--- title: "Uptober 2025: Can October Deliver Another Crypto Rally?" date: 2025-10-01T09:58:05+00:00 canonical: https://funkyonchain.pages.dev/en/p/uptober-2025-10월은-다시-상승의-달이-될-수-있을까/ original: https://t.me/funkyonchain/2136 publisher: Funkyonchain lang: ko license: CC-BY-4.0 --- # Uptober 2025: Can October Deliver Another Crypto Rally? > 🍩 Uptober 2025: Can October Deliver Another Crypto Rally? Every year around this time, the crypto market returns to the idea of “Uptober” — a combination of “up” and “October.” It is more than a meme: trading activity and major events have often coincided in October to change the direction of the… 🍩 **Uptober 2025: Can October Deliver Another Crypto Rally?** Every year around this time, the crypto market returns to the idea of “Uptober” — a combination of “up” and “October.” It is more than a meme: trading activity and major events have often coincided in October to change the direction of the market. To put Uptober in context, this article covers four areas: 1. October trading volume and major events over the past three years 2. The historical events that shaped Uptober 3. DEX and [pump.fun](http://pump.fun/): the rise of onchain trading 4. The outlook for Uptober 2025 **1. What happened in October over the past three years?** **October 2022 — The depths of the downturn** * Volume: CEX spot volume was $929 billion and derivatives volume was $2.22 trillion, for a combined total of approximately $3.15 trillion. DEX volume was $56.1 billion, its lowest since January 2021. * Events: The BNB Chain bridge was hacked for $570 million, and $DOGE surged after Elon Musk completed his acquisition of Twitter. Liquidations totaled $1.21 billion on October 26 alone. **October 2023 — Early signs of recovery** * Volume: Combined CEX volume was approximately $2.57 trillion, up 53% from the previous month. * Events: A false report that a spot Bitcoin ETF had been approved sent $BTC to $30,000 before it fell sharply. Upbit’s market share surged. **October 2024 — Trading picks up again** * Volume: Combined CEX volume was $5.19 trillion; DEX volume was $194.7 billion. * Events: $BTC approached its previous high ahead of the U.S. presidential election. DEX volume subsequently reached record highs of $374 billion in November and $462 billion in December. 👉 October marked a clear progression: the 2022 downturn, the 2023 recovery and the start of a rally in 2024. **2. The major events that shaped Uptober** * FTX collapse (2022-11): the height of the crisis of confidence. * SEC lawsuits against Binance and Coinbase (2023-06), followed by CZ’s guilty plea and the $4.3 billion settlement. * Spot $BTC ETF approvals (2024-01): the beginning of institutional capital inflows. * $BTC halving (2024-04): momentum from reduced supply. * Spot $ETH ETF listings (2024-07): Ethereum’s entry into institutional finance. * Mt.Gox repayments begin (2024-07): concerns about large-scale selling. Together, these events show a market that evolved from collapse to regulatory shock, ETF approvals and an onchain recovery. **3. DEX and [pump.fun](http://pump.fun/): the rise of onchain trading** **The shift from CEX to DEX** * In the second quarter of 2025, DEX volume rose 25% from the previous quarter while CEX volume fell 28%. The DEX-to-CEX ratio reached an all-time high. **Solana DEX activity** * Monthly volume has exceeded $100 billion since late 2024. * On September 26, 2025, daily volume reached $4.44 billion, well above its usual level. **[pump.fun](http://pump.fun/): a memecoin laboratory** * October 2024: Daily trading volume exceeded $2 billion, and monthly revenue reached $30.5 million. * Early 2025: Trading volume fell sharply amid fraud concerns, from $119 billion to $44 billion. * September 2025: Daily trading volume recovered to more than $1 billion. * Current figures from DefiLlama: * 30-day volume: approximately $3.37 billion * 7-day volume: approximately $547.7 million * 24-hour volume: approximately $101.6 million * Market capitalization: $2.28 billion; cumulative fees: $793 million 👉 DEX and pump.fun have become more than isolated events: they are now central engines of onchain liquidity. **4. The outlook for Uptober 2025** **Positive factors** * Continued inflows into spot $BTC and $ETH ETFs. * Renewed onchain trading centered on Solana and [pump.fun](http://pump.fun/). * Trading-volume patterns repeated in previous Uptobers. **Risks** * Regulatory and legal risks involving the SEC and DOJ. * Selling pressure from Mt.Gox repayments. * Structural pump-and-dump risks in the memecoin market, a pattern also identified statistically in research. **Conclusion:** An Uptober rally in 2025 remains a strong possibility, but it is more likely to take the form of rallies rotating between chains and sectors than a straight-line surge. If ETF capital and onchain liquidity come together, Uptober could become a reality again. For informational purposes only. Not financial advice. Invest at your own risk. This material is for informational purposes and does not constitute investment advice. You are responsible for your own investment decisions. --- 출처 / Source: Funkyonchain — https://funkyonchain.pages.dev/en/p/uptober-2025-10월은-다시-상승의-달이-될-수-있을까/ 원문 / Original Telegram post: https://t.me/funkyonchain/2136