Market Trends & Signals: Notable Crypto Events Shaping Q3 2025

Amid stalling NFTs and institutional interest, what key trends are steering the crypto ship this quarter?

NFTs & DeFi: Mixed Signals

Despite an overall 9% month-over-month rise in Total Value Locked (TVL), NFT trading volume dwindled—down 19.6% on Ethereum and 51% on Polygon. Legacy collections like Bored Apes, CryptoPunks, and Pudgy Penguins remain dominant, signaling strength in blue-chip assets but challenging broader momentum.

Institutional & Retail Behavior

According to Gemini’s “State of Crypto 2025,” 39% of U.S. crypto holders now invest in spot-linked ETFs—up from 37%—underscoring ETFs’ continued appeal as a bridge between traditional finance and digital assets.

Conversely, a Fidelity study shows that new investors remain drawn to crypto over ETFs—citing accessibility, social media buzz, and speculative upside. But experts caution against replacing ETFs with crypto investments, urging a balanced strategy that treats crypto as speculative—not foundational.

Geopolitics Get Crypto-Savvy

In regulatory news, Pakistan has doubled down on blockchain integration. The Pakistan Crypto Council (PCC), led by government officials and integrating Binance’s founder as adviser, has established a Strategic Bitcoin Reserve and allocated 2,000 MW of power to mining and AI data centers. Additionally, the newly minted Virtual Assets Regulatory Authority (PVARA) will license and regulate crypto services—blending innovation with oversight.

Why This Development Matter