Coinbase: DAT holds more than 1 million BTC, and the market may continue to strengthen in the fourth quarter of this year

Odaily Planet Daily News Coinbase Global Research Director pointed out in its latest report that the crypto market is expected to continue its strength at the beginning of the fourth quarter of 2025, with drivers including abundant liquidity, a favorable macro environment and supportive regulatory dynamics. Bitcoin has fallen in September for six consecutive times between 2017 and 2022, but has broken this "September effect" in 2023 and 2024, the report said. The market is currently in the "player game" stage of the digital asset treasury (DAT) cycle, with funds accelerating the flow to large crypto assets, while small DATs may enter the integration period. As of September 10, DAT has held over 1 million BTC (about 110 billion US dollars), 4.9 million ETH (about 21.3 billion US dollars) and 8.9 million Solana (about 1.8 billion US dollars).