On-Chain Overview

Boosted by NFL, Kalshi hit ~$455M record, with sports ~95% of volume; Nike’s RTFKT news lifted Clone X’s floor ~200% in 24h. DEX volume WoW: Celo +208%, Avalanche +83%, Polygon −33%. Trading volume WoW: Memes +43%, NFTs −20%. Looking to next week, watch $TRUMP 11.95% and ONDO 57% unlocks.

The crypto market cap stands at $3.14T, 7D DEX volume is $72.5B with a DEX to CEX ratio of 16.63%, Solana leads by DEX volume with $34.4B, and Meteora ranks first in DEX revenue at $3.78M.

（Data accurate as of: 12 Jan 2026, 3:00 am, UTC）

Altcoin, Meme coin, NFT and RWA

Altcoin market cap is $887.13M; memecoin market cap is $44.99B with $41.77B in weekly volume; NFTs market cap is $7.48B with $29.2M in weekly volume.

（Data accurate as of: 12 Jan 2026, 3:00 am, UTC）

Macro, Stocks & Commodities

Gold market cap $31.25T, +3.24% WoW and +13.07% 3M; S&P 500 6,966, +1.28% WoW and +3.35% 3M; DXY 98.99, +0.52% WoW and −0.31% 3M; U.S. 10Y 4.169%, −0.52% WoW and +0.8% 3M.

（Data accurate as of: 12 Jan 2026, 3:00 am, UTC）

Key Events of the Week

1. Prediction Market | Polymarket signs exclusive deal with Dow Jones (7 Jan)

2. Prediction Market | Polymarket adds taker fees to 15-min crypto market (7 Jan)

3. RWA | JP Morgan to roll out JPM Coin on Canton (8 Jan)

4. NFT | Clone-X NFTs Soar 200% as Nike Sells RTFKT (8 Jan)

5. Prediction Market | Kalshi hits ATH daily volume on 10th Jan (11 Jan)

6. Social | @X to launch Smart Cashtags, allowing users to post Solana tokens and view charts and news (11 Jan)

Looking Ahead

Meme | Official Trump will unlock 11.95% of its released supply (18 Jan)

RWA | Ondo will unlock 57.23% of its released supply (18 Jan)

Key Takeaways

From a market data perspective: Crypto market cap is $3.14T; 7D DEX volume is $72.5B with a DEX to CEX ratio of 16.63%; Solana leads DEX volume at $34.4B; week over week.

From a market events perspective: JPM Coin rolled out on Canton; Nike’s sale of RTFKT lifted Clone X’s floor by ~200%; Kalshi set a record daily volume; and X will launch Smart Cashtags, allowing users to post Solana tokens and view charts and news.

On-Chain Overview

BTC reclaimed the daily EMA50; Solana led 7-day DEX volume; meme tokens rebounded; BTC ETH and SOL ETF flows were net positive; Meteora posted the highest weekly DEX revenue while Pump.fun led launchpads revenue.

Crypto total market cap rose to $3.17T and 7D DEX volume to $66.75B, led by Solana at $28.15B and Meteora revenue of $4.24M, pointing to a short-term rebound.

（Data accurate as of: 5 Jan 2026, 10:00 am, UTC）

Altcoin, Meme coin, NFT and RWA

Altcoins rose to $885.55B, memes rebounded +20.16% to $46.17B market cap and $29.11B weekly volume, while NFTs stayed weak at $7.33B cap with volume down to $36.8M.

（Data accurate as of: 5 Jan 2026, 10:00 am, UTC）

Macro, Stocks & Commodities

Global macro indicators showed divergent performance, with gold went down to $30.27T, while the DXY strengthened to 98.79 and US 10Y yields rose to 4.179%, alongside a softer JPY/USD at 0.00637 and Brent crude at $61.02.

（Data accurate as of: 5 Jan 2026, 10:00 am, UTC）

Key Events of the Week

1. Launchpad | LetsBonk’s daily graduates, active addresses, and revenue have all trended higher recently (5 Jan)

2. Defi | Aave Labs is committed to sharing revenue generated outside the protocol with token holders (2 Jan)

3. DEX | Jupiter team proposes to stop buyback (3 Jan)

4. DEX | Lighter’s LIT token rises 14% as protocol indicates active buyback (6 Jan)

5. NFT | Punks rally, Smiling Cowboy Punk sells for $529k (4 Jan)

Key Takeaways

From a market data perspective: Crypto market cap reached $3.17T and 7-day DEX volume $66.75B with Solana leading ($28.15B), Meteora topped weekly revenue ($4.24M), memes rebounded while NFTs stayed weak, and ETF flows were net positive.

From a market events perspective: LetsBonk activity climbed, Aave Labs said it will share revenue generated outside the protocol with token holders, Jupiter proposed halting buybacks, and LIT rose 14% on buyback expectations.

On-Chain Overview

Crypto rose on higher volumes and a larger total market cap; prediction markets are consolidating into Polymarket-Polygon and Kalshi-Solana ecosystems; Solana strengthened around the Breakpoint event; next, watch whether BTC reclaims the daily EMA50.

Crypto market cap climbed 5.46% WoW to $3.09T, while 7D DEX volume reached $76.10B (+7.37% WoW) with Solana ($24.23B) and PumpSwap ($2.15M) leading chain volumes and DEX revenues.

（Data accurate as of: 8 Dec, 2025, 3:00 am, UTC）

Altcoin, Meme coin, NFT and RWA

Memes and NFTs showed modest weekly rebounds ( Meme cap +6.66%, NFT cap +5.94%), though all remain deeply negative on a three-month basis, while tokenized RWAs held steady with a 1.10% weekly gain and strong 32.66% three-month outperformance.

（Data accurate as of: 8 Dec, 2025, 3:00 am, UTC）

Macro, Stocks & Commodities

Gold gained 1.24% WoW, equities advanced modestly (S&P 500 +0.70%, Nasdaq 100 +1.51%), the dollar softened and volatility fell (DXY –0.38%, VIX –1.90%), while the 10Y yield rose 2.60% WoW and oil inched up 0.89%.

（Data accurate as of: 8 Dec, 2025, 3:00 am, UTC）

Key Events of the Week

1. Prediction Market | Kalshi’s prediction markets are now tradable on Solana via Jupiter (2 Dec)

2. NFT | Moonbirds introduced birb. in control blind box: 12 Common + 2 Secret Rare Figures (3 Dec)

3. DEX | Aster releases H1 2026 roadmap (4 Dec)

4. NFT | XCOPY dropped a 10M ‘bubbles’ mint on 03 Dec, and bubbles will burst one-by-one until only 1 final Bubble remains in 10 years (4 Dec)

5. DEX | Lighter to introduce spot trading, beginning with ETH (5 Dec)

6. Prediction Market | MetaMask moves into prediction markets with Polymarket integration (6 Dec)

Looking Ahead

1. PERPS | CBOE’s Continuous futures for Bitcoin and Ethereum will go live (15 Dec)

2. SOL Ecosystem | Applications are open for Cohort 4 of the Solana Incubator in NYC until December 19 (19 Dec)

Key Takeaways

From a market data perspective: Crypto Market cap rose 5.46% to $3.09T and DEX volume rose 7.37% to $76.10B led by Solana; memes and NFTs rebounded, RWAs edged up; the dollar and volatility fell while the ten year yield rose; next, watch if BTC reclaim the daily EMA 50.

From a market events perspective: Prediction markets are consolidating around Polymarket and Kalshi; Solana firmed around Breakpoint; ahead, CBOE continuous futures start on 15th December and the Solana Incubator closes on 19th December.

