Binance Research – Monthly Market Insights, Sep 2025

The main theme is the analysis of the cryptocurrency market for September 2025, including the performance of DeFi, NFTs, and the impact of macroeconomic factors such as interest rate changes.

Key findings include a 1.7% decrease in the total cryptocurrency market capitalization in August, a decline in Bitcoin dominance while Ethereum's share increased, historical evidence that lowering interest rates does not always lead to Bitcoin price increases, USDe's significant growth reaching US$12.2B becoming the fastest asset to surpass the US$10B mark, DeFi protocols showing significant growth in 2025 with a 72% increase in TVL, and DeFi platforms conducting token buybacks totaling US$166 million in August 2025.