In October 2025, spot trading volume on major centralized exchanges rose by 36% from September, reaching the highest level since January, driven by political and regulatory changes in the US.
The surge indicates renewed interest from both institutional and retail investors, impacting liquidity and altcoin activity, with potential ongoing developments in the cryptocurrency market.
Market Activity and Key Drivers
In October 2025, spot trading volumes on centralized exchanges (CEXs) rose by 36% compared to September, marking the highest level since January 2025. This increase signals a renewed interest from both institutional and retail investors. Key players like Binance and KuCoin were involved, with Binance maintaining its position as the largest platform globally. The surge in volumes was mirrored by activities on decentralized exchanges (DEXs) as well.
Impact on the Crypto Market
The immediate effect on the crypto market was a significant uptick in trading activities, driven by institutional interest and retail participation. Volumes in Bitcoin and Ethereum rebounded, reflecting changes in market dynamics. Financial implications include increased liquidity and potential institutional engagement. As the market shows signs of recovery, industry analysts predict continued volatility fueled by meme coin and altcoin trading trends. Min Jun, Analyst at Presto Research, noted, "The crash caused significant instability and spurred trading as portfolios were rebalanced. Activity may persist if new drivers of volatility emerge..."
On-Chain Data and Future Outlook
On-chain data highlights a consistent shift in liquidity, largely driven by stablecoins, which enabled quick capital rotations. This showcases the market's internal adjustments more than external inflows. Technological outcomes might stem from heightened activity in alternative blockchain networks, such as Solana surpassing Ethereum in DEX volume. Analysts foresee sustained trading activity if market volatility persists, driven by market and regulatory developments.