CoinW Research Institute Weekly Report (March 9, 2026 - March 15, 2026)

2026-03-16 15:02:38

Collection

The total market value of global cryptocurrencies is $2.54 trillion, up from $2.37 trillion last week, an increase of approximately 7.17% this week.

Key Points

The total market capitalization of cryptocurrencies worldwide is $2.54 trillion, up from $2.37 trillion last week, representing an increase of approximately 7.17% this week. As of the time of writing, the cumulative net inflow of the U.S. Bitcoin spot ETF is approximately $56.14 billion, with a net inflow of $767 million this week; the cumulative net inflow of the U.S. Ethereum spot ETF is approximately $11.79 billion, with a net inflow of $160 million this week.

The total market capitalization of stablecoins is $30.83 billion, up from $30.66 billion last week, an increase of approximately 0.55%; among them, the market capitalization of USDT is $18.406 billion, accounting for 59.7% of the total market capitalization of stablecoins, up from $18.389 billion last week, an increase of about 0.09%; followed by USDC with a market capitalization of $7.91 billion, accounting for 25.65%, up from $7.72 billion last week, an increase of approximately 2.46%; DAI has a market capitalization of $537 million, accounting for 1.75%, unchanged from last week.

According to DeFiLlama data, the total TVL of DeFi this week is $96.847 billion, up from $95.505 billion last week, an increase of approximately 1.41%. By public chain classification, the top three public chains by TVL are Ethereum, accounting for 59.27%; Solana, accounting for 7.29%; and BNB Chain, accounting for 6.02%.

This week, the core data of public chains shows a recovery in activity and capital scale. In terms of daily trading volume on DEX, Solana $1.143B (+17.96%), BNB Chain $0.787B (+22.02%), and Sui $0.065B (+33.18%) increased, while Ethereum $0.813B (-5.68%), Ton $0.0015B (-38.52%), and Aptos $0.011B (-67.87%) declined. Overall, transaction fees remain stable, with Ethereum, BNB Chain, and Ton around $0.01, Aptos around $0.000001, remaining basically unchanged from last week; Solana dropped to $0.001 (-69.01%), and Sui rose to $0.0024 (+41.75%). In terms of user activity, daily active addresses generally rebounded, with Aptos at 1.07 million (+15.32%) and Sui at 317,000 (+11.23%) leading the growth, while other chains also saw slight increases to varying degrees. In terms of capital scale, TVL overall rebounded, with Ethereum at $57.23B (+5.60%) continuing to lead, followed by Solana at $7.12B (+8.86%) and BNB Chain at $5.86B (+1.91%), while Sui at $0.618B (+10.2%) had the largest increase this week.

New project focus: Kled AI is a blockchain-based AI data marketplace platform dedicated to building a data supply network directly involving users, allowing individuals and institutions to upload original data such as photos, videos, and documents, and earn revenue by authorizing AI companies to use this data. Superpower Health is a digital health technology company focused on building an AI-driven "Health Super-App." Utexo is a stablecoin payment infrastructure project built on the Bitcoin ecosystem, aiming to provide a Bitcoin-based USDT settlement network for wallets, exchanges, and payment institutions.

Key Points

Market Overview
Panic Index
ETF Inflow and Outflow Data
ETH / BTC and ETH / USD Exchange Rates
Decentralized Finance (DeFi)
On-chain Data
Stablecoin Market Capitalization and Issuance

II. Hot Money Trends This Week

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

III. Industry News

Major Industry Events This Week
Major Upcoming Events Next Week
Important Investments and Financing 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 $2.54 trillion, up from $2.37 trillion last week, representing an increase of approximately 7.17% this week.

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

Data as of March 15, 2026

As of the time of writing, the market capitalization of Bitcoin is $1.45 trillion, accounting for 57.08% of the total cryptocurrency market capitalization. Meanwhile, the market capitalization of stablecoins is $30.83 billion, accounting for 12.13% of the total cryptocurrency market capitalization.

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

Data as of March 15, 2026

2. Panic Index

The cryptocurrency panic index is 24, indicating panic.

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

Data as of March 15, 2026

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 $56.14 billion, with a net inflow of $767 million this week; the cumulative net inflow of the U.S. Ethereum spot ETF is approximately $11.79 billion, with a net inflow of $160 million this week.

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

Data as of March 15, 2026

4. ETH / BTC and ETH / USD Exchange Rates

ETHUSD: Current price $2,178.50, historical highest price $4,946.05, down approximately 55.95% from the highest price.

ETHBTC: Currently 0.030012, historical highest 0.1238.

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

Data as of March 15, 2026

5. Decentralized Finance (DeFi)

According to DeFi Llama data, the total TVL of DeFi this week is $96.847 billion, up from $95.505 billion last week, an increase of approximately 1.41%.

