Binance Research: 47 crypto ETFs await approval amid market uncertainty
Solana DEX dominance and the rise of meme coins
Binance February report provides a clear overview of crypto market trends
The recovery of market capitalization, political support for ETFs, the expansion of meme coins, and Solana’s dominance on DEXs are key elements that will continue to shape the sector in the coming months.
In January 2025, the cryptocurrency market peaked at $3.76 trillion, driven by expectations of broad political initiatives, such as the U.S. forming a Bitcoin reserve.
However, by the end of the month, momentum declined as China’s new DeepSeek AI model outperformed ChatGPT, triggering a 2% drop in both the U.S. stock market and crypto markets.
At the beginning of February, market conditions worsened due to concerns over the U.S. implementing strict tariff policies, which impacted risk assets globally, including cryptocurrencies. Binance Research will analyze these developments in its next monthly report.
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For now, the market is waiting for the launch of new exchange-traded crypto products. Currently, there are 47 active applications covering 16 asset categories, including meme coins. If approved, these ETFs could further accelerate crypto adoption in traditional finance.
Solana’s DEX dominance and the rise of meme coins
The market is witnessing exponential token creation, with over 37 million new assets launched, and projections indicate this number could exceed 100 million by the end of the year.
This phenomenon is fueled by new tools that allow users to create digital assets effortlessly. However, the growing variety of tokens has fragmented capital, making it harder for many assets to maintain stable valuations.
Additionally, Binance’s report highlights that since October 2024, Solana’s DEX volumes have consistently surpassed Ethereum’s, recording a 200% increase in January compared to Ethereum.
This success is driven by the rising popularity of meme coins and AI-related projects. The launch of TRUMP and MELANIA tokens further boosted Solana’s blockchain traffic, reinforcing its leading role in the DeFi sector.
As we wrote, Binance is one of the most popular cryptocurrency exchanges with its proprietary platform based on the TradingView toolkit. It is good for diversifying risks for active cryptocurrency traders.
