Crypto market loses $160B in ‘Red September’, yet millionaires soar 40% in 2025

  • ‘Red September’ shakes crypto markets, wiping out over $160 billion in value.
  • Bitcoin, Ethereum, and Solana test critical support levels amid high volatility.
  • Number of crypto millionaires rises 40% in 2025, now at 241,700 globally.

The cryptocurrency market underwent notable turbulence over the past 24 hours, with traders waking up to shifting sentiment and volatile price action on Thursday.

Recent days saw the so-called “Red September” event, which erased over $160 billion from the global crypto market cap amid ongoing macroeconomic pressures, ETF outflows, and liquidations.

Yet, beneath the broad declines, pockets of resilience and buying emerged in selective coins.

With central banks sending mixed signals and regulatory debates intensifying, investors are recalibrating positions, all while institutional flows remain significant.

As Q4 approaches, analysts anticipate a more stable narrative may soon take hold, but volatility remains the dominant theme for now.

Crypto majors test key support levels

Bitcoin (BTC) is oscillating near crucial support levels, recently trading just above $113,000 after rebounding 0.82% in the last 24 hours.

Analysts warn that fading institutional demand could push BTC toward the $108,000 zone if sentiment sours.

Ethereum (ETH) also saw weakness, falling below $4,130, down 1.4% with market-watchers eyeing $3,800 as a possible accumulation point if the decline deepens.

Solana (SOL), despite heavy treasury accumulation, stalled just beneath its 2021 peak, trading near $210 and dipping 1.66% in the last session, testing long-held support.

XRP, conversely, exhibited strength with a 2.93% pop and growing bullish momentum; some chartists see a breakout above $3.33 as pivotal for double-digit ambitions.

Dogecoin (DOGE) held steady, barely advancing 0.2% amid ongoing meme-coin sector liquidations.

Overall, major cryptos remain sensitive to both headline risk and technical factors, with their trajectories hinging on ETF flows, macro signals, and speculative rotation.

Crypto millionaires surge in 2025

The latest Crypto Wealth Report for 2025 highlights just how sharply fortunes have shifted in digital assets, as the number of crypto millionaires worldwide soared 40% year-on-year to reach 241,700.

Leading this surge is Bitcoin, the cornerstone of the crypto economy, with a remarkable 70% jump in those holding seven-figure BTC portfolios, now numbering over 145,000.

At the very top, there are 36 crypto billionaires and 450 “centi-millionaires” who each hold at least $100 million in digital assets.

This wealth explosion comes as the broader market cap of cryptocurrencies hit $3.3 trillion, up 45% from last year, reflecting not just price appreciation but growing adoption globally.

More than ever, Bitcoin is seen less as a speculative bet and more as financial infrastructure: a collateral base for new financial systems operating outside traditional controls.

Notably, the report underscores how crypto’s borderless nature is redrawing global wealth patterns, with Singapore, Hong Kong, and the US emerging as leading destinations for crypto investors.

In this new landscape, holding millions simply means memorizing a 12-word seed phrase, with instant access from anywhere in the world—highlighting a profound shift in how, and where, wealth is stored and moved.

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Solana (SOL) sets new milestone as tokenized assets value hits $671M all-time high

  • Solana’s RWAs hit $671M, boosted by $150M from BlackRock’s BUILD fund.
  • RWA and stablecoin activity surges, signaling growing user and institutional adoption.
  • SOL trades at $214, holding $210 support; analysts eye potential move toward $250.

Solana continues to prove the power of utility-driven projects over hyped ones.

Its tokenized real-world assets (RWAs) have soared to a record $671 million, setting a new all-time high and cementing Solana’s status as a hot blockchain.

The BlackRock effect

The milestone comes after $150 million in new capital poured into Solana via BlackRock’s BUILD fund.

That confirms robust interest from institutional players.

Such breakthroughs indicate a key shift, with Solana’s low fees and speed now attracting massive on-chain transfers.

Indeed, BlackRock’s fund has ignited Solana’s RWA marketplace, as anticipated.

