The Binance Research team provides industry-grade analyses of the processes shaping Web3 and shares insights to empower the community with the latest knowledge in crypto research. The blog explores the key developments in the Web3 ecosystem in January 2025, including the performance of the crypto, DeFi, and NFT markets. The cryptocurrency market surged in January but faltered later in the month due to concerns about tech overvaluations and new tariff policies. XRP and Solana were among the top gainers, while Ether, Avalanche, BNB, and Tron saw declines. DeFi saw a modest increase in total value locked, while the stablecoin market cap grew. The NFT market experienced a downturn in January, with declining sales across most chains. The blog also highlights upcoming events and token unlocks in February 2025.



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