Market Analysis October 25, 2025

CoinGecko 2025 Q3 Crypto Industry Report

Analysis of the crypto market's continuous rally, reaching market cap and new highs for ETH and BNB.

- HighCrypto Research Team

Executive Summary

The CoinGecko 2025 Q3 Crypto Industry Report confirms a sustained market rally. For 3 consecutive quarters, the market has expanded, adding +$563.6 billion to its capitalization, now reaching levels not seen since late 2021.

Key Highlights

  • $4 Trillion Market Cap: The highest valuation in nearly 4 years.
  • Broad Recovery: Trading volume, DeFi TVL, and Stablecoins all surging simultaneously.
CoinGecko Q3 Report Overview

1ļøāƒ£ Overall Market Outlook

The recovery momentum solidified in Q3 2025, driven by institutional re-entry and retail resurgence.

+16.4%
Market Cap
$4.0T
+43.8%
Daily Volume
$15.5B
+18.3%
Stablecoins
$28.7B
+40.2%
DeFi TVL
$16.1B

2ļøāƒ£ Stablecoins Hit All-Time High šŸŖ™

The top 20 stablecoins added +$4.45 billion, signaling massive liquidity inflows ready to deploy.

USDe (Ethena)

+177.8%

Fastest grower, flipping USDS to become the 3rd largest stablecoin.

USDT (Tether)

+$1.7B

New inflows recorded, though market dominance adjusted to 61%.

USDC (Circle)

Strong Inflow

Signaling continued Western institutional re-entry into the market.

3ļøāƒ£ Ethereum Leading šŸš€

ETH price surged +68.5% during Q3, hitting a new All-Time High (ATH) of $4,946. It remains the preferred asset for institutional allocation in this cycle.

  • • Q3 Close: $4,215 (Strong rebound play)
  • • Catalyst: Spot ETH ETF inflows & corporate treasury buying
Daily Volume
$33.4B
↑ from $19.5B in Q2

4ļøāƒ£ BNB's Explosive Return šŸ”„

After months of stagnation, BNB has made a significant rebound, breaking $1,369 in early Q4.

Key Growth Drivers

Aster Launch
New Perp DEX
PancakeSwap
Deep Integration
BSC DeFi
Activity Surge

5ļøāƒ£ DeFi's Resurgence šŸ“ˆ

Total Value Locked (TVL)

+40.2%
From
$11.5B
To
$16.1B

Market share rose from 3.3% → 4.0%

6ļøāƒ£ CEX Rebound šŸ’¹

Spot trading volume surged +31.6% QoQ to reach $5.1 Trillion.

@binance
+40.2%
$2.06T Vol
@Official_Upbit
+40.5%
Fastest Growth
@Bybit_Official
+38.4%
Top 3 Global
@coinbase
+23.4%
Top 10 Global

7ļøāƒ£ Record Highs for DEX Derivatives āš™ļø

Perpetual DEX Volume

$1.8 Trillion

Analysis: An 87% increase QoQ signals a fundamental shift towards on-chain trading.

1
Hyperliquid
54.6% Share
2
Aster
$84.8B Daily High

8ļøāƒ£ Market Summary 🌬

Q3 2025 was the "Second Wind" the market needed.

Liquidity Returning
Institutional Stability
DeFi Revitalized
Majors (ETH/BNB) Leading

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