.png){kind=logo}
According to the latest Monthly Market Insights by Binance Research, the research and analysis division of Binance, the global crypto market capitalisation surged 13.3% in July 2025, driven by Bitcoin repeatedly reaching new all-time highs, surging institutional demand for Ethereum and other major altcoins, record corporate treasury adoption, and stronger regulatory clarity following the passage of landmark stablecoin legislation in the U.S. While Bitcoin continued its upward trend, the month saw a major rotation into altcoins led by Ethereum, signaling a shift in market positioning and investor sentiment.
Ethereum emerged as the July standout performer, rallying 51% amid record-breaking institutional participation. Corporate ETH holdings surged 127.7% to over 2.7M ETH, now equivalent to 46.5% of ETF-held ETH, as 24 new companies added ETH to their balance sheets. This demand was driven by staking yield advantages, ETH’s deflationary supply model, and a growing preference for direct holdings over passive ETF exposure.
Bitcoin maintained its upward momentum, gaining 8.9% in July to reach a new all-time high of US$123,000, while still serving as a stability anchor for the market despite its dominance falling by 5.2% to 60.6%. Altcoin dominance rose nearly by 10% to 39.2%, marking one of the largest monthly shifts of 2025, driven by improving macroeconomic conditions, expectations of a Fed rate-cut cycle, and the absence of major market shocks.
Other major gainers included XRP, SUI (+34.6%), ADA (+33.8%), DOGE (+30%), and BNB (+22.1%), each benefiting from ecosystem upgrades, corporate treasury adoption, and positive sentiment in the broader DeFi and tokenization narratives.
The stablecoin sector saw significant tailwinds following the passage of the landmark GENIUS Act, signed into U.S. law on 17 July, establishing the first federal framework for fully reserved AML-compliant stablecoins. Institutional adoption accelerated, with JPMorgan expanding its deposit-token pilot, Citi exploring tokenized deposits for cross-border settlement, and Visa announcing plans to expand stablecoin settlement capabilities. On-chain stablecoin volumes (~US$2.1T) continued to outpace Visa on a rolling 30-day basis since late 2024, reinforcing their role as global payment rails.
NFT trading volumes rebounded sharply (+49.9%), led by a 393% jump in CryptoPunks sales after a high-profile whale acquisition. Ethereum-based NFTs regained the top spot in sales volume (+58%), followed by Bitcoin NFTs (+28.1%), while Polygon-based NFT sales saw a decline. Discussions around including NFTs in ETF structures hint at possible institutional entry into the sector.
Tokenized stocks mirrored the early DeFi boom, with market cap reaching US$370M and active on-chain addresses skyrocketing from 1.6K to over 90K. Excluding the Exodus Movement issuance, tokenized equities like TSLA and SPY grew 220% since June, signaling rising investor appetite and the potential for a US$1.3T market if just 1% of global equities were tokenized.
“July marked a pivotal moment for the crypto market, with altcoins, especially Ethereum stepping into the spotlight. The market is showing a clear evolution from being price-driven to being shaped by deeper structural shifts. We are seeing stronger institutional participation, regulatory clarity that builds long-term confidence, and growing use cases that connect blockchain technology directly to real-world finance. The rise of corporate ETH adoption, the strengthening role of stablecoins as global payment rails, and the growing momentum in tokenization all point to a maturing ecosystem that is steadily integrating into mainstream financial infrastructure,” said Kushal Manupati, Regional Growth & Ops Lead of South Asia, Binance.
The report concludes that regulatory clarity, growing institutional allocations, and emerging narratives around tokenization are accelerating the market’s maturation. While macro uncertainties remain, structural tailwinds position digital assets for deeper integration into public markets, corporate balance sheets, and real-world payment systems.
