Crypto Market Cap Hit Highest Levels Since 2021 in Q3: CoinGecko

Market Overview - The crypto market experienced a strong performance in Q3 2025, with total market capitalization increasing by 16.4% to reach $4 trillion, the highest since late 2021 [1] - Average daily trading volume rose by 43.8% to $155 billion, reversing previous declines in Q1 and Q2 [2] Stablecoins and DeFi - Stablecoins saw an 18.3% increase in market capitalization, reaching a record $287.6 billion, with Ethena's USDe gaining 177.8% to $9.4 billion [3] - DeFi's total value locked (TVL) surged by 40.2% to $161 billion, with the DeFi market cap climbing to $133 billion, indicating a growing appetite for decentralized services [4] Ethereum and BNB Performance - Ethereum (ETH) rose by 68.5% to close Q3 at $4,215, with trading volume nearly doubling to $33.4 billion due to significant inflows into US spot ETH ETFs [5] - BNB reached a new all-time high of $1,048 during the quarter, ending at $1,030, reflecting a 57.3% increase [6] Exchange Volumes - Centralized exchanges (CEXs) reported a 31.6% increase in quarterly spot volumes to $5.1 trillion, with Binance maintaining a 40% market share [7] - Perpetual decentralized exchanges (Perp DEXes) saw trading volumes rise by 87% to $1.8 trillion, with Hyperliquid holding a 54.6% market share [8]