BNB Chain leads DeFi growth despite “Red October” market correction
The post BNB Chain leads DeFi growth despite “Red October” market correction appeared on BitcoinEthereumNews.com.
BNB increased its monthly market cap by 6.2% to stand out as the only large-cap to finish in the green during the first red October since 2018. The total crypto market cap fell 6.1% during a volatile October, which also saw BTC’s market cap drop 4%, ADA’s value decrease by 24%, and SOL shed 12.7%. Binance Research has released a report discussing the monthly developments in the crypto market in October. The report stated that October was a volatile month across crypto markets, with major assets experiencing sharp corrections or selective resilience. It also implied that the downturn in “Red October” was partly due to the October 10 event, which wiped out over $19 billion in positions. Broader macroeconomic factors also weighed on sentiment. However, Binance Research observed that despite the correction, the Binance token’s October rally was fueled by strong ecosystem growth. The launch of Polymarket and Myriad prediction markets, along with the rollout of Ondo Finance’s tokenized stocks and ETFs on BNB Chain, supported this growth. BNB Chain leads DeFi growth Source: Binance Research DeFi TVL share of top blockchains. Despite the October downturn, BNB Chain led the growth of DeFi ecosystems, followed by Solana and Arbitrum. However, Ethereum and Tron posted slight drops. DeFi TVL (total value locked) also plummeted 4.85% MoM, as DeFi liquidity pulled out on market corrections. Meanwhile, stablecoin activity surged as investors sought safety. The total stablecoin market cap rose 3.54% as USDT continued to increase its lead over USDC. In October, JPYC (pegged on Japanese Yen) and EUROD (backed by the Euro) were introduced to the BNB Chain. The two expanded the range of stablecoins tied to major currencies beyond the U.S. dollar, enhancing the efficiency of cross-border payment. Binance Research observed that BNB Chain transactions spiked 135%. Meanwhile, the spike was…
Filed under: News - @ November 15, 2025 5:26 pm