BUILD focuses on tokenizing traditional assets and money market funds.

Thus, the massive injection into the SOL network signals is a significant vote of confidence.

Besides boosting numbers, institutional inflows bring attention, credibility, and liquidity.

These factors are crucial for any project’s growth.

Solana’s ecosystem heats up

It is not only the project’s dollar value that’s soaring. Solana has exhibited a healthy ecosystem lately.

Its RWA transfer volume increased by roughly 23% to $12.19 billion in the past month.

Moreover, RWA holders jumped 17% to 77,982 wallets.

That confirms new participants joining the network as institutional players lead the charge.

Also, stablecoin transfer volume surged 26.23% in the last 30 days to $318.99 billion.

The $12.37 billion stablecoin market cap and 11.43 million holders affirm Solana’s position as a go-to platform for on-chain settlement.

Growing grassroots activity amid increasing institutional inflows indicates a healthy ecosystem flourishing on all fronts.

Solana sees activity from day-to-day users and wealthy financial institutions.

Solana’s institutional activity

The RWA breakthrough comes as institutional investors continue to transform Solana’s long-term narrative.

Galaxy Digital-linked Forward Industries holds SOL worth approximately $1.63 billion.

Also, Pantera Capital has invested over $1 billion, signaling trust in Solana’s long-term potential.

Moreover, Helius Capital added over 760K SOL tokens to its treasury, with plans to scale using a significant $335 million cash reserve.

SOL price outlook

Solana’s native token performed well in the past few sessions, rallying to $250 monthly highs.

However, the upside steam weakened, and bears seem to control the short-term trajectory.

SOL is trading at $214 after losing 8% and 2% the past week and day.

The altcoin’s underperformance is likely anticipated as prices cool down after the latest rally from around $150 in early August.

Also, the downward trajectory coincides with broader market dips.

Analysts remain bullish on Solana, citing bullish fundamental and technical factors.

The digital asset is holding the key support zone at $210.

Validating it could catalyze short-term gains toward the $250 target.

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Chainlink integrated into Canton Network as a super validator

  • Chainlink brings oracles and CCIP to Canton’s institutional blockchain.
  • Canton processes $280B daily repos and secures $6T in tokenised assets.
  • BNP Paribas, HSBC, and P2P.org recently joined the Canton Foundation.

Chainlink has joined the Canton Network as a super validator, deepening the blockchain’s institutional focus and bringing a suite of oracle services to its privacy-driven architecture.

The move aligns Canton’s ambitions for large-scale tokenisation and regulated financial activity with Chainlink’s proven infrastructure in securing real-world data and cross-chain communication.

The Chainlink integration into the Canton Network

As part of the agreement, Chainlink Labs will operate as a super validator on Canton.

In this role, it will run a combined node that functions as both a domain validator and a synchronizer, giving it a hand in ordering and finalising cross-domain transactions.

This integration places Chainlink at the core of Canton’s consensus process, ensuring transaction finality while also bolstering the network’s interoperability across different domains.

Canton has also joined the Chainlink Scale program, which helps manage the costs of running oracles on-chain.

The collaboration also extends Chainlink’s data services to the Canton Network, including its real-time data streams, proof of reserve, and NAVLink, along with the cross-chain interoperability protocol (CCIP).

These tools are designed to allow institutions in Canton to connect securely with external data sources, tokenised assets, and even other blockchains.

The arrangement underscores Canton’s strategy of creating a controlled but flexible environment where traditional financial institutions can operate with confidence.

Canton Network’s ability to handle sensitive financial data

Since launching in May 2023, the Canton Network has positioned itself as a blockchain purpose-built for institutional finance.

The Canton Network describes itself as a privacy-focused blockchain that allows institutions to issue and transact tokenised securities, stablecoins, and digital identity tools without compromising compliance standards.

Backed by major global players such as Microsoft, Goldman Sachs, BNP Paribas, Cboe Global Markets, Digital Asset, and Paxos, the network emphasises privacy and regulatory compliance while supporting large-scale financial applications.

