Binance Research (@BinanceResearch)

Half-Year 2026: Exchanges and Institutions A full breakdown of H1's crypto exchanges, stablecoins, institutional trends, and crypto regulation and policy heading into H2. Read the full report 🔽

Time to explore August's market insights! Discover key insights on: 🔸 Rise of TradFi-Perps 🔸 bStocks Captured 1/4 of Tokenization Stock Market 🔸 Retail-Accessible Arbitrage 🔸 Equity Fund Flow Recap ...and more. Read here ⬇️

AMD and SpaceX both reported Q2 after yesterday's close. Nasdaq doesn't reopen for another 17 hours. On Binance, the verdict was in within minutes. 🔸 AMDUSDT ~US$525 → ~US$475. Beat on revenue, EPS and guidance. Missed on gross margin, 54% vs 56%. 🔸 SPCXUSDT ~US$126 → ~US$115. Revenue +92% YoY. Capex US$18.4B, over 6x a year ago. AI's seller and AI's buyer, marked down on the same question. Price discovery no longer waits for the bell.

30% of Gen Z began investing during early adulthood. Gen Z is also the largest user cohort trading Direct Stocks, bStocks, and TradFi-Perps on Binance, contributing an aggregate US$80B in trading volume across these products. Learn more 🔽

Half-Year 2026: Macro & Bitcoin A full breakdown of the macro forces shaping global markets and where Bitcoin stands in its cycle heading into H2. Read the full report 👇

Crypto and traditional finance are converging — but most platforms still operate in silos. One exchange has built a different model: leading across every asset class, not just participating. A data-driven look at what multi-asset scale actually looks like. 🧵👇

Time to explore July's market insights! Discover key insights on: 🔸 Binance Equity Holders Conviction 🔸 SpaceX Pre-IPO Liquidity Transition 🔸 World Cup Prediction Market Record 🔸 Tokenized Stock as Price Discovery ...and more. Read here ⬇️

🧵 1/ The World Cup mapped a financial inclusion crisis: 74% of viewers came from regions where <7% have equity access. Regions that watch football most are where crypto is growing fastest—while equity access remains lowest 🌏 South & SE Asia: 54% 🌍 Africa & Middle East: 20% When the bank won't open the door, crypto builds a new one.

The tokenized market just crossed US$10B. About a year ago it was under US$1B. 🔸 80% of tokenized stock traded on Binance are from emerging market users 🔸 93% of trades are fractional 🔸 Median trade size: US$18.81 The stock market is being rebuilt from scratch. Read more ⬇️

1/5 Why is crypto weak lately? The answer may not lie in crypto itself — but in equities. CBOE Dispersion Index hit 42 — 3rd highest ever. It means extreme capital concentration within the S&P 500. When a few hot themes absorb all the flows, BTC gets sidelined. 🧵👇

Bitcoin in 2026 is not the Bitcoin of 2010. What once bought 2 pizzas is now a trillion-dollar asset with a different market profile: 60% supply unmoved 1Y+, cycle vol down ~50%, institutions own 18.5%, ETFs hold more BTC than is left to mine. Charts ⬇️

Crypto is not a safe haven for illicit finance. 📊 ~11% of illicit crypto volume was seized in 2025 – 55x the recovery rate for fiat. That figure comes from publicly reported actions by Tether, Interpol, the T3 Financial Crime Unit, and others — not a single agency estimate. 📌 For context: The UNODC estimates less than 1% of illicit fiat flows are seized globally each year. Even stripping out the Prince Group case alone (~US$15B in BTC), the remaining 2025 crypto seizures still run at roughly 10x that fiat baseline. 🔍 SlowMist and PeckShield tracked 8.3%–13.2% of stolen funds recovered or frozen in 2025 — reflecting fast incident response and tight coordination between exchanges, issuers, and law enforcement. The bottom line: Crypto crime isn't solved. But the idea that crypto is uniquely hospitable to illicit activity is increasingly a myth. Blockchain is transparent by design. Regulators and investigators are finally using that to full effect.

Tokenized RWA growth is accelerating. Distributed value now sits at US$31.4B, with two-thirds added in the past year alone. Yet penetration remains just ~0.01% of the core addressable market. Even sub-1% by 2030 implies a trillion-dollar market ➡️

1/ 🧵 Crypto already has 700M+ users globally. Over the past few years every catalyst — ETF approvals, institutional entry, stablecoin legislation — has driven growth. But the slope hasn't changed. Our research points to two reasons: user demand and awareness on one side, and crypto's product architecture on the other. By 2030, this number could be 3B. 👇

28% of Binance users keep at least half their portfolio in stablecoins. In 2020, that figure was 4%. In emerging markets, it's 36%. Crypto exchanges are becoming savings accounts.

Stablecoin market cap at a new ATH: ~$320B. <$5B in 2020 → $185B peak in 2022 → a steady multi-year climb to today's high. The supply side has never been deeper, and the slope hasn't broken since early 2024.