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

Data as of March 15, 2026

By public chain classification, the top three public chains by TVL are Ethereum, accounting for 59.27%; Solana, accounting for 7.29%; and BNB Chain, accounting for 6.02%.

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

Data as of March 15, 2026

6. On-chain Data

Layer 1 related data

Mainly analyzing the current data of major Layer 1 chains including ETH, SOL, BNB, TON, SUI, and APTOS based on daily trading volume, daily active addresses, and transaction fees.

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

Data as of March 15, 2026

On-chain DEX daily trading volume and transaction fees: On-chain DEX daily trading volume and transaction fees are core indicators of public chain activity and user experience. This week, the daily trading volume of DEX saw increases for Solana ($1.143B, +17.96%), BNB Chain ($0.787B, +22.02%), and Sui ($0.065B, +33.18%). Other chains saw declines, with Ethereum ($0.813B, -5.68%), Ton ($0.0015B, -38.52%), and Aptos ($0.011B, -67.87%). In terms of transaction fees, this week Ethereum ($0.01), BNB Chain ($0.01), Ton ($0.01), and Aptos ($0.000001) remained stable; Solana ($0.001) decreased by 69.01% compared to last week; Sui ($0.0024) increased by 41.75% 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 user trust in the platform. This week, daily active addresses overall rebounded. Aptos (1.07 million) and Sui (317,000) led with increases of 15.32% and 11.23%; other chains showed varying degrees of slight increases, with Ethereum (575,000, +9.60%), BNB Chain (2.5 million, +8.23%), Ton (124,000, +6.39%), and Solana (1.92 million, +0.52%). This week, TVL overall showed a rebound. Sui ($0.618B) led with an increase of 10.2%; followed by Solana ($7.12B) with an increase of 8.86%; other chains were Ethereum ($57.23B, +5.60%), BNB Chain ($5.86B, +1.91%), Aptos ($0.322B, +1.90%), and Ton ($0.061B, +0.13%).

Layer 2 related data

According to L2 Beat data, the total TVL of Ethereum Layer 2 this week is $33.21 billion, up from $31.90 billion last week, an overall increase of 4.16%.

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

Data as of March 15, 2026

This week, the market shares of Base and Arbitrum are 37.28% and 18.17%, ranking first and second.

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

Data as of March 15, 2026

7. Stablecoin Market Capitalization and Issuance

According to Coinglass data, the total market capitalization of stablecoins is $30.83 billion, up from $30.66 billion last week, an increase of approximately 0.55%; among them, the market capitalization of USDT is $18.406 billion, accounting for 59.7%, up from $18.389 billion last week, an increase of about 0.09%; followed by USDC with a market capitalization of $7.91 billion, accounting for 25.65%, up from $7.72 billion last week, an increase of approximately 2.46%; DAI has a market capitalization of $537 million, accounting for 1.75%, unchanged from last week.

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

Data as of March 15, 2026

According to Whale Alert data, this week USDC Treasury issued a total of 4.302 billion USDC, and Tether Treasury issued a total of 1 billion USDT this week. The total issuance of stablecoins this week is 5.302 billion, an increase of 59.07% compared to last week's total issuance of stablecoins (3.333 billion).

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

Data as of March 15, 2026

II. Hot Money Trends This Week

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

The top five VC coins by growth in the past week

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

Data as of March 15, 2026

The top five meme coins by growth in the past week

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

Data as of March 15, 2026

2. New Project Insights

Kled AI is a blockchain-based AI data marketplace platform dedicated to building a data supply network directly involving users, allowing individuals and institutions to upload original data such as photos, videos, and documents, and earn revenue by authorizing AI companies to use this data. The platform collects and verifies real-world data through a mobile application, anonymizes and structures the data to form licensable datasets for AI companies to use for model training and evaluation, thereby providing high-quality and diverse data sources for the AI industry while ensuring data copyright and compliance.

Superpower Health is a digital health technology company focused on building an AI-driven "Health Super-App." By integrating blood biomarker testing, health data management, and personalized medical advice, it helps users achieve proactive health management. The platform offers members annual or semi-annual blood tests covering over 100 biomarkers, and combines medical records, wearable device data, and AI analysis to generate personalized health reports, health scores, and action plans, along with support from an online team of doctors and health consultants, aiming to transform traditional passive healthcare into a digital healthcare service system centered on prevention and long-term health optimization.

Utexo is a stablecoin payment infrastructure project built on the Bitcoin ecosystem, aiming to provide a Bitcoin-based USDT settlement network for wallets, exchanges, and payment institutions. The platform combines RGB protocol, Lightning Network, and Bitcoin main chain security to provide instant settlement, fixed fees, and privacy-executed payment infrastructure for stablecoin payments, and helps businesses route USDT transactions directly to the Bitcoin network for settlement without managing the underlying complex technology through a unified API interface.

