Q3 2025 crypto market capitalization reaches highest point since late 2021

In Q3 2025, the cryptocurrency market capitalization increased by 16.4%, reaching 4 trillion USD, marking the highest level since late 2021.

Stablecoin market cap hit 287.6 billion USD, driven by USDe and USDC, while DeFi’s market cap surged by 40.2%, reinforcing its dominance.

Centralized exchanges saw spot trading volumes of 5.1 trillion USD, up 31.6%, while decentralized exchanges recorded a high of 1.8 trillion USD in perpetual contracts.