🟦September 2025 once again lived up to its reputation as a difficult month for cryptocurrencies. According to VanEck, 23 of the top 35 tokens ended the month in the red. Bitcoin gained 5%, while Ethereum lost the same amount, leaving the MarketVector Smart Contract Leaders Index flat overall. Historically, September has been a vulnerable period — since 2016, both BTC and ETH have more often closed the month with losses.
🟦Still, the market saw some positive developments. The launch of the Plasma blockchain with a $10B market cap and the $1.25B XPL airdrop helped sustain investor interest, while BNB rose 16%. Activity also picked up in the DEX Aster and perpetual futures sectors, which grew by 30%. However, a 16% drop in blockchain revenues and declining volatility suggest the market remains in a phase of cautious recovery.