With stablecoins’ market cap surpassing $300B, RWAs doubling in on-chain value, and new ETF approvals accelerating mainstream access, 2025 marked a pivotal step in crypto’s integration into the global financial landscape.
With more than 300 million users and over $64 trillion in trading volume across Spot and Futures, Binancians are accelerating global crypto adoption.
Discover your personalized Year in Review – via our app or website – to see how your trades, milestones, and activity shaped the Binance community.
As we wrap up 2025, we’re hitting rewind on a year that did not hold back. From major breakthroughs to game-changing products, the crypto world is evolving fast. Beginning December 29, your personalized 2025 Year in Review lands in the Binance app and website. Relive every tap, trade, and triumph that brought us here – and celebrate the milestones you helped create.
Check out your #2025withBinance
Our 2025 wins were possible because of one thing: you, our people. Across every corner of Binance, you traded with purpose and passion, driving cumulative trading volume to an incredible $64+ trillion. You proved that when the community moves, the entire crypto world moves with you. With $2.13 trillion deposited and another $2.11 trillion withdrawn, liquidity never slept.
Thank you for choosing Binance as your launchpad, your playground, your trading home. Whether you’ve been HODLing with us since day one or just took your first step into Web3 in 2025 – you’re the reason the industry keeps leveling up.
This year, we’ve unwrapped some incredible milestones together, bringing our global community to more than 300 million! On the trading floor, our users’ top picks were BTC, BNB, ETH, SOL, and XRP, reflecting the trends and tastes shaping the crypto market in 2025.
This year, over 26 million Binancians tapped into the power of seamless payments, spending a collective $121 billion through Binance Pay. Across 20 million merchants worldwide, you completed more than 1.36 billion transactions, showing just how effortless crypto payments can be incorporated in everyday life.
After experiencing the ease of Binance Pay, Binancians discovered that saving can be just as simple with Binance Earn. This year, nearly 14.9 million users put their crypto to work, collectively collecting over $1.2 billion. From staking to flexible savings, Binancians proved that earning, and HODLing can all go hand in hand.
Binancians had plenty to get excited about this year with 58 token generation events and 15 Boosters, giving users early access to new opportunities and ways to grow their crypto. Alpha Airdrops reached over 9.6 million users, with 809,650 unique participants claiming a total of $0.81 billion based on token prices at the time of receipt. Meanwhile, the HODLer Airdrop program rewarded over 2.4 million users across 57 distributions, celebrating long-term commitment and dedication to holding crypto.
In 2025, over 13.2 million Binancians ventured into the Web3 ecosystem through the Binance Web3 Wallet, collectively executing more than $546.7 billion in transactions. From exploring decentralized finance to engaging with blockchain applications, users embraced new ways to trade, interact, and expand their crypto journey beyond traditional platforms.
Through the Learn & Earn program, more than $2.7 million was distributed, rewarding users for expanding their understanding of crypto and blockchain while putting their new knowledge into action. The spirit of continuous learning didn’t stop there: over 3.2 million users leveraged our new Binance AI summary function to adapt their trading strategies
2025 took crypto from acceleration to overdrive, powered by clearer regulation and stronger institutional confidence.
With the GENIUS Act bringing long-awaited certainty, stablecoins surged past US$300B, while tokenized assets flowed rapidly into corporate treasuries. Altcoins rallied on the back of new ETF approvals, M&A activity soared as TradFi and Web3 converged, and RWAs more than doubled in value on-chain. Meanwhile, perpetual DEXs crossed trillion-dollar monthly volumes and prediction markets hit cultural breakout status. If 2024 hinted at crypto’s potential, 2025 is the confirmation: crypto is firmly embedding itself into our future financial landscape.
Stablecoin Adoption
The total stablecoin market cap surpassed US$300 billion in 2025, expanding by ~47%. Addresses holding dollar and crypto-pegged stablecoins climbed 44% to 130.7 million, boosted by the passage of the GENIUS Act, which established clearer regulatory standards and streamlined stablecoin issuance.
Digital Asset Treasury (DAT) Adoption
DAT companies surged in popularity as firms increasingly added digital assets to their balance sheets. Public companies now hold 1,057,299 BTC, while Ethereum-focused treasuries accumulated 6.14M ETH — roughly 5% of ETH’s total supply. From Bitcoin to Solana, DATs continue to scale through public issuance and private capital.
Altcoins
Altcoins surged in 2025, with BNB outpacing the broader market, hitting a new all-time high of US$1,370 in October – fueled by rising corporate-treasury demand and growing ecosystem utility through new partnerships. BNB’s rally mirrored a wider shift in market structure, driven by deeper institutional participation and new investment vehicles.
Spot ETH ETFs also posted positive monthly net inflows (except March), averaging US$1.17B, while new ETFs for XRP, SOL, LTC, HBAR, and DOGE hit the market. Solana drew standout interest, with Bitwise’s SOL ETF debuting at US$55.4M in trading volume and US$217.2M AUM. The SEC’s approval of generic listing standards on September 17 further accelerated the rollout of spot crypto ETFs across the board.
Privacy Coins
Privacy coins saw a dramatic US$41.7B single-day market cap increase on November 9 as a renewed digital-cash narrative gained momentum during market volatility. Despite compliance pressures, demand for confidentiality grew: transaction volume across the top three privacy coins rose 30% in October.
Prediction Markets
Weekly trading volume across prediction markets exceeded US$3B in October, surpassing pre-election averages. Activity is concentrated on Polymarket, Kalshi, and Opinion (launched in October). Polymarket led for most of the year, bolstered by initiatives like ICE’s US$2B investment and progress toward U.S. re-entry following its CFTC-cleared acquisition of a regulated exchange and clearinghouse.
DEX Growth
DEX–CEX volume ratios surged this year – spot volumes doubled, and futures volumes quadrupled, driven by the emergence of perpetual DEXs. In October alone, perpetual DEXs processed US$1.3 trillion in volume. As UX and liquidity deepen, more users are migrating toward permissionless, self-custodial trading.
RWA Expansion
On-chain RWA value climbed from US$15.5B to over US$35.5B, powered by private credit markets and tokenized commodities such as gold and U.S. Treasuries. BUIDL remains the largest on-chain asset with more than US$2.8B in tokenized value.
Merger and Acquisition of Crypto Companies
Traditional finance and crypto firms are increasingly converging as strategic partnerships and acquisitions accelerate. Merger and acquisition activity soared from US$1.3B in 2024 to US$17.7B in 2025. Deal volume more than doubled with 271 transactions in 2025 versus 128 previously.
*All statistics are provided by the Binance Research Team.
Community defines Binance, and BBW Dubai 2025 was our biggest celebration yet. This year’s flagship event brought together 5,210 attendees from 120 countries, including 200 speakers, 400 industry influencers, and our largest Angels gathering to date with 91 participants. And the momentum didn’t stop there – through global meetups, webinars, and workshops, we continued creating opportunities for users to connect, level up, and forge lasting ties.
Beyond the numbers and milestones lies the heart of our ecosystem – you. Every trade you made, every insight you shared, every moment you showed up has shaped Binance and pushed the entire ecosystem forward. That’s why we built the 2025 Year in Review: to honor your journey and spotlight the impact you made this year. Thank you for being part of this incredible ride – here’s to another year of building, thriving, and winning together!
