Binance Research – Monthly Market Insights, Oct 2025

The main topic of the report is the analysis of the cryptocurrency market state for October 2025.

Key findings include a 4.3% growth in the cryptocurrency market capitalization in September due to the US Federal Reserve's interest rate cut. Bitcoin's dominance increased to 58.1%, while Ethereum's share decreased to 13.0%. There were significant inflows into Bitcoin ETFs and outflows from Ethereum ETFs. Changes in interest rate expectations following the FOMC meeting led to a typical 'sell the news' reaction in the crypto market. Over 90 crypto ETP applications in the US are awaiting approval, potentially impacting liquidity and access to regulated markets. Kalshi became the leading prediction market platform, surpassing Polymarket, with volumes exceeding $850M. Rapid growth was observed in decentralized perpetual exchanges with daily volumes exceeding $65–70 billion.