The global cryptocurrency market capitalization rose 16.4% in Q3 2025, adding $563 billion to reach $4.4 trillion—its highest level since 2021. CoinGecko attributes the rally to expanding institutional participation and favorable state policies such as California’s SB 822, which shields unclaimed digital assets from forced liquidation. Trading volumes climbed across major exchanges, signaling revived retail confidence. Analysts suggest the uptrend may persist as Bitcoin ETF inflows and Web3 infrastructure funding sustain market momentum into late 2025.