Crypto State of Play

Bitcoin traded at $81,286 and Ether at $2,374 at 08:34 UTC on 15 October. CoinGecko valued the whole crypto market at about $2.71tn in its separately timed global snapshot. Bitcoin stood about 36% below its October 2025 record.

$81,286

BTC · 15 Oct, 08:34 UTC

$2,374

ETH · 15 Oct, 08:34 UTC

-36%

BTC from record

1. 15 OctBitcoin traded at $81,286 and Ether at $2,374 at 08:34 UTC on 15 October. CoinGecko valued the whole crypto market at about $2.71tn in its separately timed global snapshot. Bitcoin stood about 36% below its October 2025 record. Read more →
2. 13 OctBitcoin traded at $82,281 and Ether at $2,456 at 01:46 UTC on 13 October. CoinGecko valued the whole crypto market at about $2.78tn in its separately timed global snapshot. Bitcoin stood about 35% below its October 2025 record. Read more →
3. 11 OctBitcoin traded at $82,976 and Ether at $2,500 at 09:43 UTC on 11 October. CoinGecko valued the whole crypto market at about $2.79tn in its separately timed global snapshot. Bitcoin stood about 34% below its October 2025 record. Read more →
4. 10 OctBitcoin traded at $83,008 and Ether at $2,506 at 22:44 UTC on 10 October. CoinGecko valued the whole crypto market at about $2.82tn in its separately timed global snapshot. Bitcoin stood about 34% below its October 2025 record. Read more →
5. 8 OctBitcoin traded at $82,569 and Ether at $2,544 at 11:06 UTC on 8 October. CoinGecko valued the whole crypto market at about $2.80tn in its separately timed global snapshot. Bitcoin stood about 35% below its October 2025 record. Read more →
6. 5 OctBitcoin traded at $85,448 and Ether at $2,708 at 18:18 UTC on 5 October. CoinGecko valued the whole crypto market at about $2.92tn in its separately timed global snapshot. Bitcoin stood about 32% below its October 2025 record. Read more →
7. 4 OctA vault on Base loses about $6m in six transfers of Aave receipt tokens. The controlling Safe accepted three owner signatures on the preceding permission calls. The incident concerns the vault and its approved contract. Read more →
8. 2 OctAs of 14:19 UTC, Bitcoin was $86,290 and Ether $2,734, up 2.9% and 1.6% in 24 hours; CoinGecko's global read at 14:13 UTC puts the whole market at $2.938tn, down 0.5% on the day. Bitcoin sits about 32% below its $126,080 peak of 6 October 2025.
9. 27 SepAs of 00:53 UTC, Bitcoin was $84,309 and Ether $2,693, up 0.5% and 0.2% in 24 hours; CoinGecko's global read at 00:49 UTC puts the whole market at $2.899tn. Bitcoin sits about a third below its $126,080 peak of 6 October 2025.
10. 26 SepBitget sets a phased return of withdrawals after the 24 September hack: Bitcoin from 08:00 UTC on 28 September, ETH on Ethereum and four other networks on 29 September, USDT on 30 September, and every other token, fiat and P2P from 2 October. Its recovery bounty, opened on 25 September, pays 5% of any stolen funds frozen, and 5% of any recovered, to whoever's voluntary action directly led to it (Bitget). Read more →

DefiLlama’s 15 October daily series records $307.24bn across all stablecoin pegs, including $305.52bn in dollar-pegged tokens. Circle’s published timetable places Noble in its redemption-only Circle Mint period from 13 October to 12 January 2027. Existing USDC remains transferable until the January pause.

