The growth of stablecoins, the consolidation of DeFi, and the evolution of NFTs in gaming indicate a progressive maturation of the sector.
Institutional interest and regulatory clarity remain key factors for the next cycle. Selectivity in choosing projects becomes increasingly crucial in a competitive landscape.
