Liquidity Flywheel Drives Binance to 300 Million Users

Kaiko Research’s Top 10 Charts of 2025

Year in Review

Macro

01/12/2025

    Welcome to the Data Debrief!

    Welcome back to the Data Debrief! In this report, we look back on 2025 and the key forces that shaped markets. From BTC record highs and fleeting altcoin rallies to major liquidation events and evolving regulation, we examine what shaped a seminal year for crypto

    • What tokens broke new ground

    • How European regulation impacted markets

    • Hacks, liquidation events, and more

    kaiko research top 10 charts of 2025

    2025 was a big year for crypto, and despite many positives and record highs, we face the final few week’s of the year in the doldrums. Prices are down and morale is exponentially worse as gains have been completely wiped out, but beyond the returns there’s still some highlights to hold on to.

    We cover the highs, the lows, and the outlook in this week’s Data Debrief, read the full report now on the Kaiko App.

    Want the full analysis?

    Subscribe to Kaiko Research Premium for more market insights.

    Get the full analysis

    Already subscribed ? Log in now.

    Data Used In This Analysis

    Our industry-leading crypto research is the direct result of combining our proprietary data with world-class in-house experts. Bringing the very best of Kaiko’s people and crypto data together, we unlock the unique insights that form the basis for our discoveries and analysis. We believe in doing so, our data speaks for itself, helping both our clients and the wider industry get a better understanding of the crypto ecosystem, and the evolving trends and patterns in motion at a regional and global scale.

    • Market Explorer

      Price and transaction volume for centralized and decentralized exchanges.

    • Level 1 & Level 2 Market Data

      Tick and aggregated market data, from cryptocurrency exchanges.

    • Blockchain Monitoring Tool

      All users, all transactions, and all history for blockchain wallets.

    More From Kaiko Research

    • Indices

      06/01/2026 Data Debrief

      The Rise and Repricing of Digital Asset Treasuries

      As digital assets mature and market structure deepens, corporate and institutional crypto holdings are being reclassified from speculative bets to managed treasuries. Instead of sitting passively on balance sheets, these positions are increasingly treated as a distinct asset pool, with dedicated strategies for liquidity, risk, and yield.

    • Derivatives

      29/12/2025 Data Debrief

      Santa Rallies, Cycles, and Year-End Reflections for Bitcoin

      As markets approach the end of the year, Bitcoin finds itself at a familiar crossroads, caught between cyclical behavior and a steadily developing market. While year-end seasonality has historically played a role in shaping price action, recent data suggests that cyclical drivers are increasingly dominant.

    • Derivatives

      22/12/2025 Data Debrief

      Crypto in 2026, What Breaks, What Scales, What Consolidates

      Crypto markets enter 2026 in a markedly different position than in prior cycle transitions. Rather than resetting after a speculative peak, the market appears to be progressing through a phase of institutional consolidation.

      Written by Thomas Probst
    • Year in Review

      01/12/2025 Data Debrief

      Kaiko Research's Top 10 Charts of 2025
      In this report, we look back on 2025 and the key forces that shaped markets. From BTC record highs and fleeting altcoin rallies to major liquidation events and evolving regulation, we examine what shaped a seminal year for crypto.