CoinW Research Institute Weekly Report (March 30, 2026 - April 5, 2026)

2026-04-07 14:56:48

Collection

The total market value of cryptocurrencies worldwide is $2.45 trillion, up from $2.37 trillion last week, representing an increase of approximately 3.37% this week.

Key Points

The total market capitalization of cryptocurrencies is $2.45 trillion, up from $2.37 trillion last week, representing an increase of approximately 3.37% this week. As of the time of writing, the cumulative net inflow of the U.S. Bitcoin spot ETF is approximately $55.96 billion, with a net inflow of $22.34 million this week; the cumulative net inflow of the U.S. Ethereum spot ETF is approximately $11.48 billion, with a net outflow of $71.17 million this week.

The total market capitalization of stablecoins is $30.99 billion, down from $30.87 billion last week, a decrease of approximately 0.39%; among them, the market capitalization of USDT is $18.407 billion, accounting for 59.39% of the total market capitalization of stablecoins, unchanged from last week; followed by USDC with a market capitalization of $7.75 billion, accounting for 25.0%, down from $7.77 billion last week, a decrease of approximately 0.26%; the market capitalization of DAI is $536 million, accounting for 1.75% of the total market capitalization of stablecoins, unchanged from last week.

According to DeFiLlama data, the total TVL of DeFi this week is $94.524 billion, up from $92.769 billion last week, an increase of approximately 1.89%. By public chain classification, the three public chains with the highest TVL are Ethereum, accounting for 57.03%; Solana, accounting for 6.85%; and BNB Chain, accounting for 5.69%.

This week, on-chain data overall weakened. The daily trading volume of on-chain DEXs generally declined, with Solana still leading at $0.92 billion (-14.42%), while Ethereum ($0.563 billion, -22.88%), BNB Chain ($0.528 billion, -32.65%), and Ton ($0.0012 billion, -43.32%) experienced relatively significant declines; transaction fees remained stable overall, with only Solana ($0.004) and Sui ($0.00164) increasing by 28.77% and 38.51%, respectively. User activity showed significant differentiation, with Solana's daily active users reaching 4.036 million (+8.34%) continuing to lead, Sui (284,000, +14.38%) achieving growth compared to last week, while Aptos (-52.09%), Ethereum (-10.54%), and Ton (-6.45%) saw declines; in terms of TVL, Ethereum remains in first place with $54.47 billion (+3.17%), BNB Chain ($5.38 billion, +2.75%) saw slight growth, while Solana ($5.57 billion, -11.88%) and Aptos ($0.269 billion, -8.19%) experienced declines.

New Project Focus: OmenX is an innovative leveraged prediction trading platform where users can transform various real-world events (including sports matches, financial prices, technological achievements, etc.) into tradable prediction markets on-chain. PumpCA is a meme coin issuance and trading platform based on the Solana ecosystem, positioned similarly to a "meme launchpad," with the core goal of allowing users to quickly create, issue, and trade their own tokens. CADE Market is an open prediction/trading venue that allows users to engage in price speculation and liquidity trading around various events, topics, or assets.

Key Points

I. Market Overview

Total Market Capitalization of Cryptocurrencies / Bitcoin Market Capitalization Ratio
Fear Index
ETF Inflow and Outflow Data
ETH/BTC and ETH/USD Exchange Rates
Decentralized Finance (DeFi)
On-Chain Data
Market Capitalization and Issuance of Stablecoins

II. Hot Money Trends This Week

Top Five VC Coins and Meme Coins by Increase This Week
New Project Insights

III. New Developments in the Industry

Major Industry Events This Week
Major Upcoming Events Next Week
Important Investments and Financing from Last Week

IV. Reference Links

I. Market Overview

1. Total Market Capitalization of Cryptocurrencies / Bitcoin Market Capitalization Ratio

The global total market capitalization of cryptocurrencies is $2.45 trillion, up from $2.37 trillion last week, representing an increase of approximately 3.37% this week.

Data Source: Bitcoin dominance from cryptorank, https://cryptorank.io/charts/btc-dominance

Data as of April 5, 2025

As of the time of writing, the market capitalization of Bitcoin is $1.38 trillion, accounting for 56.33% of the total market capitalization of cryptocurrencies. Meanwhile, the market capitalization of stablecoins is $30.99 billion, accounting for 12.65% of the total market capitalization of cryptocurrencies.

Data Source: coingeck, https://www.coingecko.com/en/charts

Data as of April 5, 2025

2. Fear Index

The cryptocurrency fear index is 14, indicating extreme fear.

