Latest news with #KushalManupati
Economic Times
2 days ago
- Business
- Economic Times
Crypto market soars 10% in May as Bitcoin nears record $112K, says Binance
The cryptocurrency market experienced a significant surge in May, driven by institutional interest and DeFi growth, despite macroeconomic uncertainties. Bitcoin led the rally, hitting record highs, while Ethereum saw substantial gains after its Pectra upgrade. Altcoins and NFTs also saw increased activity, with corporate treasuries expanding their crypto holdings, signaling growing confidence in digital assets. 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 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 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 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 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 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)
Time of India
2 days ago
- Business
- Time of India
Crypto market soars 10% in May as Bitcoin nears record $112K, says Binance
The cryptocurrency market experienced a significant surge in May, driven by institutional interest and DeFi growth, despite macroeconomic uncertainties. Bitcoin led the rally, hitting record highs, while Ethereum saw substantial gains after its Pectra upgrade. Altcoins and NFTs also saw increased activity, with corporate treasuries expanding their crypto holdings, signaling growing confidence in digital assets. 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 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 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 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 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 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)
