Binance Research has shared insights about the current state of the crypto market. There are 47 active crypto ETF filings in the US, indicating growing interest in this investment vehicle.
At the same time, there has been a notable increase in meme coin launches, contributing to a surge in the number of tokens. Currently, there are over 37 million tokens in circulation, with many based on the Solana blockchain.
In January 2025, the crypto market reached its peak value for the year, with many sectors showing strong growth. However, AI-related crypto projects faced challenges, particularly due to the impact of a project called DeepSeek.
The Monthly Market Insights report from Binance Research highlights the rapid rise of new tokens. The popularity of token launchpads and the hype surrounding meme coins have driven the total number of tokens to exceed 37 million.
Projections suggest that this number could surpass 100 million by the end of the year. While this growth has sparked speculation and trading, it has also diluted capital across many projects, making it difficult for individual tokens to maintain high values.
Despite the excitement around meme coins, there are concerns. Binance warns that the influx of these tokens is diverting attention from traditional altcoins and diminishing long-term investment interest. Many of the new coins lack substantial market value.
The meme coin trend has significantly impacted decentralized exchanges (DEXs), especially on Solana. The increase in meme coin trading has led to a notable rise in Solana’s DEX volume, surpassing Ethereum’s trading ratio by over 300% in January.
The report also discusses political changes following Trump’s inauguration and their influence on the crypto industry. After SEC Chairman Gary Gensler resigned, ETF applications surged. Currently, there are 47 active ETF applications in the US, covering various asset types, including meme coins.
