CoinDesk Research
Latest from CoinDesk Research
SpaceX IPO Drives Tokenized Equity Volumes to Record as Stablecoin Market Cap Falls
Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B.
Building the Zcash Machine: Tachyon and Quantum Readiness
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
The Evolution of the Crypto CEX Landscape: A Case Study on Binance
Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
Equities on Crypto Rails: A Platform Comparison
US equities on crypto rails: access is easy, on-chain composability is the real test. Only Binance and Backpack deliver both - and only Binance at scale.
CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
Real Shares, Real Scale: Binance's US Equities Launch in Numbers
Binance's US-equities launch already outpaces the tokenized market - and with bStocks live, it now competes on composability too. Real shares and tokens, one platform.
The Incentive Dynamic Engine: A New Era for io.net Tokenomics
io.net's IDE ties token burns to real GPU demand, replacing fixed emissions with a demand-linked model - live as of 11 June 2026.
RWA Tokenization Hits $28.9B Record as Stablecoin Market Cap Extends Gains to $320B
Tokenized assets hit a record $28.9B in May; their tenth consecutive monthly all-time high. The stablecoin market cap also extended its run to $320B.
The Pre-IPO Perpetuals Category Takes Shape
Binance launched Pre-IPO perpetuals May 21. Within days, it captured >60% category share; cumulative volume now ~$400M, with SPACEX dominating at 79%.
Spot Trading at Lowest Since November 2023 as Volumes Fall for Fourth Straight Month
Spot volumes fell 14.0% to $1.05T in April, the lowest since November 2023. Total exchange volume declined 11.7% to $4.61T, a fourth straight monthly drop.