Its governing body, which recently rebranded from the Global Synchronizer Foundation to the Canton Foundation, counts Chainlink among its leading validators.

The network now oversees more than $6 trillion in tokenised real-world assets, processes $280 billion in daily repo transactions, and is secured by 500 validators, including over 30 super validators.

BNP Paribas and HSBC recently joined the foundation, while P2P.org has come aboard as a validator.

By weaving in Chainlink’s infrastructure, Canton is reinforcing its ability to handle sensitive financial data while still connecting to broader blockchain ecosystems.

Analysts view this as a powerful combination since Chainlink already secures more than $100 billion in decentralised finance (DeFi) and has facilitated over $25 trillion in transaction value, and now it is being tasked with underpinning Canton’s institutional-grade environment.

Notably, the integration arrives at a time when global banks and financial firms are accelerating blockchain initiatives, from stablecoin pilots to tokenised fund experiments, underscoring the demand for secure, compliant systems.

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FTX Token soars after jailed former CEO Bankman-Fried’s post on X

  • A single “gm” post on X from an account linked to SBF drove a 60% FTT price surge, highlighting the market’s volatility.
  • FTX’s $1.6 billion creditor payout looms, potentially impacting FTT’s value as liquidation risks grow.
  • Despite no utility, FTT’s rally reflects lingering investor fascination with FTX’s legacy.

FTX Token (FTT), the native token of the now-defunct FTX exchange, experienced a dramatic 60% price increase within hours early Wednesday.

The token surged after Sam Bankman-Fried’s (SBF) X account put a post.

SBF is the former CEO of FTX currently in jail.

The surge to an intraday peak of $1.21 also came as FTX Recovery Trust sued Genesis Digital for $1.15 billion.

FTX token soars amid SBF tweet

FTT price hovered over $1 on Monday and Tuesday, mirroring crypto turbulence this week.

However, it exploded well above the psychological level on Wednesday.

The catalyst for the sharp price movement appears to be a two-letter post “gm,” shorthand for “good morning”, that Sam Bankman-Fried posted on September 24, 2025.

SBF, jailed for his role in the collapse of FTX, looks to be a massive shadow looming large across the market as his post quickly garnered nearly 4 million views.

The FTT price jumped as a frenzied speculative trend picked up momentum.

Some market participants interpreted it as a signal of potential developments in FTX’s bankruptcy process, while others viewed it as a nostalgic nod to SBF’s influence in the crypto space.

A 60% spike to $1.21 separated FTT from the overall picture of a broader market downturn.

Prices pared gains after the X account posted again a few hours later.

Despite this, FTT price remained near $1 and was up 19% in the past 24 hours at the time of writing.

Notably, the price surge also came as FTX Trust sued Bitcoin mining firm Genesis Digital over a $1.15  billion asset investment that SBF made.

In a filing submitted Monday to the US Bankruptcy Court for the District of Delaware, the FTX Recovery Trust launched a complaint against crypto mining firm Genesis Digital Assets (GDA), its affiliates, and two of its co-founders.

The action is part of efforts to reclaim $1.15 billion in what it described as “commingled and misappropriated funds.”

The filing alleges that the funds are directly connected to former FTX chief Sam Bankman-Fried’s “fraud on customers and other creditors” during 2021 and 2022.

What’s the FTT price outlook?

FTT’s price currently stands at $0.9704, with a 24-hour trading volume of approximately $17.64 million.

The token’s market capitalization is reported at $272.9 million, reflecting a circulating supply of 328.89 million FTT.

The token’s long-term viability remains questionable, as it no longer serves a functional role and may face liquidation to settle creditor claims in FTX’s ongoing bankruptcy proceedings, set to distribute $1.6 billion.

FTT could breach $1.21 again and target $2 amid overall volatile trajectory for altcoins.

But the token’s historical high of $85.02 contrasts starkly with its current levels.

The FTX Token is down 98.8% since its all-time peak, with the bearish outlook tied to its turbulent past.

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