Stronger Foundations Built Behind Crypto 2025 Price Swings

Crypto prices were a mixed bag in 2025, but behind the scenes and away from the market volatility, so-called “structural pillars” like user access, settlement rails and regulations improved, says Binance.

Prices across the crypto market fluctuated significantly throughout 2025, with Bitcoin () swinging between a low of $76,000 in April and a new all-time high of over $126,000 in October.

Binance Research in a report on Thursday that mark movements aside, regulatory clarity with legislation like the and , helped establish stablecoins as “essential global settlement infrastructure.”

“The optimistic narrative is straightforward: stablecoins are increasingly a default medium of exchange inside crypto markets and an increasingly practical rail for cross-border settlement, payments, and fintech applications,” Binance said.

“In many cases, stablecoins allow users and businesses to access crypto rails while abstracting the volatility that makes newcomers hesitant,” they added.

Corporations, banks moved further into crypto

At the same time, regulated investment vehicles such as in “breadth and structure, reinforcing ETFs as the preferred institutional access route,” and opening up more pathways for user access, Binance said.

Corporations , with over 190 public companies adopting digital asset strategies, increasing overall adoption and investor exposure to crypto through shares.

Binance said banks also moved closer to mainstream , and five major US banks — the Bank of America, JPMorgan, BNY Mellon, Wells Fargo and Citibank —are launching or piloting Bitcoin-backed credit products.

“These offerings allow clients to borrow cash while holding their Bitcoin long-term, thereby avoiding taxable sales. The integration of institutional-grade custody and compliance frameworks marks a significant milestone for mainstream crypto finance,” they added. 

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Network more secure, monthly on-chain addresses grow

There were also signs of quiet growth. The number of active on-chain addresses peaked above 300 million in June, before coming back down to a base of around 230 million by year-end, “reflecting steady and sustained user engagement worldwide,” according to Binance.

Meanwhile, sustained miner investment helped strengthen the Bitcoin network’s security, with the and mining difficulty rising 36% year-on-year.

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