In October the total crypto market capitalization fell by 9.1%, to $2.70 trillion, according to Binance Research’s monthly review for October 2026.
Most of the largest cryptocurrencies by market capitalization posted negative performance; Monero was the only top-ten asset to end the month in positive territory. Cryptocurrencies remain highly volatile.
Market capitalization and top-10 performance
In October the aggregate capitalization fell by 9.1%, to $2.70 trillion, erasing most of September’s 11% gain.
By month-end most coins in the top ten were down, with Monero remaining the sole profitable asset among the top 10.
Key events in October
The market was pressured by accelerating inflation in the US and expectations of further rate hikes by the Federal Reserve (the Fed). Investors also reacted to a sell-off in tech stocks amid concerns over artificial intelligence spending and its financing with loans.
The Federal Reserve (the Fed), at its meeting on 28 October, held the rate in the range 3.75−4%; ten participants supported that decision, while two voted for a hike. US inflation in September accelerated to 3.7%.
On 21 October the Office of the Comptroller of the Currency (OCC) completed drafting a rule to implement the GENIUS Act on payment stablecoins. On 29 October a security incident at Binance further worsened investor sentiment.
Investors and central banks
Large investors reduced their crypto exposures: spot exchange-traded funds (ETFs) for bitcoin recorded net outflows of about $516 million, while funds for Ether registered roughly $1.6 billion in outflows for October.
Eight of the ten Group of Ten (G10) central banks raised rates over the previous six months, two left them unchanged, and the pace of tightening slowed after the July peak. In the previous cycle, bitcoin hit a low in November 2022, and its six-month return turned positive in February 2023.