III. Industry News

1. Major Industry Events This Week

On March 10, 2026, the omnichannel trading platform Based announced the official launch of the BASED token airdrop query tool, allowing users to check their token allocation in the upcoming airdrop distribution. The project previously announced the BASED token economics: a total supply of 1 billion tokens, with 36% allocated to the community, 23.64% for ecosystem and community rewards, 20.36% allocated to investors, and 20% allocated to core contributors. The launch of the airdrop query tool is seen as an important step before the Genesis airdrop distribution, used to confirm the airdrop eligibility and allocation of early users and ecosystem participants.

On March 11, 2026, Unitas Labs (UP) launched its Token Generation Event (TGE), with public subscription opening on March 13 at an issuance price of approximately $0.005/UP, setting aside about 10 million UP as a TGE reward pool, along with another approximately 10 million UP for subsequent ecosystem incentives. Before the token issuance, the project launched the Season 1 Points program, allowing users to earn points by participating in the USDu ecosystem, providing liquidity, and inviting users. The official stated that about 45% of the token supply will be allocated to the ecosystem and community, with some expected to be distributed to early participants and points users in the form of airdrops.

Nebula3 (SN3) completed its Token Generation Event (TGE) on March 11, 2026, and officially launched token circulation. The project simultaneously launched a community airdrop activity: the airdrop claim opened on March 11, 2026, at 16:00 (UTC +8), allowing eligible users to redeem airdrop rewards using points on the event page, with each eligible wallet able to claim up to approximately 1,000 SN3, distributed on a first-come, first-served basis. This token issuance and airdrop are seen as important steps for the launch of the Nebula3 ecosystem, aiming to expand community participation in its GameFi and multi-chain gaming ecosystem through early user incentives.

2. Major Upcoming Events Next Week

Backpack recently announced its native token issuance and airdrop plan. According to the project disclosure, the total token supply is 1 billion, with 25% of the token supply (approximately 250 million) to be released into circulation during the Token Generation Event (TGE), of which 24% is allocated to users who previously participated in the platform's Points program, and 1% is allocated to Mad Lads NFT holders as airdrop rewards for early ecosystem contributors. The TGE is currently expected to take place on March 23, 2026, with the specific date to be confirmed by the team. The points system previously accumulated points based on user activity in the wallet and ecosystem to determine airdrop allocation ratios.

EarnPark (PARK) is advancing its token issuance plan through multi-stage token sales. According to the project schedule, Tier 5 token sales are expected to start on April 13, 2026, with a token price of approximately $0.018/PARK, following the previous Tier 1 (launched in Q2 2025 at $0.01) and subsequent Tier 3 and Tier 4 sales. The project adopts a phased Token Sale approach, with the specific time for the Token Generation Event (TGE) yet to be officially announced.

WorldX (WLDX) plans to conduct an IDO (Initial DEX Offering) from March 15 to March 20, 2026, publicly selling approximately 1.8 billion WLDX (accounting for 18% of the total supply) at a token price of $0.0025, with a target financing of approximately $4.5 million, corresponding to a project FDV of about $25 million. The tokens in this round will be 100% unlocked upon allocation. Current public information indicates that the specific time for the TGE (Token Generation Event) has yet to be officially announced.

3. Important Investments and Financing Last Week

K A ST announced the completion of $80 million in Series A financing, led by QED Investors and Left Lane Capital, with participation from Peak XV, HongShan Capital, and DST Global among others. The funds will mainly be used for product development, compliance construction, and global market expansion. K A ST is a fintech platform based on stablecoin infrastructure, dedicated to building a global payment and account system similar to a "stablecoin bank," providing users with dollar-denominated accounts, stablecoin payments, and debit card services for global consumption, enabling individuals and businesses to achieve cross-border payments and fund management through stablecoins. (March 9, 2026)

Zcash Open Development Lab announced the completion of over $25 million in seed round financing, with investors including Paradigm, a16z crypto, Winklevoss Capital, Coinbase Ventures, Cypherpunk Technologies, Chapter One, and other well-known institutions and several investors in the crypto industry. The funds will mainly be used to expand the engineering team, continue developing the Zcash protocol, and improve the Zodl wallet ecosystem. Zodl is a crypto wallet project focused on privacy payments, with the core goal of promoting the large-scale application of Zcash (ZEC) privacy payments. The product was initially named Zashi and officially completed its rebranding to Zodl in February 2026, with wallet functionality and user assets unaffected. (March 9, 2026)

Crypto accounting infrastructure company Cryptio announced the completion of $45 million in Series B financing, led by BlackFin Capital Partners and Sentinel Global, with participation from 1kx, BlueYard Capital, Ledger Cathay Capital, and other institutions. Cryptio is a digital asset financial infrastructure platform for enterprises and financial institutions, mainly providing on-chain asset tracking, accounting and auditing, tax and compliance reporting, and loan management software, helping businesses convert complex on-chain transaction data into financial statements that meet traditional financial standards and comply with global regulatory and auditing requirements. (March 12, 2026)