$307.24bn

all pegs · 15 Oct

$305.52bn

USD pegs · 15 Oct

12 Jan 2027

Noble redemption deadline

1. 15 OctDefiLlama’s 15 October daily series records $307.24bn across all stablecoin pegs, including $305.52bn in dollar-pegged tokens. Circle’s published timetable places Noble in its redemption-only Circle Mint period from 13 October to 12 January 2027. Existing USDC remains transferable until the January pause. Read more →
2. 13 OctDefiLlama’s 13 October daily series records $312.72bn across all stablecoin pegs, including $311.03bn in dollar-pegged tokens. Circle’s published schedule ends new USDC minting on Noble through Circle Mint on 13 October; redemptions continue through 12 January 2027. Read more →
3. 11 OctDefiLlama’s 11 October daily series records $312.78bn across all stablecoin pegs, including $311.07bn in dollar-pegged tokens. Circle will stop new USDC minting on Noble through Circle Mint on 13 October; redemptions remain scheduled through 12 January 2027. Read more →
4. 10 OctStablecoins were worth $312.67bn in DefiLlama’s 10 October daily record, including $310.97bn of dollar-pegged tokens. Circle will stop new USDC minting on Noble through Circle Mint on 13 October; redemptions remain scheduled through 12 January 2027. Read more →
5. 8 OctCircle’s scheduled 13 October end of new USDC minting on Noble through Circle Mint. Redemptions continue to 12 January 2027; CCTP V1 burn limits start reducing on 31 October. Read more →
6. 8 OctStablecoins were worth $313.98bn in DefiLlama’s 8 October daily record, including $312.28bn of dollar-pegged tokens. Circle will stop new USDC minting on Noble through Circle Mint on 13 October; its published timetable keeps redemptions open until 12 January 2027. Read more →
7. 5 OctStablecoins were worth $313.88bn in DefiLlama's 5 October daily record, including $312.18bn of dollar-pegged tokens. Tether's USDT and Circle's USDC remain the two largest. US issuers supervised by the Federal Reserve have until 30 November to comment on its proposed GENIUS Act rules. Read more →
8. 2 OctDefiLlama's 2 October record puts stablecoins at $313.17bn across all pegs and the dollar-pegged category at $311.48bn. USDT stands at $184.14bn and USDC at $74.06bn, $1.34bn below the $75.40bn read on 27 September. Read more →
9. 27 SepDefiLlama's stablecoin count, read on 27 September, puts stablecoins at $313.20bn across all pegs and the dollar-pegged category at $311.60bn, with USDT at $183.91bn and USDC at $75.40bn. DefiLlama has since revised its daily series, which now reads $309.39bn and $307.80bn for 26 September. Read more →
10. 24 SepThe Federal Reserve Board proposes GENIUS Act rules for the stablecoin issuers it supervises, requiring full backing with short-term Treasury bills and other high-quality liquid assets plus standardised capital, and sets an application process for Board-supervised banks that want to issue one; comments run 60 days from Federal Register publication (federalreserve.gov). Read more →

DeFi protocols held $88.32bn in DefiLlama’s daily record for 15 October. Uniswap’s Arc fee expansion was executed on 5 October. Solana’s 200-millisecond slot target took effect on mainnet on 9 October.

$88.32bn

DeFi value locked · 15 Oct

200 ms

Solana slot target

5 Oct

Uniswap Arc execution

1. 15 OctDeFi protocols held $88.32bn in DefiLlama’s daily record for 15 October. Uniswap’s Arc fee expansion was executed on 5 October. Solana’s 200-millisecond slot target took effect on mainnet on 9 October. Read more →
2. 13 OctDeFi protocols held $90.26bn in DefiLlama’s daily record for 13 October. Uniswap’s Arc fee expansion was executed on 5 October. Solana’s 200-millisecond slot target took effect on mainnet on 9 October, halving its former 400-millisecond interval. Read more →
3. 11 OctDeFi protocols held $91.90bn in DefiLlama’s daily record for 11 October. Uniswap’s Arc fee expansion was executed on 5 October. Solana’s 200-millisecond slot target took effect on mainnet on 9 October, halving its former 400-millisecond interval. Read more →
4. 10 OctDeFi protocols held $92.27bn in DefiLlama’s daily record for 10 October. Uniswap’s Arc fee expansion was executed on 5 October. Solana’s 200-millisecond slot target took effect on mainnet on 9 October, halving its former 400-millisecond interval. Read more →
5. 8 OctDeFi protocols held $92.96bn in DefiLlama’s daily record for 8 October. Uniswap executed its Arc protocol-fee proposal on 5 October. Alchemy confirms Glamsterdam activated on Sepolia on 6 October at 13:53:36 UTC; Hoodi and mainnet dates remain to be announced. Read more →
6. 5 OctDeFi protocols held $96.16bn in DefiLlama’s daily record for 5 October. Uniswap executed its proposal to collect protocol fees on Circle’s Arc chain that day, following a vote of 46.26m UNI in favour and zero against. Ethereum’s next scheduled step is the Glamsterdam upgrade on the Sepolia test network on 6 October at 13:53 UTC. Read more →
7. 2 OctUniswap's Proposal 102, extending protocol fees and the UNI burn to Circle's Arc chain, has 46.26m UNI for and none against at 14:30 UTC, past the 40m quorum. Voting opened on 27 September and is due to close at 03:03 UTC on 3 October. Read more →
8. 1 OctDefiLlama's daily record puts total value locked across DeFi at $94.76bn. Read more →
9. 1 OctThe third quarter ends with Solana's Alpenglow consensus active on testnet and devnet. The Solana Foundation's upgrade page lists mainnet activation as pending, against a Q3 2026 target on Anza's v4.3 release schedule that has now passed. Read more →
10. 27 SepUniswap's Proposal 102, 'Protocol Fee Expansion: Arc', is on-chain with voting set to open on 27 September: it would extend fee collection and the UNI burn to Circle's Arc chain and switch on v2, v3 and v4 protocol fees there. The proposal counts eleven chains beyond Ethereum mainnet already collecting fees. Read more →