On-Chain Overview

The crypto market remains in a bear-market technical repair phase as US QT ends and the probability of a 25 bp FOMC rate cut remains elevated, while BTC trades in a broad consolidation range. Trading activity softens (DEX volume down 22.23%, Solana DEX down 7.7%), Lighter leads Perp DEX volume, and ETF flows turn positive on the week.

Crypto market cap fell 1.35% 7D as DEX activity declined 22.23% 7D; Solana remained No. 1 by DEX volume despite a 7.7% weekly pullback. PumpSwap stood out with revenue rising +15.76% this week and +59.17% over three months.

（Data accurate as of: 1 Dec, 2025, 7:00 am, UTC）

Altcoin, Meme coin, NFT and RWA

Altcoins, memes, and NFTs continued their three-month market cap declines (Alt –2.35% 7D; Meme –5.92% 7D; NFT –2.82% 7D) amid broad volume contraction, while tokenized RWAs were the only segment to show sustained strength (+1.06% 7D; +19.67% 3M).

（Data accurate as of: 1 Dec, 2025, 7:00 am, UTC）

Macro, Stocks & Commodities

Equities and gold strengthened this week (S&P +3.73%, Nasdaq +5.37%, Gold +2.9%) amid softer yields and a lower VIX, while DXY drifted slightly and oil remained subdued.

（Data accurate as of: 1 Dec, 2025, 7:00 am, UTC）

Key Events of the Week

1. Prediction Market | MYRIAD hits $100M trading volume milestone, growing 10x in three months (24 Nov)

2. NFT | Art Blocks has announced its Final Three projects (25 Nov)

3. Digital Art | Beeple announces Art Basel exhibition (25 Nov)

4. Prediction Market | Robinhood to launch new derivatives exchange for prediction markets push in 2026 (25 Nov)

5. Privacy | Grayscale Files to List First Zcash ETF in the U.S. Amid 1,000% Rally (26 Nov)

6. DEX | Lighter launches equity perps, starting with $COIN and $HOOD, both at 10X leverage (26 Nov)

Key Takeaways

From a market data perspective: Total crypto market cap is down 1.35% WoW; DEX volume is down 22.23%; Lighter leads perp DEX volume. Altcoins market cap fell 2.35%, memes -5.92%, and NFTs -2.82%, while RWAs Market Cap rose +1.06% WoW and +19.67% over 3M.

From a market events perspective: Art Blocks announced its final three projects; Beeple confirmed an Art Basel exhibition; Lighter launched 10x equity perps, starting with $COIN and $HOOD; Robinhood plans a prediction markets; and Grayscale filed to list the first US Zcash ETF.

On-Chain Overview

Waller’s 25 bp cut call (81% possibility) and TGA drawdown fueled a short-lived rebound; crypto market cap –8.05%, DEX –7.76%, Avalanche volume +85%; funding rate negative, OI down, ETF flows divergent, with 91K–92K as key BTC resistance in a weak-bounce bear regime.

Crypto total market cap fell –8.05% (7D) and –22.66% (3M) to $2.97T, while DEX volume declined –7.76% (7D) to $90.06B and Solana remained the top chain by DEX volume ($20.78B, –11.12% 7D, –16.14% 3M), with Aerodrome leading by revenue ($2.89M, –13.73% 7D, –36.62% 3M).

（Data accurate as of: 24 Nov, 2025, 5:00 am, UTC）

Altcoin, Meme coin, NFT and RWA

Altcoin market cap fell –5.56% (7D) and –17.82% (3M) to $862.88M, meme coins dropped –9.19% (7D) but trading volume rose +1.37% (7D), NFTs weakened sharply (–11.06% 7D, –36.64% 3M), while tokenized RWA assets stood out with +5.84% (7D) and +25.49% (3M) growth.

（Data accurate as of: 24 Nov, 2025, 5:00 am, UTC）

Macro, Stocks & Commodities

Gold stayed flat (+0.04% 7D) while gaining +13.31% (3M), equities softened (S&P 500 –1.04%, Nasdaq –1.7% 7D), DXY rose +0.54% (7D), VIX surged +7.57% (7D, +18.37% 3M), and bond yields (10Y –1.31% 7D) and oil (–2.05% 7D) both fell amid a mild risk-off shift.

（Data accurate as of: 24 Nov, 2025, 5:00 am, UTC）

Key Events of the Week

1. L2 | Coinbase updates their X bio to say “December 17”, hinting prediction market and stock trading (18 Nov)

2. Launchpad | Pump’s new ‘Mayhem Mode’ fails to boost token launches or revenue in first week (18 Nov)

3. Wallet | Phantom announces desktop trading terminal (19 Nov)

4. Meme | Coinbase is acquiring @VECTORDOTFUN, an onchain trading platform built on Solana (21 Nov)

5. L1 | Monad mainnet launches with 50.6% of total MON token supply initially locked (24 Nov)

Looking Ahead

L2 | MegaETH mainnet to be live in early December (Early Dec)

Key Takeaways

From a market data perspective: Market momentum weakened, total crypto cap dropped –8.05% (7D) to $2.97T, while RWA assets were the only segment showing +5.84% weekly gains amid lower OI, and diverging ETF flows.

From a market events perspective: Macro catalysts centered on Waller’s 25 bp rate-cut signal (81% possibility) and TGA liquidity release, while Coinbase’s Vector acquisition and Dec 17 trading hint, and Monad’s mainnet launch defined the week’s key project milestones ahead of MegaETH’s early-December debut.

On-Chain Overview

BTC broke below its annual moving average with leverage ratio rebuilding and market fear intensifying, as BTC and ETH ETFs saw $1.11B and $729M outflows, Solana ETF had $46.4M inflows, and on-chain activity diverged with Solana DEX volume –32% and Polygon +35%.

Crypto market cap fell 9.78% (7D) as total DEX volume dropped 21.88% (7D) and Solana DEX activity declined 32.7% (7D), while Aerodrome was the only major DEX showing positive revenue at 9.84% (7D) despite a 41.75% drawdown (3M).

（Data accurate as of: 17 Nov, 2025, 6:00 am, UTC）

Altcoin, Meme coin, NFT and RWA

Altcoins fell 5.39% (7D) with meme caps down 13.35% (7D) and meme volume down 21.05% (7D), NFTs extended weakness with market cap down 6.3% (7D) and volume down 32.6% (7D), while tokenized RWA assets were the only segment showing resilience with +20.77% (3M) despite a 3.88% dip (7D).

（Data accurate as of: 17 Nov, 2025, 6:00 am, UTC）

Macro, Stocks & Commodities

Gold gained 1.93% (7D) and remained the strongest macro asset with an 18.72% rise (3M), while equities held firm as the S&P 500 and Nasdaq 100 rose 0.57% and 0.12% (7D) against a backdrop of rising volatility with VIX up 5.34% (7D) and a steady dollar that is still up 1.25% (3M).

