Binance Research's 2025 report reveals that the crypto market achieved significant structural progress despite macroeconomic headwinds, with a shift towards regulated, institutional involvement and practical applications. The market capitalization surpassed $4 trillion, and Bitcoin reached a new all-time high of $126,000.

• Total crypto market capitalization: Exceeded $4 trillion for the first time.
• Bitcoin's all-time high: Reached $126,000.
• Stablecoin market cap: Rose nearly 50% to over $305 billion, with annual transaction volumes of $33 trillion, surpassing Visa's $16 trillion.