Crypto market soars 10% in May as Bitcoin nears record $112K, says Binance
Tired of too many ads?
Remove Ads
Crypto TrackerPowered By
TOP COINS
TOP COIN SETS BNB
57,167 (
-0.33 %) Buy Ethereum
2,36,996 (
-0.72 %) Buy Bitcoin
92,33,365 (
-1.5 %) Buy XRP
192.31 (
-1.69 %) Buy Solana
13,635.62 (
-3.68 %) Buy
Altcoins join the rally
Popular in Markets
1.
EU crypto regulation hampered by national flaws
NFT and ETF activity picks up
Corporate treasuries deepen crypto exposure
Outlook for H2 remains optimistic
Tired of too many ads?
Remove Ads
The global cryptocurrency market posted a robust 10.3% gain in May, defying global macroeconomic uncertainty and trade policy volatility, according to a report from Binance Research.The rally was driven by a surge in institutional participation, expanding corporate treasury holdings, and strong momentum across decentralized finance ( DeFi ) and stablecoins Bitcoin (BTC) led the charge, rising 11.1% during the month and hitting a record high of $111,970 before experiencing a modest retreat. Ethereum (ETH) recorded an even sharper recovery, jumping 43.9% in May following the successful implementation of its Pectra upgrade. The upgrade enhanced scalability, security, and developer experience, restoring long-term investor confidence in the Ethereum ecosystem.'Despite persistent global macroeconomic turmoil, the May insights underline crypto's growing resilience and maturity,' said Kushal Manupati, Regional Growth & Ops Lead of South Asia at Binance. 'We are seeing unprecedented levels of corporate participation, increased institutional demand, and greater integration of blockchain technology into financial and enterprise processes.'Several altcoins posted strong gains. Dogecoin (DOGE) surged 12.9% after 21Shares filed for a spot DOGE ETF, resulting in a 528% increase in active wallet addresses. Solana (SOL) gained 9.3%, supported by institutional inflows and fresh treasury allocations by DeFi Dev. Binance's native token BNB rose 10.1% after the $2 billion launch of stablecoin USD1 on the BNB Chain.DeFi stood out as the best-performing sector, with total value locked (TVL) rising 21.4% month-on-month, outpacing even Bitcoin's growth. Ethereum and its Layer 2 networks, particularly Base, played a central role in this surge. Stablecoin activity also climbed by 4.5%, with the overall market size remaining above $250 billion for the twentieth consecutive month.Non-fungible tokens ( NFTs ) experienced a revival, with sales volumes increasing by 22.5% in May. Bitcoin-based NFTs—including Ordinals and BRC-20 collections—saw a 14.4% rise in sales. Immutable's 'Guild of Guardians' led the gains with a 40% increase in sales volume, while 'Doodles' and 'Good Vibes Club' also saw notable recoveries.U.S.-listed Bitcoin spot ETFs saw net inflows of $5.25 billion in May, the highest since November 2024. However, the month ended with $962 million in outflows during the final two trading days, signaling growing investor caution amid rising secondary market interest rates and renewed macroeconomic concerns.Corporate treasury involvement continued to expand, with over 100,000 BTC added to company balance sheets since April and more than 25 new firms disclosing their crypto holdings.'This momentum is not only about growing prices, but also signals rising confidence in digital assets as a vital part of the global financial ecosystem,' Manupati said.Looking ahead, Binance Research projected continued strength for the crypto market in the second half of 2025. Key drivers include expanding regulatory clarity in the U.S., EU, and Asia-Pacific regions, growing corporate adoption, and ongoing innovation in DeFi.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Indian Express
an hour ago
- New Indian Express
Trump, EU chief seek deal in transatlantic trade standoff
TUNBERRY, UK: US President Donald Trump and EU chief Ursula von der Leyen were set for make-or-break talks in Scotland Sunday, aimed at ending a months-long transatlantic trade standoff, as negotiations went down to the wire. Trump has said he sees a one-in-two chance of a deal with the European Union, which faces an across-the-board US levy of 30 percent unless it strikes a trade pact by August 1 -- with Washington warning Sunday there would be "no extensions." Von der Leyen's European Commission, negotiating on behalf of EU countries, is pushing hard for a deal to salvage a trading relationship worth an annual $1.9 trillion in goods and services. According to an EU diplomat briefed ahead of the meeting, set for 4:30 pm (1530 GMT), the contours of a deal are in place after talks went late into Saturday night -- but key issues still need settling. And of course the final word lies with Trump. "A political deal is on the table -- but it needs the sign-off from Trump, who wants to negotiate this down to the very last moment," the diplomat told AFP. The proposal, they said, involves a baseline levy of around 15 percent on EU exports to the United States -- the level secured by Japan -- with carve-outs for critical sectors including aircraft and spirits, though not for wine. Any deal will need to be approved by EU member states -- whose ambassadors, on a visit to Greenland, were updated by the commission Sunday morning, and would meet again after any accord. According to the EU diplomat, the 27 countries broadly endorsed the deal as envisaged -- while recalling their negotiating red lines.