Applications for the full UK crypto regime opened on 30 September and close on 28 February 2027. In the US, the Federal Reserve’s proposed stablecoin rules are open for comment until 30 November. The SEC’s 1 October custody proposal would expand the ways funds and investment advisers can hold crypto; it remains a proposal.

28 Feb 2027

UK application window closes

30 Nov

Fed GENIUS comments due

Proposed

SEC crypto custody rules

1. 1 OctThe SEC proposes custody rules for investment advisers and regulated funds holding crypto: an adviser could hold a client's crypto itself when it finds no permitted custodian is available, re-checked quarterly, keeping each client's assets at addresses holding only that client's crypto and requiring two people to authorise any transaction, and state trust companies could serve as custodians. Comments run 60 days from Federal Register publication (sec.gov). Read more →
2. 1 OctNew York's Department of Financial Services and Wyoming's Division of Banking sign a memorandum of understanding on virtual currency and digital asset firms: shared licensing analysis for firms applying in both states, coordinated examination schedules working towards joint exams, and protocols for sharing supervisory reports and notice of potential enforcement actions (dfs.ny.gov). Read more →
3. 30 SepThe FCA opens its gateway: crypto firms can now apply for authorisation under the full UK regime through its Connect system, and firms that intend to keep operating in the UK should apply by 28 February 2027, ahead of commencement on 25 October 2027 (fca.org.uk). Read more →
4. 30 SepESMA answers the Commission's MiCA review consultation on the day it closes, asking for stricter rules on crypto marketing by influencers and third parties, powers to block fraudulent websites and freeze crypto assets, explicit rules stopping regulated firms offering services linked to stablecoins outside MiCA, clearer criteria for what counts as genuinely decentralised, a new regulated service for firms giving access to DeFi protocols, and binding ESMA opinions on token classification (ESMA75-113276571-1721). Read more →
5. 30 SepTreasury issues an interim final rule, in force the same day, on how the Stablecoin Certification Review Committee will approve or deny state regulators' certifications under the GENIUS Act; certifications are accepted only after Paperwork Reduction Act approval, and comments close on 30 November 2026 (Federal Register). Read more →
6. 30 SepOFAC designates ten targets tied to Tren de Aragua, among them an ATM jackpotting network Treasury says launders its proceeds through cryptocurrency; seven of the new sanctions entries list Tron addresses, and Treasury cites $40.73m of reported US jackpotting losses across more than 1,500 attacks to August 2025 (ofac.treasury.gov). Read more →
7. 29 SepThe Federal Reserve's two GENIUS Act proposals are published in the Federal Register with comments due by 30 November 2026. The main rule carries a rebuttable presumption, taken from the OCC's March draft, that an issuer paying yield through an affiliate or related third party is breaking the yield ban (Federal Register). Read more →
8. 29 SepHong Kong's government prices about HK$20bn (roughly $2.6bn) of digital green bonds in Hong Kong dollar, renminbi, US dollar and euro tranches on HSBC Orion, and the HKMA says the Hong Kong dollar tranche is the world's first digital bond to settle with tokenised deposits, through its Ensemble TX platform (hkma.gov.hk). Read more →
9. 25 SepThe SEC's Division of Corporation Finance issues nine staff answers on crypto assets: once a network is functional, announcing a token buyback, or funding its maintenance and upgrades, sits outside the managerial effort the Howey test looks for; before that point, a buyback presented as yield for holders could count. The answers are staff guidance (sec.gov). Read more →
10. 25 SepThe OCC's 60-day comment period on its GENIUS Act application forms for stablecoin issuers closes; a second notice with a 30-day comment period follows (Federal Register). Read more →

