In September 2025, Binance Research published a report on the state of the cryptocurrency market, noting mixed trends and a shift in investor interests.
Altcoins Take the Lead, Bitcoin Undergoes Profit-Taking
In August, Bitcoin experienced a pullback, and its market dominance fell to 57.3%, while Ethereum’s share increased to 14.2%. This indicates a clear shift of interest toward altcoins. ETH continues to grow due to corporate utilization, with more than 4.44 million ETH on institutional balance sheets. Chainlink (LINK) saw the highest growth at 35.9% after adding US GDP data feeds and partnerships with China.
DeFi Growth and New Milestones
DeFi protocols reached a record Total Value Locked (TVL) of 127 billion dollars, which is 72% higher than in January. Aave continues to dominate the market with 54% of overall lending TVL, while Maple and Euler have shown explosive growth at 586% and 1,466%, respectively.
Trends in Stablecoins and Token Buybacks
In August, Ethena released the yield-bearing stablecoin USDe, which reached a total supply of 12.2 billion dollars in just 536 days, significantly faster than other stablecoins. Meanwhile, DeFi platforms completed the largest token buyback of 166 million dollars, indicating growing confidence in these platforms.
Although the market experienced a slight contraction in August, the cryptocurrency ecosystem demonstrated resilience and capacity for growth. The decentralized finance market, rising ETH treasuries, and innovative stablecoin designs indicate the industry's strategic positioning for long-term sustainability.
