Cryptocurrency prices saw a steady increase in May 2025, due to a combination of institutional involvement, sectoral advancements, and broader interest in digital assets. Despite ongoing global economic uncertainty, activity remained strong in major tokens, DeFi protocols, and NFTs. As per Binance Research's monthly update, the total value of the crypto market gained by 10.3 per cent in May over the previous month.
Bitcoin and Ethereum Rally in May
Bitcoin and Ethereum both recorded significant gains amid broader market strength in May. Bitcoin (BTC) prices rose 11.1 per cent, reaching an all-time high of $111,970 before a modest retreat. Ethereum (ETH) prices recovered significantly, gaining 43.9 per cent following the release of its Pectra upgrade, which enhanced scalability and developer experience.
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Altcoins, DeFi, and NFTs Show Momentum
In addition to Bitcoin and Ethereum, many altcoins saw moderate gains in May, aided by ecosystem advancements and increased market volume. Dogecoin (DOGE) jumped 12.9 per cent after 21Shares submitted an application for a spot DOGE ETF, backed by a 528 per cent rise in active addresses. Solana (SOL) gained 9.3 percent, boosted by institutional inflows and fresh treasury investments. BNB climbed 10.1 per cent after the introduction of the $2 billion USD1 stablecoin on BNB Chain.
Hyperliquid saw strong activity in May 2025, with HYPE up 78.5 per cent and the platform briefly ranking fifth globally, according to Binance Research. It currently holds the 11th position.
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Other areas of the crypto market also showed steady progress in May. DeFi recorded a 21.4 per cent rise in total value locked, largely driven by activity on Ethereum and Layer 2 networks. NFT sales rose 22.5 per cent, with increased volumes in collections like "Guild of Guardians" and Bitcoin Ordinals.
Bitcoin spot ETFs in the U.S. saw $5.25 billion in net inflows during May, though the final days of the month witnessed $962 million in outflows amid shifting investor sentiment.
Kushal Manupati, Regional Growth & Ops Lead of South Asia, Binance said, "Despite ongoing global economic challenges, recent data shows increasing corporate involvement, higher institutional interest, and wider adoption of blockchain technology in finance and business operations. This reflects a growing recognition of digital assets within the global financial system."
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As of today, Bitcoin prices stand at $107,284.33, while Ethereum prices are at $2,747.55. The global cryptocurrency market capitalisation is approximately $3.37 trillion.
