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Cryptocurrency exchange MEXC released its September performance figures, revealing a sharp uptick in user activity despite one of the most volatile months for global markets in 2025. According to the data, the number of traders engaging with newly listed tokens rose 64% month-over-month, while new token listings increased by 34%. Trading volume for these new listings surged 537%, underscoring liquidity inflows even as the broader crypto market endured a sharp correction.
The increased trading activity comes amid a turbulent macro backdrop. Bitcoin and other major cryptocurrencies fell sharply in early October as U.S.–China trade tensions escalated, triggering a $19 billion liquidation cascade — the largest in crypto history. Despite the turmoil, newly listed tokens showed remarkable resilience, attracting liquidity and speculative capital during a period when leverage-heavy markets were being rapidly unwound.
Among standout performers were Perpetual DEX tokens, with AVNT rallying 5,400% and ASTER climbing 712%. The stablecoin and RWA-linked category also posted strong returns, led by STBL (+12,125%), RIVER (+1,900%), and XPL (+747%). Meanwhile, the BSC ecosystem continued to dominate, with four projects averaging gains above 4,300% and securing the month’s highest ecosystem performance. Notably, 60% of top-performing tokens ranked high in both trading volume and price appreciation — an indication that liquidity depth and investor activity are increasingly moving in tandem.
The data reported by MEXC might be evidence of growing sophistication among crypto participants. The surge in new-token trading volumes suggests that retail and institutional traders alike are embracing risk exposure through selective, narrative-driven assets such as decentralized derivatives and AI- or RWA-linked protocols. This trend aligns with a broader shift across exchanges toward structured token discovery models and curated listings.
Macroeconomic forces may also play a role in sustaining the trend. Seasonal strength in digital assets — often referred to as “Uptober” — has coincided with expectations of Federal Reserve rate cuts and easing global liquidity conditions. Historically, October has been one of crypto’s most profitable months, averaging double-digit returns across major assets since 2013.
Still, analysts caution that volatility could return quickly. Liquidity shocks, sudden regulatory shifts, or renewed geopolitical frictions could weigh on momentum.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team