（Data accurate as of: 17 Nov, 2025, 6:00 am, UTC）

Key Events of the Week

1. Defi | Aerodrome and Velodrome merged to form $AERO on Ethereum and Circle’s ARC (13 Nov)

2. NFT | Magic Eden to allocate 30% of secondary marketplace revenue to buybacks (13 Nov)

3. Prediction market | Polymarket and UFC announced multi-year partnership to bring prediction markets into live combat sports (13 Nov)

4. Defi | 1inch unveiled protocol Aqua letting multiple DeFi strategies share the same capital (17 Nov)

Looking Ahead

1. NFT | Holders of the Meebits AI Toy Early Access Pass NFT can claim a physical Meebits x Curio AI Plush as well as digital rewards (22 Nov)

2. L1 | Monad Mainnet is scheduled to go live on 24th Nov at 9am ET (24 Nov)

3. L1 | The Ethereum Fusaka upgrade is scheduled for December 3, 2025 (3 Dec)

Key Takeaways

From a market data perspective: Crypto market cap fell 9.78% (7D) as BTC broke below its annual average, leverage ratio rebuilt, ETF outflows totaled $1.84B, and Solana’s DEX volume plunged 32% while Aerodrome remained the top DEX by revenue (+9.84% 7D).

From a market events perspective: Defi consolidation and innovation led the week with the Aerodrome–Velodrome merger, Magic Eden’s 30% revenue buybacks, Polymarket’s UFC partnership, and 1inch’s Aqua launch enabling shared capital across DeFi strategies.

On-Chain Overview

The market remains in a bottoming phase with early signs of rotation as Coinbase’s Launchpad, and the return of BTC ETF inflows point to improving policy clarity and capital willingness, while strength in DEX, AI, and RWA reflects selective recovery beneath persistent fear.

Crypto market cap fell –0.28% this week and –11.82% over 3 months, while Solana led DEX activity with $34.67B (+8.38% 7D, +59.33% 3M), and Aerodrome’s revenue dropped sharply (–24.63% 7D, –35.04% 3M).

（Data accurate as of: 10 Nov, 2025, 5:00 am, UTC）

Altcoin, Meme coin, NFT and RWA

Meme coins rebounded slightly this week (+2.85% cap, +4.18% volume) but its market cap remains down over 3 months (–31.23%), while NFTs saw the sharpest declines (–6.21% cap, –47.76% volume), and tokenized RWA assets led 3-month growth with +36.23%.

（Data accurate as of: 10 Nov, 2025, 5:00 am, UTC）

Macro, Stocks & Commodities

US Equities fell this week (S&P –2.12%, Nasdaq –3.81%), while US 10Y yield rose +1.01% in 7 days, and gold remained resilient with +17.67% gain over 3 months.

（Data accurate as of: 10 Nov, 2025, 5:00 am, UTC）

Key Events of the Week

1. Launchpad | Monad MON Sale to launch on Coinbase’s new platform, US users can join (10 Nov)

2. Privacy | Aster plans privacy chain with zero gas fees (5 Nov)

3. SocialFi | TimeFun will transit to new product @moolah, focusing on a new social primitive (10 Nov)

Key Takeaways

From a market data perspective: The crypto market cap declined by –0.28% over the past 7 days, while Solana led DEX activity with a +8.38% increase. Aerodrome’s DEX revenue dropped –24.63% week-over-week. Meme coins saw a mild rebound, NFTs continued their downward trend, and RWA assets led 3-month gains with a +36.23% rise in market cap.

From a market events perspective: Coinbase announced it will launch the Monad (MON) token sale on 17 November. TimeFun revealed a transition to a new SocialFi product named Moolah, and Aster disclosed plans to develop a privacy chain with zero gas fee.

On-Chain Overview

The market is entering a structural downtrend as BTC breaks below EMA200, SOL leads altcoin price weakness, and DEX users drop. Despite outflows from BTC and ETH ETFs, Solana ETFs record an ATH $199M weekly inflow with no price response, while attention shifts to Base NFTs and RWA.

Solana’s DEX volume surged +15.3% in 7 days (+31.48% over 3 months), while Aerodrome’s DEX revenue dropped –15.11% this week, contrasting with a relatively flat total DEX volume (–0.92%) and slight market cap decline (–7.95%).

（Data accurate as of: 3 Nov, 2025, 5:00 am, UTC）

Altcoin, Meme coin, NFT and RWA

Meme coin market cap plunged –14.54% while its weekly volume jumped +21.19%, and tokenized RWA assets stood out with a strong +39.68% growth over 3 months.

（Data accurate as of: 3 Nov, 2025, 5:00 am, UTC）

Macro, Stocks & Commodities

VIX surged +7.13% last week indicating rising volatility, while gold held a strong +19.86% 3-month gain despite a –2.26% weekly pullback.

（Data accurate as of: 3 Nov, 2025, 5:00 am, UTC）

Key Events of the Week

Payment | x402 Protocol Powers Micropayments for the Agentic Web (1 Nov)

Launchpad | Pump.fun Spotlight Program goes live to nurture utility tokens (1 Nov)

Socialfi | Farcaster booms with Clanker buy, Warplet hype, and Pro surge (1 Nov)

Prediction Market | Truth Social launches prediction market ‘Truth Predict’ with Crypto.com (29 Oct)

Looking Ahead

BTC | Walmart will begin accepting Bitcoin and cryptocurrencies through OnePay Cash (18 Nov)

Wrapping Up

From a market data perspective: BTC broke below EMA200 and SOL weakened; Solana DEX volume rose +15% (7D), Aerodrome revenue fell –15% (7D), meme cap –14% (7D) with volume +21% (7D), while RWA +40% (3M), and gold +20% (3M).

From a market events perspective: Pump.fun debuted a utility token program, Farcaster boomed with Clanker buy and Warplet hype, Truth Social launched prediction markets, and Solana ETFs saw $199M inflow (7D).

On-Chain Overview

Crypto narratives are aligning around recovery: Robinhood expands tokenized stocks on Arbitrum, prediction markets surge past $2B weekly volume, Base ecosystem gains traction with X402, while macro events drive a rebound in altcoins.

The crypto market grew +6.26% to $3.9T despite a sharp -22.73% drop in DEX volume to $112.99B, with Solana leading in DEX activity ($27.8B, -20.52%) and Aerodrome topping revenue ($3.97M, +12.78%), while the DEX-to-CEX ratio climbed from 18.4% to 19.32%.

（Data accurate as of: 27 Oct, 2025, 3:00 am, UTC）

Altcoin, Meme coin, NFT and RWA

Altcoin market cap rose +2.94% to $1.05T, led by meme coins (+3.15%) despite a –36.4% drop in meme trading volume, while NFTs and tokenized RWA gained in market cap (+3.89% and +1.96%) but faced declining volumes.

（Data accurate as of: 27 Oct, 2025, 3:00 am, UTC）

Macro, Stocks & Commodities

Gold fell –2.85% amid rising oil prices (+7.04%) and stronger equities (S&P 500 +1.92%, Nasdaq +2.18%), while bond yields inched up and VIX (–12.07%) and JPY (–1.51%) declined slightly in a stable dollar environment.

（Data accurate as of: 27 Oct, 2025, 3:00 am, UTC）

Key Events of the Week

RWA | Robinhood Expands Tokenized Stocks on Arbitrum (25 Oct)

Robinhood expands to 493 tokenized assets on Arbitrum, reinforcing tokenized stocks as 2025’s top RWA trend alongside Ondo, Dinari, Galaxy, and Centrifuge.

Prediction Market | Prediction market volume flips 2024 election high (21 Oct)

Polymarket led the way with its first $1B week of 2025, and Kalshi had $950M right on its heels.

Prediction Market | Limitless launched token with founder criticised for token sales (23 Oct)

Limitless launched its token with no CEX listing, initiated buybacks to support network health, while the founder faced criticism over token sales.

