CoinW Research Institute Weekly Report (April 13, 2026 - April 19, 2026)

2026-04-20 15:18:27

Collection

The total market value of global cryptocurrencies is $2.62 trillion, up from $2.49 trillion last week, an increase of approximately 5.22% this week.

Key Points

The total market capitalization of cryptocurrencies worldwide is $2.62 trillion, up from $2.49 trillion last week, representing an increase of approximately 5.22% this week. As of the time of writing, the cumulative net inflow for the U.S. Bitcoin spot ETF is approximately $57.74 billion, with a net inflow of $996 million this week; the cumulative net inflow for the U.S. Ethereum spot ETF is approximately $11.67 billion, with a net inflow of $187 million this week.

The total market capitalization of stablecoins is $313.1 billion, up from $310.3 billion last week, an increase of approximately 0.90%. Among them, the market cap of USDT is $187.26 billion, accounting for 59.81% of the total stablecoin market cap, up 1.53% from $184.43 billion last week; followed by USDC with a market cap of $78.2 billion, accounting for 24.97%, down approximately 0.51% from $78.6 billion last week; DAI has a market cap of $5.36 billion (unchanged from last week), accounting for 1.71% of the total stablecoin market cap.

According to DeFiLlama data, the total TVL of DeFi this week is $86.275 billion, down from $94.871 billion last week, a decrease of approximately 9.06%. By public chain classification, the three public chains with the highest TVL are Ethereum, accounting for 54.14%; Solana, accounting for 6.47%; and BNB Chain, accounting for 6.26%.

This week, on-chain data shows a structural characteristic of "active trading recovery but user and capital divergence": in terms of daily trading volume on on-chain DEXs, Ethereum performed the strongest with a daily trading volume of $2.515 billion, a weekly increase of 218.35%, becoming the main growth engine, while BNB Chain ($0.796 billion, +28.80%) and Sui ($0.046 billion, +33.48%) also achieved growth; however, Solana ($1.12 billion, -4.84%), Aptos (-62.95%), and Ton (-47.01%) experienced varying degrees of decline. Overall, transaction fees stabilized, with only Ton decreasing by 17.32%, while Solana (+45.82%), Sui (+27.07%), and Aptos (+12.20%) saw slight increases, reflecting a rise in on-chain usage costs. In terms of users and capital, the situation is relatively pressured: only BNB Chain (2.75 million, +10.44%) and Sui (294,000, +0.14%) saw growth in daily active addresses, while other mainstream chains significantly declined, with Solana (-45.92%) showing a notable drop. In terms of TVL, Ethereum ($47.26 billion, -11.47%) led the decline, with Ton and Sui also experiencing slight declines, while Solana, BNB Chain, and Aptos recorded only about 1%-2% moderate growth.

New project focus: Brix Money is a DeFi platform that brings emerging market financial assets on-chain, with a core positioning of connecting on-chain funds with real yield assets offline. Claw Intelligence is an on-chain AI tool for Web3 users, dedicated to integrating decentralized on-chain data and operational processes. Totalis is a derivatives trading protocol for prediction markets, aiming to build an "event-driven" trading layer infrastructure.

Key Points

Market Overview
Total Cryptocurrency Market Cap / Bitcoin Market Cap Proportion
Fear Index
ETF Inflow and Outflow Data
ETH/BTC and ETH/USD Exchange Rates
Decentralized Finance (DeFi)
On-Chain Data
Stablecoin Market Cap and Issuance
Hot Money Trends This Week
Top Five VC Coins and Meme Coins by Growth This Week
New Project Insights
Industry News
Major Industry Events This Week
Major Upcoming Events Next Week
Important Investments and Financing Last Week
Reference Links

1. Market Overview

1. Total Cryptocurrency Market Cap / Bitcoin Market Cap Proportion

The global total cryptocurrency market cap is $2.62 trillion, up from $2.49 trillion last week, an increase of approximately 5.22% this week.

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

Data as of April 19, 2026

As of the time of writing, the market cap of Bitcoin is $1.48 trillion, accounting for 56.48% of the total cryptocurrency market cap. Meanwhile, the market cap of stablecoins is $313.1 billion, accounting for 11.95% of the total cryptocurrency market cap.

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

Data as of April 19, 2026

2. Fear Index

The cryptocurrency fear index is 28, indicating fear.

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

Data as of April 19, 2026

3. ETF Inflow and Outflow Data

As of the time of writing, the cumulative net inflow for the U.S. Bitcoin spot ETF is approximately $57.74 billion, with a net inflow of $996 million this week; the cumulative net inflow for the U.S. Ethereum spot ETF is approximately $11.67 billion, with a net inflow of $187 million this week.

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

Data as of April 19, 2026

4. ETH/BTC and ETH/USD Exchange Rates

ETHUSD: Current price $2,279.78, historical highest price $4,946.05, down approximately 53.89% from the highest price.

ETHBTC: Currently at 0.030692, historical high at 0.1238.

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

Data as of April 19, 2026

5. Decentralized Finance (DeFi)

According to DeFiLlama data, the total TVL of DeFi this week is $86.275 billion, down from $94.871 billion last week, a decrease of approximately 9.06%.

