CoinDesk Research
Latest from CoinDesk Research
The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
CEX Trading Volumes Rebound to $4.29T as RWA Perps Hit All-Time High
CEX volumes rose 12.7% to $4.29T in August, rebounding from July's multi-year lows, as spot markets outpaced derivatives and RWA perps set a record $602B.
Robinhood Chain: A Distribution Moat the Market Is Already Pricing
Robinhood Chain: TVL up 90% to ~$757M, $1.69B daily DEX volume, ~$20M holder revenue - all from crypto-native flow, with Robinhood's own users still just 1-2%.
Euro Stablecoins Hit All-Time High as Tokenized Equities Reach $4.45B Record
Stablecoin market cap rises to $311B for its first monthly gain in three months; tokenized RWA hits a record $34.7B; euro stablecoins reach an all-time high of $776M.
Tokenized Equities Lead RWA Inflows as bStocks Sets the Pace
Tokenized equities lead RWA inflows as the market recovers; Binance's bStocks hit ~$118.5M in two months, now #2 issuer and ~90% of on-chain equity DEX volume.
CEX Volumes Hit 32-Month Low While DEX Spot Market Share Reaches All-Time High
Combined CEX volumes fell 23.9% to $3.76T in July, the lowest since November 2023, as DEX spot market share climbed to a record 19.5% and RWA perps hit $460B.
Tokenized RWA Hits $32.1B Record as MiCA Era Begins and Stablecoin Market Dips
MiCA's transitional period ended July 1, triggering USDT delistings across EU exchanges, while tokenized equity volumes surged 288% to a record $11.3B.
Anvil: The Missing Collateral Layer
Anvil is a shared on-chain collateral layer built on a programmable letter of credit: reserve assets as a guarantee -no loan, no interest, keep custody & yield.
Crypto Flows, Share and the Selective Rotation
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
TRON Network - Q2 2026
In Q2; TRON's stablecoin dominance rose to 28.7%, USDT supply on TRON hit $89B ATH, $89M in protocol fees (2nd to Hyperliquid), TRX +3%, and deepening institutional & agentic reach.