CEX | Coinbase acquires Echo (21 Oct)

Founded by Cobie, Echo is a community-driven fundraising platform that makes investing more accessible and transparent through private Echo sales or public Sonar sales, aiming to empower users with inclusive and efficient tools.

DAT | Hyperliquid Strategies seeks $1 billion raise to expand HYPE treasury (22 Oct)

The company is a pending merger entity formed by Sonnet BioTherapeutics and Rorschach I, aiming to launch within this year.

Wrapping Up

From a market data perspective: Crypto market cap rose +6.26% to $3.9T despite a –22.73% drop in DEX volume, with meme coins, NFTs, and RWA assets all showing market cap growth amid improving macro sentiment.

From a market events perspective: Robinhood’s tokenized stocks expansion, $2B+ prediction market weekly volume, Coinbase’s Echo acquisition, and Hyperliquid Strategy’s $1B fundraising plan highlight renewed momentum across RWA, prediction, and DAT narratives.

On-Chain Overview

While market volumes and prices faced short-term pullbacks, emerging narratives around meme coins, NFT-linked ecosystems, and AI trading innovations are gaining momentum, suggesting fresh areas of opportunity amid a dynamic macro landscape.

Crypto market contracted this week, with total market cap down 5.66% to $3.67T, DEX volume plunging 17.95% to $146.24B, and Ethereum remaining the top DEX chain despite a 5.86% drop, while Aerodrome’s revenue slumped 29.6% to $3.52M.

（Data accurate as of: 20 Oct, 2025, 5:00 am, UTC）

Altcoin, Meme coin, NFT and RWA

Altcoin market cap fell 4.67% to $1.02T, with meme coins down 5.81% and their weekly volume plunging nearly 25%, while NFT volume halved and tokenized RWA was the only gainer, rising 1.27%.

（Data accurate as of: 20 Oct, 2025, 3:00 am, UTC）

Macro, Stocks & Commodities

Gold surged +6.3% amid rising volatility (VIX +4.49%) and falling oil (–3.99%), while equities (S&P 500 –1.13%, Nasdaq –1.19%) and the 10Y bond yield (–2.8%) declined alongside a slightly weaker dollar (DXY –0.57%).

（Data accurate as of: 20 Oct, 2025, 3:00 am, UTC）

Key Events of the Week

Prediction Market | Polymarket launches up/down equity markets letting users bet on stock prices (15 Oct)

Polymarket has added up/down equity and index markets, letting users bet if a stock or benchmark finishes higher or lower by a set time.

NFT | OpenSea sets SEA token launch for Q1 2026, with 50% of revenue earmarked for buybacks (18 Oct)

NFT & RWA | Magic Eden teases upcoming NFT and RWA pack drops (14 Oct)

Magic Eden is launching pack drops, hinting at NFT and RWA packs coming soon to expand collectible formats on its platform.

NFT | Coinbase buys Cobie’s Up Only NFT for $25 million, unlocking potential for new episodes (20 Oct)

The NFT’s fine print states that if bought, Cobie and his cohort Ledger have to produce eight episodes of the once-popular podcast.

ETF | SEC Approves 21Shares Solana Spot ETF (18 Oct)

The 21Shares Solana ETF ($SOL) is now officially registered on the Cboe BZX Exchange, indicating the product could begin trading soon.

Sentiment Market | Myriad launches onchain perpetual sentiment markets to price collective belief (14 Oct)

Myriad introduces perpetual sentiment markets where users stake capital to express belief on topics like fear vs greed or Trump approval, transforming opinion into tradable, trackable onchain data.

Wrapping Up

From a market data perspective: Crypto market contracted with total market cap falling to 3.67 trillion dollars, DEX volume declining nearly 18 percent, meme and NFT segments weakening sharply, while tokenized RWA was the only sector to record gains.

From a market events perspective: Despite short-term pullbacks, new narratives gained traction—Polymarket launched equity prediction markets, the SEC approved a Solana ETF, and major platforms like OpenSea, Magic Eden, and Coinbase pushed NFT and RWA innovations, signaling fresh growth drivers.

On-Chain Overview

The DEX ecosystem is rebounding, highlighted by interest in innovative models such as Hyperliquid HIP-3. Meanwhile, crypto market faces heightened liquidation pressure, and prediction markets are seeing notable growth in platform activity, particularly in the sports segment.

Crypto market fell 8.04% to $3.89T despite a 46.62% surge in DEX volume ($177.24B), with Ethereum leading DEX activity ($40.28B, +54.92%) and PancakeSwap topping DEX revenue ($6.8M, +138.6%), while the DEX-to-CEX ratio drops slightly to 18.5%.

（Data accurate as of: 13 Oct, 2025, 6:00 am, UTC）

Altcoin, Meme coin, NFT and RWA

Altcoin market cap fell 6.96% to $1.07T, driven by a sharp -16.65% drop in meme coins ($60.91B), even as meme trading volume jumped 50% to $87.16B; NFTs and RWAs showed mixed performance, with NFT cap down -12.22% and RWA market cap up +1.63%.

（Data accurate as of: 13 Oct, 2025, 6:00 am, UTC）

Macro, Stocks & Commodities

Gold rose +2.28% amid rising volatility (VIX +6.53%) and a slight DXY uptick (+0.33%), while equities (S&P 500 –2.44%, Nasdaq –2.27%) and oil (–3.76%) declined; 10Y yields dropped –2.15% and JPY/USD stayed nearly flat (–0.06%).

（Data accurate as of: 13 Oct, 2025, 6:00 am, UTC）

Key Events of the Week

RWA | Plume Network gains SEC transfer agent status to bring TradFi onchain (07 Oct)

Plume’s SEC registration lets it manage tokenized securities under US law, a step toward merging traditional markets with blockchain infrastructure.

Launchpad | Binance announce native meme launchpad Meme Rush (09 Oct)

Meme Rush is in partnership with @four_meme, and traders can earn 4x Alpha Trading Volume while they trade.

NFT | Sorare moves to SOL (09 Oct)

Sorare is migrating from StarkEx to Solana this October, marking a major step toward becoming an open, flexible, and high-performance digital sports collectibles platform.

Wallet | @MetaMask adds in-wallet perps, powered by @HyperliquidX (12 Oct)

@MetaMask’s in-wallet perps now provides 150+ tokens, up to 40× leverage, with self-custody.

DEX | Hyperliquid HIP-3 upgrade to allow permissionless perp market creation (13 Oct)

Hyperliquid rolled out its HIP-3 upgrade, enabling anyone staking 500,000 HYPE tokens to deploy their own perpetual swap markets permissionlessly.

Looking Ahead

NFT | Meebits Brunch event in Las Vegas for Meebits holders (24 Oct)

Wrapping Up

From a market data perspective: The crypto market declined overall, but DEX volume rebounded strongly, led by Ethereum and PancakeSwap; while altcoins and NFTs pulled back and RWAs showed modest resilience.

From a market events perspective: Plume gained SEC approval for tokenized securities, Meme Rush launched, Sorare migrated to Solana, MetaMask integrated Hyperliquid-powered perps, and HIP-3 enabled permissionless perp market creation.

On-Chain Overview

Aster is delisted from DefiLlama due to suspicious volume patterns, NFT strategies have drawn market attention with several copycat projects emerging, and ETF inflows continue to support risk appetite. Meanwhile, perp DEX volumes show notable divergence—Aster still leads with volumes far exceeding Hyperliquid, and Apex is growing the fastest.

