Data-driven research from @CoinDesk. Deep coverage of protocols, exchanges and stablecoins. Award-winning reports, definitive market data, custom research.
RESEARCH: APAC accounts for 51.2% of identified stablecoin payment volume, making it the largest regional hub. As use moves beyond trading, APAC is becoming a proving ground for regulated payments, treasury and settlement where compliance-first stablecoins, including @Ripple’s $RLUSD, gain relevance.
Crypto exchange activity rebounded in August, with combined spot and derivatives volumes on CEXs rising 12.7% to $4.29T.
Spot volumes climbed 18.7% to $891B, outpacing the 11.3% increase in derivatives volumes to $3.40T.
RWA perpetuals reached a new monthly record of $602B in August.
@Gate was a standout performer, with volumes surging 158% to $64.7B. Its share of CEX RWA perp volumes more than doubled from 5.32% to 12.6%, making it the third-largest venue.
Binance strengthened its derivatives lead in August.
Volumes rose 13.1% to $1.59T, lifting market share to 46.9% - the sixth consecutive monthly increase and the highest level since November 2023.
Read the full August Exchange Review, supported by @Gate: coindesk.com/research/exchan…
@RobinhoodCrypto chain is producing real activity with its main advantage unused. TVL is up ~90% in 30 days to ~$757M, now the 12th-largest chain, while Robinhood's own users are ~1-2% of transactions. The distribution channel is still switched off.
Underneath the trading, a settlement base is forming: stablecoin supply ~$868M (+15.8% in 7 days), rising lending TVL, ~$197M in RWA market cap. Early primitives are building on it, like @deltaliquidity, offering concentrated-liquidity ladders and fee routing, a Robinhood-Chain analogue to Solana's Meteora.
REPORT: Stablecoins returned to growth in August, with total market cap rising 1.19% to $311B, the first monthly increase in three months. Stablecoin dominance fell from 13.6% to 11.2% as the broader digital asset market rallied faster.
Tokenization reached another milestone in August, with on-chain RWA market cap rising 4.1% to a record $34.7B. Tokenized stocks and equities climbed 11.3% to $4.45B, but DEX volumes are on track for their first monthly decline in four months, at ~$10.6B.
August reinforced the shift toward on-chain financial markets: stablecoin growth resumed, euro-denominated issuance reached new highs and tokenized assets continued to expand across multiple asset classes.
Read the full Stablecoins & Tokenized Assets Report here: coindesk.com/research/stable…
Crypto-collateralized lending fell $11.3B in Q2 2026 (per @glxyresearch), and while @maplefinance proved resilient with TVL down just 2.5% over the same period, while its token (SYRUP) has dropped 55% YTD - reflecting broader market headwinds
July's Exchange Review is out, supported by @Gate. CEX volumes fell 23.9% to $3.76T, the lowest since Nov 2023. Spot dropped 31.2% to $727B; derivatives share hit 80.6%. 🧵👇
Binance derivatives market share rose for the fifth consecutive month to 45.8%, highest since June 2024. It leads RWA perps at 75.6%, followed by OKX (14.8%) and Gate (4.39%).
📊 Digital Assets Quarterly Review | Q2 2026
ETF flows were the defining story of Q2.
🟡 April: +$2.02B
🟡 May: -$2.41B
🟡 June: -$4.29B (record month)
🟡 Q2 net: -$4.67B — largest since launch
Profit-taking and rotation, not a structural exit.
Full report 👇
June's Exchange Review is out, supported by @Gate. Combined CEX trading volumes rose 13.0% to $4.99T in June; the first monthly increase in five months.
Spot climbed 15.3% to $1.11T (highest since March) even as Bitcoin fell 20.5% to $58.8k 🧵👇