Key notes
- The market value of cryptocurrencies rose by 16.4% to $4 trillion, the highest level since 2021.
- Daily trading volume jumped by 43.8%, reaching $155 billion.
- The market capitalization of stablecoins has reached an all-time high of $287.6 billion.
The cryptocurrency market recorded another strong quarter in Q3 2025, continuing its third consecutive rise. The total market capitalization rose 16.4%, adding $563.6 billion to reach $4 trillion, the highest valuation since the late 2021 bull run.
CoinGecko’s newly released Q3 2025 Cryptocurrency Industry Report described This quarter is considered the “second leg of recovery” in the market, driven by increased liquidity, renewed institutional flows, and a sharp recovery in trading activity.
Total cryptocurrency market cap and trading volume for Q3 2025 | Source: CoinGekko
Average daily trading volume jumped 43.8% to $155 billion, reversing declines seen in the first quarter and second quarter, the CoinGecko report revealed.
CoinGecko’s Q3 2025 Cryptocurrency Industry Report is Now Live
The cryptocurrency market maintained its momentum in the third quarter, rising to its highest level since late 2021. Liquidity rose with major currencies such as $ Ethereum and $BNB Recording its highest levels ever.
Here are 7 key points you should not miss
pic.twitter.com/xFdVen1hcp
— Coin Gecko (@coingecko) October 16, 2025
Stablecoins and DeFi are regaining dominance
Stablecoins recorded an 18.3% increase in market cap to reach a record high of $287.6 billion. Ethena’s USDE was the biggest percentage gainer, expanding 177.8% in market cap to $9.4 billion, while Tether’s USDT
USDT
$1.00
24-hour fluctuations:
0.0%
Market value:
$181.48 billion
Vol. 24 hours:
$125.68 billion
It added $17 billion but lost market share to emerging competitors.
DeFi has also made a strong comeback, with total value locked (TVL) rising 40.2% to $161 billion by the end of September. CoinGecko added that the DeFi market cap has risen to $133 billion alongside Ethereum.
Ethereum
$4015
24-hour fluctuations:
0.2%
Market value:
$484.71 billion
Vol. 24 hours:
$40.87 billion
Prices are rising, peaking at $181 billion in late September.
Q3 2025, DeFi Market Capitalization and Total Market Share | Source: CoinGekko
DeFi’s share of the total cryptocurrency market rose from 3.3% to 4% on a quarterly basis, indicating increased appetite for decentralized services and governance.
Ethereum and BNB reach all-time highs
CoinGecko revealed that ETH is one of the standout performing coins, rising 68.5% to close the third quarter at $4,215 after reaching an all-time high of $4,946 in August.
Trading volume nearly doubled, from a daily average of $19.5 billion in the second quarter to $33.4 billion in the third quarter, mainly due to massive inflows into US ETH ETFs.
BNB Bank
BNB Bank
$1173
24-hour fluctuations:
0.1%
Market value:
$163.45 billion
Vol. 24 hours:
$4.14 billion
It also reached a new all-time high of $1,048 during the quarter, and ended at $1,030, an increase of 57.3%. The altcoin went on to break the $1,300 level in October, supported by the launch of the permanent DEX Aster and the integration of PancakeSwap into Binance’s Alpha program.
High volume of centralized and decentralized exchanges
Centralized exchanges (CEXs) saw quarterly spot volumes rise 31.6% to $5.1 trillion, led by leading platforms Binance, Bybit and Upbit.
Binance increased its quarterly trading volume by 40.2%, while maintaining a 40% market share. Bybit rose from sixth to third place globally, while Coinbase fell behind in 10th place despite a 23.4% volume increase and plans for its core token in the near future.
Spot trading volume for the third quarter of 2025 | Source: CoinGekko
Meanwhile, perpetual decentralized exchanges (Perp DEXes) have reached new heights, with trading volume rising 87% to $1.8 trillion. Hyperliquid maintained its lead with a 54.6% market share, although competitors Aster, Lighter and edgeX are making rapid progress.
Aster reported daily trading volumes of $84.8 billion in September amid a boom in the BNB ecosystem with the debut of Four.Meme.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to provide accurate and timely information but should not be considered financial or investment advice. Since market conditions can change rapidly, we encourage you to verify the information yourself and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the world of cryptocurrencies and finance, amassing industry experience having survived both bear and bull markets over the years. Barth is also the author of four self-published books.
The post Crypto Market Cap Hits Highest Since 2021 in Q3 first appeared on Investorempires.com.