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

Data as of April 19, 2026

By public chain classification, the three public chains with the highest TVL are Ethereum, accounting for 54.14%; Solana, accounting for 6.47%; and BNB Chain, accounting for 6.26%.

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

Data as of April 19, 2026

6. On-Chain Data

Layer 1 Related Data

Mainly analyzing daily trading volume, daily active addresses, and transaction fees for major Layer 1 chains including ETH, SOL, BNB, TON, SUI, and APTOS.

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

Data as of April 19, 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. In terms of on-chain DEX daily trading volume, Ethereum ($2.515 billion) performed outstandingly, rising 218.35%; Sui ($0.046 billion, +33.48%) and BNB Chain ($0.796 billion, +28.80%) also achieved increases. Other chains experienced varying degrees of decline, including Aptos ($0.008 billion, -62.95%), Ton ($0.0021 billion, -47.01%), and Solana ($1.12 billion, -4.84%). In terms of transaction fees, only Ton ($0.0034) decreased by 17.32%; Ethereum ($0.01) and BNB Chain ($0.00001) remained basically stable compared to last week; Solana ($0.001, +45.82%), Sui ($0.00121, +27.07%), and Aptos ($0.000001, +12.20%) all saw increases.

Daily Active Addresses and TVL: Daily active addresses reflect the ecological participation and user stickiness of public chains, while TVL reflects the level of user trust in the platform. In terms of daily active addresses, only BNB Chain (2.75 million, +10.44%) and Sui (294,000, +0.14%) saw increases; other chains all declined, with Solana (2.21 million, -45.92%), Ethereum (473,000, -19.35%), Aptos (1.1 million, -19.08%), and Ton (119,000, -6.68%). In terms of TVL, Ethereum ($47.26 billion), Ton ($0.058 billion), and Sui ($0.55 billion) fell by 11.47%, 4.26%, and 3.51% respectively; other chains, including Solana, BNB Chain, and Aptos, achieved small increases of about 1%-2%.

Layer 2 Related Data

According to L2Beat data, the total TVL of Ethereum Layer 2 this week is $32.33 billion, up from $31.59 billion last week, an increase of 2.34%.

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

Data as of April 19, 2026

This week, Base and Arbitrum have market shares of 39.64% and 16.79%, ranking first and second.

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

Data as of April 19, 2026

7. Stablecoin Market Cap and Issuance

According to Coinglass data, the total market cap of stablecoins is $313.1 billion, up from $310.3 billion last week, an increase of approximately 0.90%. Among them, USDT has a market cap of $187.26 billion, accounting for 59.81% of the total stablecoin market cap, up 1.53% from $184.43 billion last week; followed by USDC with a market cap of $78.2 billion, accounting for 24.97%, down approximately 0.51% from $78.6 billion last week; DAI has a market cap of $5.36 billion (unchanged from last week), accounting for 1.71% of the total stablecoin market cap.

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

Data as of April 19, 2026

According to Whale Alert data, this week the USDC Treasury issued a total of 2.616 billion USDC, and the Tether Treasury issued a total of 1 billion USDT this week. The total issuance of stablecoins this week is 3.616 billion, an increase of 64.36% compared to last week's total issuance of 2.2 billion.

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

Data as of April 19, 2026

2. 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 April 19, 2026

The top five meme coins by growth in the past week

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

Data as of April 19, 2026

2. New Project Insights

Brix Money is a DeFi platform that brings emerging market financial assets on-chain, with a core positioning of connecting on-chain funds with real yield assets offline. It tokenizes traditional financial products such as money market funds in a compliant manner, allowing these assets to serve as programmable and composable yield sources on-chain, provided to users in the form of stablecoins or quasi-stable assets, achieving "real-world yield on-chain." The project emphasizes collaboration with local banks and financial institutions to transform the interest rate spreads and yields of emerging markets into globally accessible on-chain liquidity and investment opportunities.

Claw Intelligence is an on-chain AI tool for Web3 users, dedicated to integrating decentralized on-chain data and operational processes. It combines market data, on-chain analysis, research tools, and trading execution functions on the same platform, and through AI-driven conversational interactions, transforms complex data and operations into directly executable workflows, significantly lowering the barriers for users to analyze and trade on-chain. Essentially, Claw Intelligence serves as an integrated smart operational layer connecting "data understanding - strategy generation - trading execution."

Totalis is a derivatives trading protocol for prediction markets, aiming to build an "event-driven" trading layer infrastructure. This project allows users to construct composite (similar to parlay) trading strategies around macro events, cryptocurrency markets, sports, and other targets, enhancing capital efficiency and yield expression through cross-market and multi-event combinations. Essentially, Totalis seeks to introduce derivatives and structured trading mechanisms on top of traditional prediction markets, allowing users to not only bet on single events but also express more complex market views, thereby expanding the liquidity depth and financial attributes of prediction markets.