Crypto market surged +9.87% to $4.23T despite a -13.77% drop in DEX volume to $120.88B, as Solana ($26.08B) surpassed Ethereum to become the top DEX chain, while Aerodrome ($3.65M, -14.92%) led in revenue and the DEX-to-CEX ratio held at 18.87%.

（Data accurate as of: 6 Oct, 2025, 6:00 am, UTC）

Altcoin, Meme coin, NFT and RWA

Altcoin market cap rose +6.48% to $1.15T, driven by meme tokens (+7.82% to $73.08B, $58.11B weekly volume), while NFT market cap climbed +7.64% to $12.68B with volume soaring +45.57%, and tokenized RWA assets grew +9.28% to $33.22B.

（Data accurate as of: 6 Oct, 2025, 6:00 am, UTC）

Macro, Stocks & Commodities

Gold (+3.07%) and U.S. equities (S&P 500 +1.52%, Nasdaq 100 +1.53%) edged higher alongside a modest rise in DXY (+0.35%) and VIX (+3.14%), while oil slid –3.68% and 10Y yields held steady at 4.148%.

（Data accurate as of: 6 Oct, 2025, 6:00 am, UTC）

Key Events of the Week

Meme | $birb will come soon on @solana (2 Oct)

Art | Art Blocks Curated ends with ‘Quine’ by Larva Labs, minting Oct 9 (3 Oct)

Art Blocks announces its final Curated release ‘Quine’ by Larva Labs—500 total supply (477 available) starting at 0.25 ETH, minting October 9 with the theme “Code Generates Art <> Art Generates Code.”

DEX | DefiLlama to delist Aster volumes on integrity concerns (5 Oct)

Aster’s XRP perpetual volumes now closely track Binance’s with a near 1 to 1 ratio while Hyperliquid shows decorrelation prompting delisting due to lack of lower level data to verify wash trading.

Looking Ahead

AI Agent | The AI16Z token has a built-in expiration date on October 25, 2025 (25 Oct)

All principal investments and profits will be distributed to token holders that day.

DEX | ASTER will have a token unlock event releasing 183M tokens on October 17 (17 Oct)

Defi | Meteora’s MET TGE will take place on Oct 23 (23 Oct)

Wrapping Up

From a market data perspective: Crypto market surged nearly 10% to $4.23T, with Solana overtaking Ethereum in DEX activity and NFT, meme, and RWA sectors showing strong gains.

From a market events perspective: Aster was delisted from DefiLlama due to suspiciously mirrored volumes with Binance, while NFT strategy projects gained traction and ETF inflows continued to support broader market risk appetite.

On-Chain Overview

Crypto market dipped (-2.78%) to $3.85T even as DEX volume surged +18.09% to $140.18B, led by Ethereum (+47.79%), while Hyperliquid’s revenue plunged nearly 60%, and DEX-to-CEX ratio held steady at 18.52%.

（Data accurate as of: Sep 29, 2025, 6:00 am, UTC）

Altcoin, Meme coin, NFT and RWA

Altcoins, memes, and NFTs saw broad declines (–2.7% to –14.92%), while NFT volume rebounded (+13.82%) and tokenized RWA market cap held steady with a slight gain (+0.26%).

（Data accurate as of: Sep 29, 2025, 6:00 am, UTC）

Macro, Stocks & Commodities

Gold (+2.91%) and oil (+2.79%) rose, while equities were flat (S&P 500 –0.05%, Nasdaq –0.1%), DXY strengthened (+0.69%), VIX declined (–0.89%), and the 10Y yield edged higher (+0.27%) amid JPY weakness (–0.72%).

（Data accurate as of: Sep 29, 2025, 6:00 am, UTC）

Key Events of the Week

NFT | 7 new collections will be included in NFT Strategies soon (25 Sep)

ToadzStrategy and SquiggleStrategy have already been announced, with potential upcoming strategies for NFTs like XCOPY, Goblins, Milady, Checks, and Good Vibes Club.

Meme | TROLL to be listed on Coinbase (24 Sep)

$TROLL, dubbed the most iconic meme in history, is set to list on Coinbase and Binance US amid a bullish Q4, positioning itself as a top contender for a $1B+ market cap run.

NFT | TIBBIR hits another ATH of $260m (29 Sep)

DEX | Aster DEX overtakes Hyperliquid in 7-day volume on BNB Chain, wash trading suspected (28 Sep)

On BNB Chain, Aster DEX has surged to $48B in daily volume and $1.44B TVL, surpassing Hyperliquid in 7-day volume averages ($20.93B vs. $10.41B), though analysts suspect possible wash trading.

Stablecoins | Morpho powers USDC lending on Coinbase with surge in yield vault activity (28 Sep)

Since Sept 18, Morpho has enabled USDC lending on Coinbase via Steakhouse vaults, with supply rising from ~$4.4M to ~$35M and originations from ~$6M to ~$38M.

NFT | Early Hyperliquid user sells airdropped Hypurr NFT for $467K (28 Sep)

Early Hyperliquid users have been rewarded with a massive Hypurr NFT airdrop, with the free digital cats now worth over $64,000.

Wrapping Up

From a market data perspective: Crypto market cap fell 2.78% to $3.85T even as DEX volume surged 18.09% to $140.18B, driven by Ethereum’s +47.79% rise, while Hyperliquid revenue plunged nearly 60%.

From a market events perspective: NFTs, memes, and DEXs made headlines with $TROLL’s Coinbase listing, TIBBIR’s $260M ATH, a $467K Hypurr NFT sale, Aster DEX surpassing Hyperliquid on BNB Chain, and Morpho’s USDC lending vaults spiking 8x.

On-Chain Overview

Pump.fun hits 7-month volume high ($257M), Base explores native token amid $5.9M sequencer profits, BTC/ETH/SOL ETFs reach all-time high market caps, and Perp DEX competition heats up as challengers narrow the gap with Hyperliquid; meanwhile, the Dogecoin ecosystem expands with CleanCore’s $DOGE token treasury and DOGE ETF debut.

Crypto market cap slipped to $3.96T (-2.22%) while DEX activity rose to $118.7B (+7.59%), with Solana leading by volume ($30.53B, -3.09%) and Hyperliquid topping revenue ($18.06M, -10.33%), keeping the DEX-to-CEX ratio at 18.24%.

（Data accurate as of: Sep 22, 2025, 3:00 am, UTC）

Altcoin, Meme coin, NFT and RWA

Altcoins fell to $1.11T (-1.23%) as memes slumped ($71.86B cap, -7.53%; $65.2B volume, -12.6%), NFTs weakened in market cap ($12.03B, -3.99%) despite surging volume (+54.6% to $99.1M), while tokenized RWAs edged higher to $30.32B (+0.6%).

（Data accurate as of: Sep 22, 2025, 3:00 am, UTC）

Macro, Stocks & Commodities

Gold rose slightly (+0.33% to $25.47T) alongside equities (S&P 500 +1.22%, Nasdaq 100 +2.22%), while DXY (+0.24%), VIX (+1.24%), and 10Y yields (+1.72%) edged higher, JPY weakened (-0.74%), and Brent crude dipped (-0.64%).

（Data accurate as of: Sep 22, 2025, 3:00 am, UTC）

Key Events of the Week

Launchpad | Pump.fun hits the highest volume in 7+ months and it pays out a new record of $4M in creator fees (17 Sep)

DAT | CleanCore expands Dogecoin treasury beyond 600M DOGE (16 Sep)

CleanCore Solutions added 100M DOGE to its Official Dogecoin Treasury, surpassing 600M DOGE holdings and pushing toward its near-term goal of 1B DOGE within 30 days.