Data Source: coinglass, https://www.coinglass.com/pro/i/FearGreedIndex

Data as of April 5, 2025

3. ETF Inflow and Outflow Data

As of the time of writing, the cumulative net inflow of the U.S. Bitcoin spot ETF is approximately $55.96 billion, with a net inflow of $22.34 million this week; the cumulative net inflow of the U.S. Ethereum spot ETF is approximately $11.48 billion, with a net outflow of $71.17 million this week.

Data Source: sosovalue, https://sosovalue.com/zh/assets/etf

Data as of April 5, 2025

4. ETH/BTC and ETH/USD Exchange Rates

ETHUSD: Current price $2,146.74, historical highest price $4,946.05, down approximately 56.66% from the highest price.

ETHBTC: Currently at 0.030917, historical highest at 0.1238.

Data Source: ratiogang, https://ratiogang.com/

Data as of April 5, 2025

5. Decentralized Finance (DeFi)

According to DeFiLlama data, the total TVL of DeFi this week is $94.524 billion, up from $92.769 billion last week, an increase of approximately 1.89%.

Data Source: defillama, https://defillama.com

Data as of April 5, 2025

By public chain classification, the three public chains with the highest TVL are Ethereum, accounting for 57.03%; Solana, accounting for 6.85%; and BNB Chain, accounting for 5.69%.

Data Source: CoinW Research Institute, defillama, https://defillama.com

Data as of April 5, 2025

6. On-Chain Data

Layer 1 Related Data

Mainly analyzing daily trading volume, daily active addresses, and transaction fees for the current major Layer 1s including ETH, SOL, BNB, TON, SUI, and APTOS.

Data Source: CoinW Research Institute, defillama, https://defillama.com

Data as of April 5, 2025

On-chain DEX daily trading volume and transaction fees: The daily trading volume and transaction fees of on-chain DEXs are core indicators of public chain activity and user experience. This week, the daily trading volume of on-chain DEXs declined to varying degrees across chains, with Ton ($0.0012 billion, -43.32%) and BNB Chain ($0.528 billion, -32.65%) experiencing the largest declines; followed by Ethereum ($0.563 billion, -22.88%), Solana ($0.92 billion, -14.42%), Aptos ($0.019 billion, -12.60%), and Sui ($0.031 billion, -3.29%). In terms of transaction fees, Ethereum ($0.01), BNB Chain ($0.00001), and Ton ($0.0033) remained basically unchanged from last week; Solana ($0.004) and Sui ($0.00164) increased by 28.77% and 38.51%, respectively; Aptos ($0.000001) decreased by 8.43% compared to last week.

Daily Active Addresses and TVL: Daily active addresses reflect the ecological participation and user stickiness of public chains, while TVL reflects the level of trust users have in the platform. In terms of daily active addresses, BNB Chain (2.42 million) remained almost unchanged from last week; Aptos (514,000), Ethereum (455,000), and Ton (104,000) saw declines of 52.09%, 10.54%, and 6.45%, respectively; while Sui (284,000, +14.38%) and Solana (4.036 million, +8.34%) saw increases. In terms of TVL, Solana ($5.57 billion, -11.88%) and Aptos ($0.269 billion, -8.19%) experienced declines, while other chains showed little change, with Sui ($0.566 billion, +0.89%), Ethereum ($54.47 billion, +3.17%), BNB Chain ($5.38 billion, +2.75%), and Ton ($0.055 billion, -1.38%).

Layer 2 Related Data

According to L2Beat data, the total TVL of Ethereum Layer 2 this week is $30.70 billion, down from $30.97 billion last week, a decrease of 0.87%.

Data Source: L2Beat, https://l2beat.com/scaling/tvs

Data as of April 5, 2025

This week, Base and Arbitrum's market shares are 36.36% and 16.79%, ranking first and second.

Data Source: CoinGecko, https://www.coingecko.com/en/chains/layer-2

Data as of April 5, 2025

7. Market Capitalization and Issuance of Stablecoins

According to Coinglass data, the total market capitalization of stablecoins is $30.99 billion, down from $30.87 billion last week, a decrease of approximately 0.39%; among them, the market capitalization of USDT is $18.407 billion, accounting for 59.39% of the total market capitalization of stablecoins, unchanged from last week; followed by USDC with a market capitalization of $7.75 billion, accounting for 25.0%, down from $7.77 billion last week, a decrease of approximately 0.26%; the market capitalization of DAI is $536 million, accounting for 1.75% of the total market capitalization of stablecoins, unchanged from last week.