News18
2 hours ago
- News18
'No Extensions Or Grace Periods': US Firm On August 1 Tariff Deadline
Last Updated: So far, five countries — Britain, Vietnam, Indonesia, the Philippines, and Japan — have agreed to new trade terms with the US Commerce Secretary Howard Lutnick on Sunday said that the United States will move forward with its planned tariffs on trading partners from August 1, with no extensions or exemptions. Speaking on Fox News Sunday, Lutnick made clear the administration's firm stance, 'No extensions, no more grace periods. August 1, the tariffs are set. They'll go into place. Customs will start collecting the money, and off we go." The decision adds pressure on key US allies and trading partners to finalise trade deals before the deadline, part of the Trump administration's push to rewrite global trade rules that it considers unfair to American industries. US President Donald Trump, currently in Scotland for talks with European Union officials, is still open to negotiations even after the tariffs are imposed, Lutnick said. However, he made it clear that the US has set the terms. 'They're hoping they make a deal, and it's up to President Trump, who's the leader of this negotiating table. We set the table," he added. So far, five countries — Britain, Vietnam, Indonesia, the Philippines, and Japan — have agreed to new trade terms with the US, securing deals ahead of the looming deadline. While the tariffs they accepted are often higher than the current 10 percent base rate imposed since April, they remain lower than what Washington had originally threatened in the absence of an agreement. The European Union, however, has yet to reach a deal. It now faces the risk of a 30 percent blanket tariff on exports to the US beginning August 1. Trump has said there's a '50-50" chance of striking an agreement with the EU. Earlier today, Trump and European Commission President Ursula von der Leyen were scheduled to meet at Trump's Turnberry golf resort in southwest Scotland. The meeting is seen as a final attempt to avoid a major transatlantic trade conflict. The EU's negotiating team has been working intensively to secure a deal that would protect a trading relationship worth an estimated $1.9 trillion annually. But any agreement must be approved by all 27 member states. EU ambassadors, currently visiting Greenland, were meeting Sunday to review the latest developments. (With inputs from agencies) view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
NDTV
2 hours ago
- NDTV
Russia Begins Monthly Direct Flights To North Korea Amid Ukraine Conflict
Russia on Sunday began direct commercial flights to North Korea, in a further sign of closer ties with its Asian ally helping its offensive in Ukraine. The first Moscow-Pyongyang flight, operated by Nordwind Airlines, was scheduled to take off at 1600 GMT and land in the North Korean capital some eight hours later, according to the carrier's website. Nordwind Airlines -- a company that used to serve holiday destinations in Europe before the EU imposed a ban on Russian flights -- had tickets priced at 45,000 rubles ($570). Russia's state news agency TASS reported that the first flight going the other way, from Pyongyang to Moscow, would take place on Tuesday. Russia's transport ministry said the route would be serviced once a month. Russia and North Korea restored train links on June 17 after suspending them in 2020 during the Covid pandemic. The two countries have been forging closer military bonds in recent years, with Pyongyang supplying troops and weapons for Russia to use in its military operations in Ukraine. They signed a mutual defence pact last year, when Russian President Vladimir Putin visited North Korea. North Korea confirmed for the first time in April that it had deployed a contingent of its soldiers to the frontline in Ukraine, alongside Russian troops.