NFT | Token Works & PNKSTR Expand STR Perpetual Machine (18 Sep)

Token Works and PNKSTR are launching PUDGYSTR, APESTR, DICKSTR, BIRBSTR, and MEEBSTR across major NFT collections.

NFT | GONDI Launches Purchase Bundler (18 Sep)

New feature lets users buy NFTs from OpenSea, Punks Marketplace, and GONDI with partial liquidity, bundle loans seamlessly.

Prediction Market | Kalshi surges past Polymarket in global prediction market volume (18 Sep)

CFTC-registered Kalshi now holds 62.2% market share with $1.3B in September trading volume, outpacing Polymarket’s $773M and marking its first $1B+ month since last November’s U.S. elections.

Stablecoin | USDC launches natively on Hyperliquid (21 Sep)

USDC debuts on HyperEVM (~$12M, 3.5%) ahead of HyperCore, joining USDT0 ($193M, 55%) and thBILL ($16M, 17.5%), while USDH also launches—heating stablecoin rivalry on Hyperliquid.

L2 | Base weighs launch of a network token (21 Sep)

Base shifts from “no token” to exploring a network token for decentralization and builder alignment; August sequencer profit hit $5.9M, fueling pre-airdrop DeFi positioning.

Looking Ahead

L2 | Merlin Chain will introduce a BTC staking function with a maximum annualized return of 21% (1 Oct)

Wrapping Up

From a market data perspective: Crypto market cap declined to $3.96T (-2.22%) despite a 7.59% rise in DEX volume to $118.7B; Solana led DEX activity ($30.53B, -3.09%) while Hyperliquid topped DEX revenue ($18.06M, -10.33%).

From a market events perspective: Pump.fun reached a 7-month high in volume, DOGE treasury expanded with CleanCore’s 1B DOGE target, USDC launched natively on Hyperliquid, Base explored a network token, and Kalshi overtook Polymarket in prediction market volume.

On-Chain Overview

Solana ecosystem led a market-wide rally last week, with Forward Industries executing the largest ever SOL DAT buy. BTC/ETH ETFs hit record all-time-high total volume. Meanwhile, sectors like Base and Doge ETF gained increasing attention.

Crypto market capitalization rose 5.47% to $4.05T alongside a 13.45% increase in DEX volume, with Solana leading chains ($30.49B, +23.04%) and Hyperliquid topping DEX revenue ($20.14M, +24.09%).

（Data accurate as of: Sep 15, 2025, 7:00 am, UTC）

Altcoin, Meme coin, NFT and RWA

Altcoin sector gained momentum (+5.71%), driven by a 65.15% surge in meme trading volume, while NFTs stagnated and tokenized RWAs saw an increase of 5.98%.

（Data accurate as of: Sep 15, 2025, 7:00 am, UTC）

Macro, Stocks & Commodities

Gold, equities, and oil edged higher amid a softening dollar, falling bond yields, and declining volatility, signaling a broadly risk-on macro environment.

（Data accurate as of: Sep 15, 2025, 7:00 am, UTC）

Key Events of the Week

NFT | OpenSea unveils first NFT reserve (8 Sep)

As part of the SEA token launch, OpenSea will start sweeping millions in tokens and NFTs into a massive prize vault, beginning with the purchase of CryptoPunk #5273, using 50% of all platform fees starting Sept. 15.

Launchpad | Pump.fun partners with MEXC for weekly ecosystem listings (8 Sep)

MEXC kicks off MEXC Mondays in partnership with Pump.fun by listing a new ecosystem coin every Monday, starting with Week 1’s debut of Trencher Broadcasting Company.

Stablecoin | Ethena ecosystem surges with listings, buybacks, and new stablecoin launches (14 Sep)

Ethena’s USDe is now listed on Binance with supply surpassing $13B, enabling a potential $500M ENA buyback; StablecoinX raised $530M to purchase over 3B ENA, MegaMatrix filed a $2B shelf, and MegaETH Labs launched USDm atop Ethena’s infrastructure.

Defi | Aave TVL on Linea soars 73x amid incentive-fueled growth (14 Sep)

Aave’s TVL on Linea skyrocketed from $26M to $1.91B between early August and Sept 11, fueled by Linea Ignition incentives targeting WETH, USDC, and USDT pools with ZK-verified rewards, boosting Aave’s total market size to nearly $70B.

L2 | Base explores issuing native token, says creator Jesse Pollak (15 Sep)

At the BaseCamp event, Jesse Pollak revealed the layer-2 network is considering a native token, though plans remain in early stages.

Prediction Market | Polymarket token could be coming soon (16 Sep)

Polymarket has filed a form with the SEC indicating that “other warrants” were offered in its latest raise — a term typically used to imply tokens — potentially signaling the launch of a Polymarket token, according to the filing.

Stablecoin | Native Markets officially claims Hyperliquid’s USDH stablecoin ticker (15 Sep)

Native Markets, one of the teams that submitted a proposal to issue and manage the Hyperliquid crypto exchange’s US dollar stablecoin (USDH), officially claimed the USDH ticker on Sunday, following a community vote.

Looking Ahead

L1 | Ethereum's Fusaka upgrade is scheduled from September 22 to early November (29 Sep)

Ethereum devs agree on Fusaka upgrade timeline for early November mainnet launch, with public testnet upgrades starting late September.

Wrapping Up

From a market data perspective: Crypto market capitalization rose 5.47% to $4.05T, DEX volume increased 13.45%, with Solana leading at $30.49B (+23.04%) and Hyperliquid topping DEX revenue at $20.14M (+24.09%).

From a market events perspective: Solana ecosystem rallied on Forward Industries’ record SOL DAT buy, while BTC/ETH ETFs hit all-time-high Market Cap; Base, Doge ETF, and NFT initiatives like OpenSea Reserve gained traction.

On-Chain Overview

Crypto market sees selective rotations amid ETH ETF outflows and DAT slowdown, with USDH governance underway, SOL outperforming, NFT markets weakening, and new AI, Prediction, and RWA narratives continuing to gain traction.

Crypto market cap rose to $3.84T (+2.13%), but DEX activity cooled sharply (-17.86%), with Solana DEX volume down nearly 20% and Hyperliquid revenue dropping over 30%.

（Data accurate as of: Sep 8, 2025, 6:00 am, UTC）

Altcoin, Meme coin, NFT and RWA

Altcoins and memes gained momentum with market caps up +3.96% and +8.35%, while NFTs slumped as volume dropped -36.42%; tokenized RWAs edged higher +1.86%.

（Data accurate as of: Sep 8, 2025, 6:00 am, UTC）

Macro, Stocks & Commodities

Gold surged +4.82% as bond yields fell and the dollar weakened, while equities were mixed (S&P 500 -0.12%, Nasdaq +0.19%) and oil declined -0.85%.

（Data accurate as of: Sep 8, 2025, 6:00 am, UTC）

Key Events of the Week

RWA | @OndoFinance launched Global Markets (7 Sep)

Ondo Finance rolled out Global Markets, bringing 100+ U.S. stocks and ETFs onchain via direct broker-dealer tokenization (no wrappers/SPVs), with ~$48.5M TVL (56% ETFs / 44% stocks).

RWA | Pokémon RWAs surge on Solana but trail Courtyard on Polygon (7 Sep)

Pokémon RWA platforms on Solana have reached ~$165M total volume (led by Collector Crypt at $153.1M), while Courtyard on Polygon dominates with $419.5M volume and 269,869 users.