Data Source: CoinW Research Institute, Coinglass, https://www.coinglass.com/pro/stablecoin

Data as of April 5, 2025

According to Whale Alert data, this week the USDC Treasury issued a total of 2.948 billion USDC, while Tether Treasury had no issuance of USDT this week. The total issuance of stablecoins this week is 2.948 billion, an increase of 22.83% compared to last week's total issuance of 2.400 billion.

Data Source: Whale Alert, https://x.com/whale_alert

Data as of April 5, 2025

II. Hot Money Trends This Week

1. Top Five VC Coins and Meme Coins by Increase This Week

The top five VC coins by increase in the past week

Data Source: CoinW Research Institute, coinmarketcap, https://coinmarketcap.com/

Data as of April 5, 2025

The top five meme coins by increase in the past week

Data Source: CoinW Research Institute, coinmarketcap, https://coinmarketcap.com/

Data as of April 5, 2025

2. New Project Insights

OmenX is an innovative leveraged prediction trading platform where users can transform various real-world events (including sports matches, financial prices, technological achievements, etc.) into tradable prediction markets on-chain, and conduct buy and sell transactions through a leveraged mechanism similar to perpetual contracts, significantly enhancing capital efficiency and liquidity. Compared to traditional prediction markets that require funds to be locked for long periods, OmenX combines a high-performance matching engine with perpetual trading logic, allowing traders to amplify their risk exposure and flexibly enter and exit the market at any time, aiming to treat global events as a tradable and highly liquid asset class. The platform has opened a public testnet, with a trading interface supporting long/short positions and 3x--10x leverage options, and plans to launch a more complete version on the Base mainnet, providing a transparent and high-speed event-driven financial derivatives trading environment for global users.

PumpCA is a meme coin issuance and trading platform based on the Solana ecosystem, positioned similarly to a "meme launchpad," with the core goal of allowing users to quickly create, issue, and trade their own tokens. The project emphasizes "low barriers + instant launch," allowing users to deploy new coins without complex development, and complete liquidity and trading within the platform, with an overall mechanism leaning towards community-driven and high-frequency trading scenarios. Its native token PUMPCADE is mainly used for trading within the ecosystem, liquidity participation, and potential incentive mechanisms. Overall, PumpCA is more of a combination of an "on-chain token issuance tool + trading venue," emphasizing rapid launch and market speculation attributes, serving as a typical infrastructure for meme asset issuance.

CADE Market is an open prediction/trading venue that allows users to engage in price speculation and liquidity trading around various events, topics, or assets. From a product logic perspective, it is closer to a Web3 application that combines prediction markets, meme trading, and lightweight derivatives mechanisms, lowering the barriers to creating and participating in markets, allowing users to quickly initiate or participate in trades around hot narratives, thus achieving direct monetization of attention and liquidity. Meanwhile, such platforms typically emphasize decentralization, permissionless market creation, and high dissemination, aiming to build a new trading ecosystem on-chain centered around "narrative as an asset."

III. New Developments in the Industry

1. Major Industry Events This Week

On March 30, 2026, Based's native token BASED held a Token Generation Event (TGE), with tokens directly distributed to eligible users' Hyperliquid wallets (no manual claim required), and the receiving address must be set or updated before March 25 at 12:00 UTC. The total supply of BASED is 1 billion tokens, with token distribution including community incentives, ecological rewards, investors, and core contributors. Based (BASED) is a next-generation trading and consumption platform built by the BasedOneX ecosystem, which includes modules such as DeFi super applications, derivatives trading, prediction markets, and payment functions.

On March 30, 2026, R2 Protocol launched its token R2, providing market liquidity and public trading, with a maximum supply of approximately 1 billion tokens. R2 Protocol is a DeFi protocol focused on on-chain real-world asset (RWA) yield management, with the core goal of providing structured yield products for stablecoin holders, rather than simple high-risk farming yields. The protocol manages "Vaults" of different risk/liquidity levels through smart contracts, allowing users to deposit stablecoins like USDC and USDT into the protocol to mint yield-bearing stablecoins (such as R2USD) and obtain yield returns backed by real-world assets, while establishing clear redemption logic and risk boundaries, making on-chain yields closer to traditional wealth management models.

