Crypto Market Cap Surges to $4 Trillion in 2025 Q3
The crypto market continued its upward trajectory in 2025 Q3, with total market capitalization increasing by 16.4%, reaching $4 trillion. This marks the highest valuation since late 2021.
- Market Growth: The market experienced a "second leg of recovery" due to increased liquidity, institutional inflows, and higher trading activity.
- Trading Volume: Average daily trading volume rose by 43.8% to $155 billion, reversing earlier declines.
Stablecoins and DeFi
- Stablecoins saw an 18.3% rise in market capitalization, totaling $287.6 billion. Ethena’s USDe grew by 177.8%.
- DeFi's total value locked (TVL) soared by 40.2% to $161 billion, with the DeFi market cap peaking at $181 billion.
- DeFi market share increased from 3.3% to 4%.
Ethereum and BNB Performance
- Ethereum [ETH] rose by 68.5% to close Q3 at $4,215, after hitting $4,946 in August.
- BNB [BNB] reached an all-time high of $1,048, ending the quarter at $1,030, a 57.3% increase.
Exchange Volumes
- CEX spot volumes increased by 31.6% to $5.1 trillion, led by Binance, Bybit, and Upbit.
- Binance maintained a 40% market share, while Bybit moved up to 3rd globally.
- Perpetual DEX volumes surged by 87% to $1.8 trillion, with Hyperliquid leading at 54.6% market share.