Prediction Market | Polymarket can go live in the US following CFTC ruling (3 Sep)

“Polymarket has been given the green light to go live in the USA by the @CFTC,” CEO Shane Coplan said Wednesday on X.

Launchpad | Pump.fun unveils Project Ascend to boost creator rewards (30 Aug)

Pump.fun introduced Project Ascend with Dynamic Fees V1, boosting creator earnings 10x and cutting CTO application processing 10x faster, aiming to make its ecosystem more sustainable and community-aligned.

DAT and ETF | CleanCore $175M Dogecoin Treasury, House of Doge’s $200M Treasury, and First U.S. DOGE ETF ($DOJE) Launch This Week (8 Sep)

Dogecoin is rapidly institutionalizing: CleanCore Solutions announced a $175M private placement to establish an official DOGE treasury, Elon Musk’s lawyer Alex Spiro is set to chair a separate $200M Dogecoin treasury company backed by House of Doge, and REX–Osprey are preparing to launch the first U.S. Dogecoin ETF ($DOJE) this week, marking a milestone in memecoin financialization.

DAT | BitMine Now Holds $9B in Crypto Treasury, Fuels 1,000% Surge in WLD-Linked Stock (8 Sep)

BMNR also announced a $20 million investment in Eightco Holdings (OCTO), which plans to hold worldcoin (WLD) as its primary treasury asset.

Looking Ahead

L1 | Monad will list its token on 29 Sep (29 Sep)

The announcement that the Monad token, MON, will be listed on exchanges on September 29, as reported by CoinMarketCap, marks a significant milestone for the project.

Wrapping Up

From a market data perspective: Crypto market cap rose +2.13% to $3.84T, but DEX volumes dropped sharply (-17.86%) and NFTs slumped, while memes, and RWAs saw moderate gains.

From a market events perspective: Key events include Ondo launching tokenized U.S. assets, DOGE institutionalization via treasuries and ETF, Polymarket’s U.S. approval, Pump.fun’s reward upgrade, and escalating Pokémon RWA competition.

On-Chain Overview

With ETF flows turning positive and macro signals supporting a softer stance, Solana leads in DEX activity, Aave’s Horizon marks progress in RWA adoption, and new narratives across DAT, AI, and Prediction Markets offer fresh opportunities for selective positioning and proactive research.

Crypto market weakened last week as total market cap fell 3.84% and DEX volume dropped 10.4%, though Solana DEX activity rose 1.84%, maintaining its lead amid declining Hyperliquid revenue.

（Data accurate as of: Sep 1, 2025, 6:00 am, UTC）

Altcoin, Meme coin, NFT and RWA

Memes and NFTs all declined this week—meme volume plunged 25.1% and NFT market cap fell 5.54%—while tokenized RWA assets bucked the trend with a 6.16% gain.

（Data accurate as of: Sep 1, 2025, 6:00 am, UTC）

Macro, Stocks & Commodities

Gold and Nasdaq rose this week while the S&P 500 remained flat; bond yields and DXY dipped, VIX climbed, and oil prices slightly declined, reflecting cautious macro sentiment.

（Data accurate as of: Sep 1, 2025, 6:00 am, UTC）

Key Events of the Week

RWA | Aave Launches Horizon RWA Market with Over $50M in TVL (31 Aug)

Aave launches Horizon, a new RWA-backed lending market on Ethereum with over $50 million supplied and $7 million borrowed, showcasing the growing role of real-world assets as productive DeFi collateral.

NFT | Moonbirds ecosystem surges as Footballdotfun expands rewards (26 Aug)

Following last Wednesday’s announcement that @footballdotfun would extend rewards to @mythicbirbs and @oddities_xyz, all three core Moonbirds ecosystem projects have seen a notable price surge.

NFT | OpenSea launches MCP to power real-time onchain access for AI agents (28 Aug)

OpenSea introduces MCP, an open standard that lets AI agents instantly access NFT, token, and wallet data across 20+ chains—enabling plug-and-play trading, research, and portfolio tools with zero infrastructure overhead.

Crypto Macro | U.S. Government begins publishing economic data onchain via Chainlink and Pyth (29 Aug)

The U.S. government has begun publishing official economic data like GDP and PCE onchain using Chainlink and Pyth oracles, boosting transparency, enabling smart contract automation, and signaling deepening integration of blockchain infrastructure into public institutions.

DAT | Trump Media, Crypto.com to Build $6.4B CRO Treasury Firm, CRO Jumps 25% (26 Aug)

Trump Media will buy CRO worth $105 million while Crypto.com takes $50 million in DJT stock as part of a partnership that makes the Cronos token central to Truth Social’s rewards system.

Wrapping Up

From a market data perspective: Crypto market cap dropped 3.84% and DEX volume declined 10.4% last week, but Solana DEX volume rose 1.84%, surpassing Ethereum to become the top chain by DEX activity.

From a market events perspective: Aave’s Horizon RWA platform launch, and U.S. onchain macro data releases underscore the growing relevance of RWA, blockchain-integrated public infrastructure, and selective platform momentum.

On-Chain Overview

Recent institutional announcements around Solana treasury plans and the PENGU project signal a selective risk-on stance, whereas current capital rotation remains centered on ETH, while Meme coins continue to lose momentum.

DEX volume rose 4.55% to $128.81B while Ethereum DEX volume dropped 12.89%, with Hyperliquid leading in DEX revenue and the overall crypto market cap edging up 0.26% to $3.91T.

（Data accurate as of: Aug 25, 2025, 6:00 am, UTC）

Altcoin, Meme coin, NFT and RWA

Meme coin market cap edged up 1.42% despite a 9.99% drop in volume, while NFTs saw a stronger 4.95% cap increase but a sharper 22.64% decline in trading activity.

（Data accurate as of: Aug 25, 2025, 6:00 am, UTC）

Macro, Stocks & Commodities

Equities and gold dipped slightly, with Nasdaq down 1.31%, while macro indicators pointed risk-on—VIX fell 4.42%, yields dropped, and oil surged 2.49%.

（Data accurate as of: Aug 25, 2025, 6:00 am, UTC）

Key Events of the Week

DAT | Galaxy Digital, Multicoin, Jump Crypto plan $1B Solana treasury (25 Aug)

Crypto giants Galaxy, Multicoin and Jump are seeking to raise $1 billion for a Solana treasury, with Cantor Fitzgerald as their lead banker.

Launchpad | HeavenDEX gains traction on Solana with AMM + Launchpad Model (24 Aug)

HeavenDEX has rapidly gained traction on Solana by combining an AMM and launchpad with innovations like no bonding curve, anti-scam fees, and its “god flywheel” mechanism—driving $308M in volume, 35K token launches, 108K onboarded wallets, and $3.6M in $LIGHT buybacks.

NFT | Meebits launches MeebCo Upcycling Program Beta (18 Aug)

Meebits has kicked off its MeebCo Upcycling Program Beta—offering daily Meebit swaps via Meebits.app until Sept 7, prioritizing multi-Meebit-for-one trades to reduce floor supply and test its new trade interface, with community feedback shaping future improvements.

Prediction Market | Robinhood partners with Kalshi to launch NFL and college football prediction markets (20 Aug)

The new offering follows the success of Polymarket-style event trading, but with CFTC-regulated contracts in the U.S.

DAT | $PENGU treasury strategy possibly backed by over 15 organizations (25 Aug)

Over 15 organizations have approached @LucaNetz to shape $PENGU’s treasury strategy, with all committing a potential $25M–$100M.