3. Industry News

1. Major Industry Events This Week

Genius (GENIUS) officially conducted its Token Generation Event (TGE) on April 13, 2026, and prior to this, conducted task-based incentive activities through channels such as CoinMarketCap Launch, guiding users to earn points (Genius Points, GP) through registration, interaction, and trading behaviors, which directly map to token allocation amounts. After the TGE, the official immediately opened airdrop claims, distributing approximately 70 million GENIUS tokens in the first round (Season 1), with a differentiated claiming mechanism (such as early claiming discounts, locked claims, etc.), while both team and investor tokens have a lock-up period of at least one year.

On April 14, 2026, xMoney (XMN) completed a "renaming + TGE + airdrop" integrated token migration event. This was not a traditional independent TGE, but a reconstruction upgrade from the original token Utrust (UTK) to XMN: On April 14, mainstream trading platforms initiated the delisting of UTK and the listing of XMN, simultaneously executing token exchanges and airdrop distributions. Users could complete the migration through two paths (3 UTK = 1 XMN or lock-up for 6 months for 1:1 exchange), while the platform additionally provided airdrop incentives, allowing eligible UTK holders to receive extra distribution at a rate of 3 UTK = 2 XMN. The related airdrop and distribution were mainly completed between April 14 and 15.

On April 14, 2026, the "Zhang Xue Motorcycle" related meme coin initiated market distribution and user incentives, with its token launch not following the traditional TGE path, but using "airdrop + trading incentives" as the main cold start method. The project set up phased airdrop rewards linked to trading behaviors (such as deposits, trading participation, etc.), quickly achieving initial user coverage and liquidity guidance, forming a centralized "airdrop frenzy" communication effect. This project leans more towards a typical meme coin launch paradigm: relying on event-driven and user emotion diffusion, rapidly amplifying participation and market attention through high-frequency incentives, rather than distributing based on a long-term token economic model.

2. Major Upcoming Events Next Week

The verifiable AI computing layer OpenGradient will open token OPG airdrop claims on April 21. Previously, the project officially launched the token airdrop registration portal on April 16 (registration ends on April 20). OpenGradient is an infrastructure project focused on "verifiable AI computing," aiming to enhance the credibility and auditability of AI computing results through on-chain mechanisms. Its token OPG has a total supply of 1 billion tokens, of which 40% is allocated to the ecosystem, 15% to the foundation, 15% to core contributors, 10% to investors and advisors, 10% for staking rewards, 6% for liquidity and launch, and 4% for airdrops.

Bullshot (BULL) plans to launch its IDO on April 22, aiming to raise approximately $7.65 million, with a total supply of 1 billion tokens, reserving about 0.5% for Launchpool distribution. The independent TGE time has not yet been clarified, but it is expected to connect with the IDO or the subsequent launch phase. Bullshot is a platform project with DeFi/token issuance tool attributes, focusing on allowing users to create meme tokens, participate in trading and leaderboard incentives, thereby accumulating points and vying for future airdrop distributions, essentially closer to a "on-chain token issuance + growth incentive" lightweight application layer product.

Cineflicks (CNF) will launch a new round of ICO financing on April 19, continuing until May 16, with a unit price of approximately $0.002, expecting to sell 2,000,000,000 tokens, planning to raise $4 million, with a 12-month lock-up period for this batch of tokens. Cineflicks is a Web3 entertainment content platform, focusing on an interactive streaming model of "content + community + participation," and extending a "Watch-to-Earn" mechanism, attempting to upgrade the passive consumption of traditional streaming media into an ecosystem where users can participate and earn rewards.

3. Important Investments and Financing Last Week

Paxos Labs announced the completion of a strategic financing round of approximately $12 million, led by Blockchain Capital, with participation from Robot Ventures, Maelstrom Family Office, and Uniswap. Paxos Labs is a digital asset product layer platform incubated from Paxos, dedicated to providing enterprises with one-stop on-chain financial capability integration. Its core product is the Amplify platform, which enables stablecoin issuance, asset earning, and collateralized lending through a single interface, helping exchanges, fintech platforms, and Web3 applications convert users' digital assets into yield-generating financial products, positioned as the "on-chain asset productivity layer." (April 14, 2026)

Deutsche Börse announced an investment of approximately $200 million in Kraken's parent company, acquiring about 1.5% equity. This transaction is a secondary market equity investment, focusing on deepening cooperation between the two parties in compliant trading, derivatives, and institutional liquidity. This event marks a deeper involvement of traditional financial infrastructure in the cryptocurrency market and further strengthens Kraken's path towards becoming a "compliant financial market infrastructure." Kraken is a leading global cryptocurrency exchange established in 2011, providing spot, derivatives, and institutional-level services. (April 14, 2026)

Nava Labs announced the completion of a $8.3 million seed round financing, led by Polychain and Archetype, with participation from FalconX, Hack VC, and others. The funds will be used to build secure execution and trust infrastructure for the "Agentic Economy," addressing the core issue of AI being "usable but uncontrollable" in financial and trading scenarios. Nava Labs is an infrastructure project aimed at the AI Agent economy, dedicated to providing a verifiable and controllable on-chain execution environment for automated intelligent agents. Its core product, Nava AI, introduces custody, verification, and strategy constraint mechanisms to ensure safety and control when AI handles real funds and transactions. (April 14, 2026)