Binance Research released the latest research report, pointing out that the total market value of the crypto market rebounded by 8.6% in May, while the total locked value (TVL) of the decentralized finance (DeFi) market increased by 21.7%. In contrast, the NFT market performed poorly, with the total transaction volume falling by 41% to US$630 million. The report pointed out that the preliminary approval of the Ethereum ETF and the passage of the new technology bill in the United States were the main driving forces for the market recovery. Solana performed the strongest, with a price increase of 33.9%.