NFT | Bitwise Blue-Chip NFT Index Fund took in a meaningful new subscriptionn recently (24 Aug)

Looking Ahead

WLFI | Trump’s World Liberty Financial Sets Sept. 1 Launch for WLFI Token Unlock (1 Sep)

WLFI will launch trading on Ethereum mainnet on Sept. 1 at 8:00 a.m. ET, with 20% of early investor tokens unlocked at TGE.

L1 | Plasma is launching a stablecoin Layer 1 mainnet beta (Sep)

Wrapping Up

From a market data perspective:

DEX volume rose 4.55% to $128.81B, while Ethereum DEX volume fell 12.89%, and meme/NFT market caps gained slightly despite declining volumes.

From a market events perspective:

Institutional treasury plans around Solana and $PENGU signal selective risk-on interest, but capital rotation remains centered on ETH.

On-Chain Overview

Crypto market shows signs of risk-on shift as ETH ETF inflows surge, Base ecosystem grows, institutional trades reshape volume dynamics, and narrative-driven projects like GameSquare Digital Asset Treasury and Moonbirds gain traction.

Despite a 3.9% dip in crypto market cap, DEX activity surged with a 28.34% volume increase, led by Ethereum and Hyperliquid’s strong growth.

（Data accurate as of: Aug 18, 2025, 6:00 am, UTC）

Altcoin, Meme coin, NFT and RWA

Altcoin market cap dipped 1.33% to $1.03T, in which meme coins seeing steeper declines — market cap down 10.59% and volume down 21.13%; meanwhile, NFT trading volume jumped 21.68% to $149.3M.

（Data accurate as of: Aug 18, 2025, 6:00 am, UTC）

Macro, Stocks & Commodities

Equities gained modestly (S&P 500 +0.95%, Nasdaq 100 +0.43%) amid a slight drop in volatility (VIX -0.86%) and DXY (-0.2%), while gold fell 1.72% and the 10Y U.S. bond yield rose to 4.297%.

（Data accurate as of: Aug 18, 2025, 6:00 am, UTC）

Key Events of the Week

NFT | GameSquare partners with Azuki and Anime Foundation in $2.5M deal (13 Aug)

GameSquare will invest $2.5M to support Azuki and Anime Foundation, adding Animecoin to its holdings. This is part of its broader goal to build a $250M ETH-based digital treasury.

DEX | Aerodrome expands as Base’s liquidity hub with Coinbase integration and RWA launch (17 Aug)

AerodromeFi strengthens its $1.43B TVL dominance on Base by integrating directly with Coinbase for seamless user access and debuting as the first trading venue for Centrifuge’s $deJAAA—Base’s first freely transferable real-world asset.(track)

NFT | Moonbirds +20% after Kaito partnership (12 Aug)

Moonbirds X @KaitoAI leaderboard goes live on 18th August.

Stablecoin | Ethena’s USDe supply doubles to $11.2B in 30 days, becomes key DeFi pillar (17 Aug)

​​Ethena’s USDe has surged to $11.2B in 30 days—$6.4B parked on Aave via Pendle looping—cementing its status as a systemically critical stablecoin issuer.

Stablecoin | Sky secures first S&P stablecoin credit rating with B- and stable outlook (17 Aug)

SkyEcosystem earns a historic B- credit rating from S&P, which cites decentralization as a key risk mitigator, with $8.59B in assets, a $90.5M surplus, and full transparency via SteakhouseFi.

Looking Ahead

BTC | Brazil’s lower house to hold hearing on creating national Bitcoin reserve (20 Aug)

Game | Pudgy Party mobile game launches August 29 — pre-downloads now live (29 Aug)

Wrapping Up

From a market data perspective: Crypto market cap dipped 3.9%, yet Ethereum-led DEX volume surged 28.34%; meme coins saw sharp market cap losses while NFT and Hyperliquid volumes rose.

From a market events perspective: ETH ETF inflows, GameSquare’s Azuki investment, Aerodrome’s RWA expansion, Moonbirds’ Kaito leaderboard launch, and Ethena and Sky’s stablecoin milestones highlight accelerating crypto adoption and DeFi infrastructure growth.

On-Chain Overview

Amid a clear shift toward risk-on sentiment driven by falling volatility and supportive macro signals, the crypto market saw ETH ETF inflows hit record highs, some memecoins outperform BTC, while the overall NFT market cap continued to rise —highlighting growing institutional interest and selective retail enthusiasm.

Crypto market cap rose 9.43% to $4.06T, while DEX volume stayed flat at $96.07B, Ethereum led DEX volume (+5.96%), and Hyperliquid revenue fell 10.93%.

（Data accurate as of: Aug 11, 2025, 3:00 am, UTC）

Altcoin, Meme coin, NFT and RWA

Altcoin and NFT market caps rose 9.26% and 13.61% respectively. Meme market cap surged 16.4% despite sharp volume drops (-21.13%), while tokenized RWA market cap gained 3.83%.

（Data accurate as of: Aug 11, 2025, 3:00 am, UTC）

Macro, Stocks & Commodities

Equities rose (S&P 500 +1.62%, Nasdaq +2.92%) alongside gold (+1.41%), while DXY (-0.69%) and VIX (-9.18%) fell, US 10Y yield edged up (+0.94%), and Brent crude dropped 5.18%.

（Data accurate as of: Aug 11, 2025, 3:00 am, UTC）

Key Events of the Week

Launchpad | Pump.fun launches real-time revenue dashboard and introduces Glass Full Foundation(5 Aug)

Pump.fun unveils a real-time tracker showing ~8,740 SOL in $PUMP buys over 6 days (102% of revenue) and launches the Glass Full Foundation to inject major liquidity into ecosystem tokens, fueling Solana’s growth.

Wallet | Phantom acquires Solsniper (5 Aug)

Phantom buys Solsniper, a top Solana trading platform, as part of its move from wallet to leading consumer finance platform built on crypto, with more acquisitions planned.

NFT | Art Blocks 500: final 5 to be published (6 Aug)

Art Blocks will publish its 5 more generative art projects before Nov 2025, with two more in the Curated category and three as Explorations projects.

ETF | Harvard Reports $116M Stake in BlackRock’s iShares Bitcoin ETF in Latest Filing (9 Aug)

The position marks one of the largest known bitcoin allocations by a U.S. university endowment.

Crypto Macro | White House is Democratizing access to alternative assets for 401(k) investors (7 Aug)

A U.S. presidential order designates digital asset investments as eligible alternative assets for retirement plans and directs the Department of Labor and SEC to explore easing regulations to allow 401(k) participants to invest in them.

Looking Ahead

Defi | Curve DAO to vote on 21M CRV grant for Swiss Stake AG (19 Aug)

In August 2025, Curve DAO will vote on granting 21M CRV over one year to Swiss Stake AG for developing new crvUSD features, cross-chain functions, UI/UX upgrades, and other protocol enhancements.

L1 | Celo to activate Ice Cream hardfork on Alfajores testnet (20 Aug)

On Aug 20, 2025, Celo’s Alfajores testnet will activate the Ice Cream hardfork, bringing EigenDA v2 for faster confirmations, improved stability, and greater scalability.

Wrapping Up

From a market data perspective: Crypto market cap rose 9.43% as ETH led DEX activity, meme market cap gains despite volume dropped, and macro signals turned risk-on with falling VIX and rising equities.

From a market events perspective: Pump.fun expanded its ecosystem, Harvard disclosed a major BTC ETF position, and the U.S. moved to include crypto in 401(k) plans.