On March 31, 2026, the decentralized perpetual contract trading platform edgeX held a Token Generation Event (TGE) and launched its native token EDGE, while also initiating a token airdrop and claiming mechanism. Eligible users can verify and claim tokens on the official platform by connecting to Base network-compatible wallets. EDGE is the native token of the edgeX platform, mainly used for trading fee discounts, staking rewards, and governance functions within the ecosystem. The project operates on a dedicated EDGE Chain, supporting high-performance perpetual contracts, spot trading, and future expansion into prediction markets.

On April 1, 2026, the blockchain project USD.AI officially announced on social platform X that its native token CHIP's airdrop is now open for claims, available to 1CO participants and eligible airdrop users, with a claim deadline of May 30, 2026, and tokens will be distributed to participants' wallets. USD.AI aims to build AI-related stablecoins and liquidity protocols, combining underlying computing power with financial liquidity through GPU-supported lending and yield mechanisms, promoting the enhancement of AI infrastructure and on-chain capital efficiency. This CHIP airdrop is an important step in promoting community growth and token distribution.

2. Major Upcoming Events Next Week

Sentio will open token Pre-TGE subscriptions on April 7, 2026, from 08:00 to 10:00 (UTC), releasing 10,000,000 ST tokens at a price of approximately $0.02 per token (about 1% of the total supply). From a mechanism design perspective, participation amounts are subject to certain restrictions, and the tokens obtained will not be fully immediately tradable, but will be subject to lock-up and phased release (vesting) arrangements, thus managing potential selling pressure before TGE. Sentio is positioned as an infrastructure platform for on-chain data and developers, focusing on providing real-time data indexing, analysis, and monitoring capabilities to help developers and project parties build data-driven applications and automated strategies.

Global football media and technology company OneFootball will hold its native token OFC's Token Generation Event (TGE) on April 9, 2026, supported by CoinList for the issuance and distribution, with participants' tokens sent directly to their non-custodial CoinList wallets. This TGE is an important milestone for OneFootball in advancing its blockchain-based fan economy system, aiming to incentivize global football enthusiasts (with over 200 million platform users) to participate in content interaction, reward collection, FanPass functions, and digital collectibles, serving as the foundation for building a fan-driven Web3 community, perfectly aligning with user growth opportunities ahead of the 2026 FIFA World Cup.

Fluent (BLEND) will launch an ICO on April 7, 2026, continuing until April 13, 2026. This public sale plans to sell 10,000,000 tokens at a price of approximately $0.1 per token, aiming to raise about $1 million, corresponding to an overall project valuation of about $100 million. This ICO sets a 100% lock-up mechanism at TGE to control selling pressure in the early stages of issuance. Fluent is a blockchain infrastructure project aimed at multi-virtual machine (Multi-VM) execution environments, positioned as a next-generation Ethereum Layer 2 network and development framework.

3. Important Investments and Financing from Last Week

The Better Money Company announced the completion of a $10 million seed round financing. This round was led by a16z crypto, with participation from BoxGroup and Sunflower Capital, as well as several angel investors including Sean Neville and Charlie Songhurst, with specific valuation not disclosed. The project is positioned as a "stablecoin clearinghouse," with the core goal of creating a low-cost stablecoin exchange and settlement infrastructure, enabling users to efficiently transfer funds between different dollar-pegged stablecoins. In terms of ecological cooperation, the project has received preliminary support from institutions such as Paxos, Bridge, and MoonPay, and plans to prioritize access to a compliant stablecoin system that meets the U.S. "Genius Act" regulatory framework. (March 31, 2026)

Blockchain private credit startup Valinor announced the completion of a $25 million seed round financing. This round was led by Castle Island Ventures, with participation from the crypto division of Susquehanna, Maven11, and founders of TeraWulf, with specific valuation not disclosed. Valinor was founded by members of private credit teams from traditional financial institutions (such as Blackstone), positioned as on-chain private credit infrastructure in the RWA sector, with the core goal of reconstructing traditional private credit processes through blockchain and smart contracts, replacing manual review and form management with automated execution, thus improving loan issuance efficiency and capital flow capabilities; this round of funding will mainly be used to expand lending scale and team building, promoting the on-chain process of private credit assets. (March 30, 2026)

Tokenized asset platform Midas announced the completion of a $50 million Series A financing. This round was led by RRE and Creandum, with participation from several institutions including Coinbase Ventures, Franklin Templeton, Framework Ventures, and GSR, with specific valuation not disclosed. Midas was established in 2024 and is a company focused on asset tokenization and on-chain investment product infrastructure, dedicated to transforming investment strategies from traditional finance (such as funds, yield products, etc.) into digital assets that can circulate on the blockchain, providing transparency, composability, and instant liquidity. (March 30, 2026)