Latest Crypto Market News Today, September 25: Why is Crypto Down Today? BTC Price Below 112K USD, ETH Dips Under 4K

A huge $20M Ethena crypto buy from M2 investments could cement an emerging foothold above $0.55 for ENA price, but can it fuel a reversal?

Ethena’s drive to cement its role as the leading synthetic dollar protocol has taken a decisive step forward after M2 Capital committed $20M to purchase ENA, the network’s governance token.

The move is designed to accelerate the adoption of Ethena’s products across the Middle East, a region positioning itself at the front line of regulated digital asset growth.

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Nine of Europe’s biggest banks—including ING, UniCredit, Danske Bank, SEB, KBC, DekaBank, Banca Sella, and Raiffeisen Bank International—have decided to collaborate on a euro-backed stablecoin. Under the European Union’s (EU) Markets in Crypto-Assets Regulation (MiCA) framework, the collaborating banks will roll out the stablecoin in the second half of 2026. Will this be a game-changer for European crypto payments?  Will the euro-backed stablecoin reduce Europe’s reliance on US dollar-denominated stablecoins? 

On 25 September 2025, ING released the joint statement confirming that “the initiative will provide a real European alternative to the US-dominated stablecoin market, contributing to Europe’s strategic autonomy in payments.”

According to the banking giants, the stablecoin will provide near-instant, low-cost payments and settlements. Furthermore, it will enable 24/7 access to efficient cross-border payments, programmable payments, and improvements in supply chain management and digital asset settlements, which can vary from securities to cryptocurrencies.

💥BREAKING

NINE EUROPEAN BANKS ARE TEAMING UP TO LAUNCH A MICA COMPLIANT EURO STABLECOIN, WITH A TARGET DEBUT IN 2026.

TRADITIONAL FINANCE IS LOCKING IN ON DIGITAL MONEY FOR THE EUROZONE. ⚡️ pic.twitter.com/W967MJW3gR

— DustyBC Crypto (@TheDustyBC) September 25, 2025

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ASTER crypto has surged over 7,000% since its launch on September 17, but there is a good chance that the Binance founder CZ-backed project will go to zero before 2025 comes to a close.

The first step in Aster’s demise has already begun, with the token falling -12% overnight and losing its pivotal $2 level. While it has since reclaimed $2, it continues to drop below, and due to the token shooting up so quickly, it has had no time to establish solid support levels. This means that just as quickly it rose, it will fall similarly fast.

🚨 $ASTER IS THE BIGGEST SCAM OF THE LAST 4 YEARS!

Everyone fell for CZ’s backing and rushed to buy by mistake

I uncovered leaked SECRET files with the insiders’ malicious plan

Here’s why you should never buy $ASTER 🧵👇 pic.twitter.com/q2Vk6i66Zl

— niku (@DefiNiku) September 24, 2025

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Binance founder CZ has truly kicked off the ‘Perp DEX Szn’ following the huge ongoing success of ASTER and his X post from yesterday, which has garnered attention for others in the space. Traders are left wondering whether ASTER, DRIFT, HYPE, or another perp dex platform will be the next 1000x crypto as we head into Q4.

ASTER continues to dominate mindshare right now, as it holds steady above $2 following this morning’s market-wide dump that briefly saw ETH drop below $4,000.

(SOURCE: DefiLlama)

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PUMP crypto continues to be the ‘memecoin’ within the Solana ecosystem. Why? The answer is because Solana SOL $65.91 5.45% Solana SOL Price $65.91 5.45% /24h Volume in 24h $2.57B Price 7d Buy with Best Wallet meme coins pop up rapidly via Pump.fun. Rather than fading, PUMP shows durable signs of life, and it keeps Solana underlying crypto active. The two remain deeply intertwined; PUMP depends on Solana speed and low fees, while the crypto chain benefits from the speculative excitement PUMP brings.

onboarding the masses takes time, but they are coming…

Daily Active Users on the pump fun mobile app are up over 450% over the past 90 days 🔥

the future of @solana is on pump fun. pic.twitter.com/V32fU2gSX4

— pump.fun (@pumpdotfun) September 18, 2025

Recent figures challenge the declining PUMP narrative. Pump.fun routinely collects about $2.5 million in daily fees, translating to over $20.89 million in monthly revenue and pushing toward an annual run‑rate beyond $770 million. Over a 30‑day span, DEX volume through Pump.fun stands near $3.68 billion, while Solana crypto chains overall host about $76.64 million in daily trades. If PUMP crypto were dying, these numbers don’t show it.

(source – Dune)

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The bull crypto market *is* over, for crypto at least. You should have sold. To be clear, the whole of twitter was saying altseason is here last week. So where is it? What if you’re wrong and the bull market is actually over? And you still didn’t take advantage?

Every YouTuber and crypto influencer is telling us to HODL. No way they could all be wrong, right?

Just one week after the Fed’s first rate cut of 2025, Chair Jerome Powell struck a cautious note on Tuesday. He admitted the US labor market is softening, inflation is still running hot, and policymakers face what he called “two-way risk.”

“There is no risk-free path forward,” Powell said, leaving October’s policy decision wide open.

Futures now price in a 92% chance of another cut in October, up from 89.8% before Powell spoke, with traders betting on three total cuts by year-end. But will all of this be enough for the crypto markets if we enter another recession?

DISCOVER: 20+ Next Crypto to Explode in 2025

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The crypto market has been highly volatile lately, with Bitcoin’s dip to $112K wiping billions from altcoin valuations. Memecoins were hit especially hard. PEPE fell 16%, TRUMP coin dropped 18%, and SHIB barely held its key support level. Yet history shows that meme tokens often rally hard after September’s weakness during altcoin season.

Here’s a breakdown of these three major memecoins and one fresh contender that could become the next crypto to explode.

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