HONG KONG , Oct. 12, 2025 /PRNewswire/ -- CoinEx Research's September 2025 Report: The crypto market rebounded in September, with Bitcoin at $114,000 and Ethereum above $4,100 despite a mid-month selloff due to macro concerns. The U.S. Federal Reserve cut rates by 0.25% and signaled more cuts, but Bitcoin 's link to global M2 growth lagged. Altcoins rallied, suggesting an altcoin season, while Perp DEXs, led by Hyperliquid and Aster, saw surging volumes. Ethena's USDe stablecoin hit $12 billion, with USDH and others emerging. Ondo Finance led tokenized stocks with $300 million TVL. Tokenized Pokémon cards traded $124.5 million in August. Stablecoin inflows of $8 billion signaled market strength.

Market Overview: Bitcoin Lags Global Liquidity

The cryptocurrency market ended September on a

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