In a highly anticipated report, Binance Research reveals ten key metrics that will draw the future of the crypto in 2025. Increase in global liquidity, pierced with ETFs, explosion of the stablecoins offer … All the indicators seem to be green. But how far can this dynamic carry the market?
In short
- Crypto capitalization has jumped $ 600 billion since January 2025.
- Stablecoins are reaching a historic record of $ 277.8 billion in supply.
- The Bitcoin and Ethereum ETFs drain more than $ 28 billion in net flows.
- Public companies now accumulate 1.07 million BTCs in their reserves.
Binance Research anticipates a massive adoption of stablecoins
The analysis of Binance Research reveals a remarkable phenomenon: world liquidity M2 has experienced its strongest expansion in six months since 2021.
This massive liquidity injection does not remain confined to traditional markets. It pours into risky active ingredients, proposing Bitcoin and Ethereum to new heights.
The figures speak for themselves. Total capitalization of the Crypto market has an increase in 9.9 % since the start of the yearadding more than $ 600 billion after a difficult first quarter.
Three catalysts fuel this resurgence:
- Political clarity: American regulators adopt a more favorable approach
- Institutional access facilitated: ETFs open the way to large investors
- Reinforced on-chain activity: the protocols deffi gain in maturity and use
The stablecoins perfectly embody this dynamic. Their offer literally explodes, leaping by more than 35% to reach $ 277.8 billion. This dazzling growth exceeds simple trading to extend to payments and regulations, signaling an accelerated mainstream adoption.
The increase in the liquidity of stablecoins often precedes an increase in purchasing power on the crypto market. This correlation suggests that the ecosystem is preparing for a new expansion phase, fueled by this “dry powder” available.
Institutionalization accelerates with ETFs and corporate cash flows
ETF Bitcoin and Ethereum in cash are one of the central engines of current market transformation.
With 28 billion dollars in net flows in 2025, these instruments democratize access to cryptos for institutional investors. Blackrock leads the dance, followed closely by Fidelity, erecting these financial giants in real regulated “Whales”.
Since their launch, the Bitcoin ETF has accumulated more than 1.29 million BTC, an unprecedented concentration of the offer in the hands of institutional actors.
This phenomenon redefines the balance of forces on the market, by establishing a new form of centralization … at the very heart of the regulated infrastructure.
In parallel, listed companies strengthen their Bitcoin cash strategy. 174 companies today hold around 1.07 million BTC, or 5.4 % of the supply in circulation, including 59 % by strategy (ex-microstrategy), which fully plays its role as Bitcoin on the stock market.
This institutionalization is accompanied by a structural change in the market:
- Decentralized exchanges (DEX) represent 23.1 % of Spot volumes.
- Decentralized term contracts reached 9.3 % market share.
- On-chain loans cross $ 79.8 billion of locked value.
Binance Research describes an ecosystem in full maturation, carried by abundant global liquidity, massive institutional adoption, and a sustained on-chain innovation. 2025 could well mark the real turning point towards generalized crypto adoption.
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