Get in Touch

SOTM September 26 – October 2, 2025

Welcome to our 240th issue of State of the Market, where we provide an overview of crypto market activity from September 26 – October 2, 2025.

This week in crypto markets:

  • BTC surged past $120K, igniting a strong start to Q4 as ETH climbed above $4,400 and SOL crossed $230.
  • SWIFT is developing a blockchain-based settlement system for cross-border payments with Consensys and 30+ global banks.
  • Stripe launched Open Issuance, a platform powered by Bridge that enables businesses to issue and manage their own stablecoins.
  • The SEC is developing a plan to allow U.S. stocks to trade on blockchains, potentially accelerating the rollout of tokenized equities.
  • VanEck filed for a Lido Staked Ethereum ETF, registering it as a statutory trust in Delaware.
Read More

Brought to you by coinmetrics.io

Meet the Upgraded Dashboard
Compare up to four columns, add row context, and work faster in an intuitive workspace.
Try It Now
Weekly Metric Minute
Bite-size, data-driven crypto insights straight from our latest research every week.
Watch Now
Learn with Matthias
Short videos teach you to unlock deeper insights using Coin Metrics dashboards, APIs, and market data.
View Tutorials

Follow Us on X

Share on

Latest from CM

Our Special Insights

Dive Deeper

State of the Market

A weekly newsletter contextualizing the week’s crypto market movements with concise commentary from the Coin Metrics team, rich visuals and timely data

State of the Network

An unbiased, weekly report on the most important developments in the digital assets industry informed by Coin Metrics’ own network (on-chain) and market data

Products

Charts

Insights

Company

Resources

© 2025 Coin Metrics Inc. All rights reserved.

Phone-alt Envelope X-twitter Linkedin

Coin Metrics has been acquired by Talos.

Read more