US spot Bitcoin ETFs received $21.1m on 9 October, while the week ended with $678.9m in net outflows. Cumulative net inflows stood at $57.18bn. Strategy’s latest reported holdings remain 848,000 BTC on 4 October; Bitmine reported 6,016,414 ETH for the same date.

+$21.1m

Bitcoin ETF flows · 9 Oct

-$678.9m

Bitcoin ETF flows · 5–9 Oct

848,000 BTC

Strategy · 4 Oct

1. 14 OctUS spot Bitcoin ETFs recorded $261.4m of net outflows. The three completed sessions from 12 to 14 October totalled $151.1m of outflows. Read more →
2. 10 OctUS spot Bitcoin ETFs received $21.1m on 9 October, while the week ended with $678.9m in net outflows. Cumulative net inflows stood at $57.18bn. Strategy’s latest reported holdings remain 848,000 BTC on 4 October; Bitmine reported 6,016,414 ETH for the same date. Read more →
3. 8 OctRWA.xyz’s distributed asset value reached $38.88bn, excluding stablecoins, down 0.99% over 30 days. Read more →
4. 8 OctUS spot Bitcoin ETFs lost $484.9m on 7 October, leaving cumulative net inflows of $57.40bn. Ether ETFs lost $160.9m that day, leaving $13.42bn of cumulative inflows. Those are the latest completed rows in Farside’s tables. Strategy reported 848,000 BTC held on 4 October; Bitmine reported 6,016,414 ETH for the same date. Read more →
5. 5 OctUS spot Bitcoin ETFs took in $189.9m on 2 October, bringing cumulative net inflows to $57.86bn. Ether ETFs lost $37.4m that day, leaving cumulative inflows of $13.83bn. Those are the latest completed rows in Farside’s tables. Strategy’s 5 October filing reports another 334 BTC bought, taking its holdings to 848,000 BTC. Read more →
6. 1 OctUS spot Bitcoin ETFs take a net $102.7m on 1 October, IBIT adding $195.6m while FBTC lost $60.7m and GBTC $31.4m. Cumulative net flow since launch stands at $57,667m (Farside). Read more →
7. 1 OctUS spot Ether ETFs post a third straight outflow day, -$55.4m on 1 October after -$2.8m and -$59.6m, following a seven-session inflow run worth $850.6m from 18 to 28 September. Cumulative net flow stands at $13,868m (Farside). Read more →
8. 30 SepThe spot Bitcoin ETFs' inflow run ends at nine sessions worth $3,075.5m, from 17 to 29 September, with a net -$148.7m on 30 September, $125.6m of it from FBTC. The 28 and 29 September rows added $31.0m and $66.2m (Farside). Read more →
9. 30 SepStrategy holds the dividend rate on its STRC preferred stock at 12.00% for periods from 16 October, and its special meeting on moving STRC to daily dividend record dates is set for 28 October (SEC EDGAR). Read more →
10. 28 SepStrategy's 8-K for 21 to 27 September records 1,665 BTC bought for $142.7m at an average $85,681, taking holdings to 847,666 BTC, bought for $63.95bn in all at an average $75,437 and worth about $73.15bn at CoinGecko's $86,290 at 14:19 UTC on 2 October. It also spent $151.7m repurchasing 1,534,530 STRC preferred shares (SEC EDGAR). Read more →