CoinW Research Institute Weekly Report (April 6, 2026 - April 12, 2026)

Key Points

The total market value of global cryptocurrency is $2.49 trillion, up from $2.45 trillion last week, an increase of approximately 1.63% this week. As of the time of writing, the total net inflow of the U.S. Bitcoin Spot ETF is approximately $56.74 billion, with a net inflow of $786 million this week; the total net inflow of the U.S. Ethereum Spot ETF is approximately $11.67 billion, with a net inflow of $187 million this week.

The total market value of stablecoins is $310.3 billion, up from $309.9 billion last week, an increase of approximately 0.12%. Among them, USDT has a market value of $18.44 billion, accounting for 59.44% of the total stablecoin market value, up 0.19% from $18.40 billion last week; followed by USDC with a market value of $78.6 billion, accounting for 25.33%, rising approximately 1.41% from $77.5 billion last week; DAI has a market value of $5.36 billion, accounting for 1.75%, remaining flat compared to last week.

According to DeFiLlama data, the total TVL of DeFi this week is $94.871 billion, up from $94.524 billion last week, an increase of approximately 0.36%. By public chain, the three chains with the highest TVL are Ethereum, accounting for 56.69%; Solana chain, accounting for 6.02%; BNB Chain, accounting for 5.64%.

This week, on-chain data has seen a slight recovery. In daily trading volume on on-chain DEX, Solana with $0.986B continues to lead, followed by BNB Chain ($0.618B) and Ethereum ($0.614B), while Ton has seen the most significant growth, reaching $0.004B (+226.83%); in terms of transaction fees, Ethereum ($0.01) and BNB Chain ($0.00001) remain relatively stable, Ton rises to $0.0033 (+24.64%), while Solana ($0.001, -86.30%) and Sui ($0.00096, -41.89%) have seen declines. In terms of daily active users, Solana leads with 4.086 million daily active users, followed by BNB Chain (2.49 million), with Aptos (1.366 million) seeing the largest increase (+57.48%), while Ethereum (587,000) and Ton (127,000) also saw growth. The overall change in TVL is minor, with only Ton ($0.06B, +9.64%) and Aptos ($0.28B, +4.03%) showing some improvement.

New Project Focus: Enhanced Finance is a next-generation structured product infrastructure platform built on-chain, focusing on providing yield enhancement solutions for users' crypto assets. NanoVita is a decentralized science (DeSci) platform that combines nanotechnology, AI Bio-intelligence, and real-world assets, aimed at revolutionizing the field of health research. Splyce Finance is a decentralized finance protocol in the Solana ecosystem, committed to providing real yield from real-world assets.

Key Points

I. Market Overview

1. Total Cryptocurrency Market Value/Bitcoin Market Value Ratio

2. Fear Index

3. ETF Inflow and Outflow Data

4. ETH/BTC and ETH/USD Exchange Rates

5. Decentralized Finance (DeFi)

6. On-chain Data

7. Stablecoin Market Value and Issuance Status

II. This Week's Hot Money Trends

1. Top 5 VC Coins and Meme Coins by Growth this Week

2. New Project Insights

III. Industry News Updates

1. Major Industry Events This Week

2. Major Events Coming Next Week

3. Significant Funding and Investment from Last Week

IV. Reference Links

I. Market Overview

1. Total Cryptocurrency Market Value/Bitcoin Market Value Ratio

The global Total Cryptocurrency Market Value is $2.49 trillion, up from $2.45 trillion last week, an increase of approximately 1.63% this week.

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

Data as of April 12, 2026

As of the time of writing, the market value of Bitcoin is $1.42 trillion, accounting for 57.02% of the total cryptocurrency market value. Meanwhile, the market value of stablecoins is $310.3 billion, accounting for 12.46% of the total cryptocurrency market value.

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

Data as of April 12, 2026

2. Fear Index

The cryptocurrency fear index is 13, indicating extreme fear.

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

Data as of April 12, 2026

3. ETF Inflow and Outflow Data

As of the time of writing, the total net inflow of the U.S. Bitcoin Spot ETF is approximately $56.74 billion, with a net inflow of $786 million this week; the total net inflow of 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 12, 2026

4. ETH/BTC and ETH/USD Exchange Rates

ETHUSD: Current price $2202.53, historical highest price $4946.05, down approximately 55.48% from the highest price.

ETHBTC: Currently 0.030972, historical high 0.1238

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

Data as of April 12, 2026

5. Decentralized Finance (DeFi)

According to DeFiLlama data, the total TVL of DeFi this week is $94.871 billion, up from $94.524 billion last week, an increase of approximately 0.36%.

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

Data as of April 12, 2026

By public chain, the three chains with the highest TVL are Ethereum chain, accounting for 56.69%; Solana chain, accounting for 6.02%; BNB Chain, accounting for 5.64%.

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

Data as of April 12, 2026

6. On-chain Data

Layer 1 Related Data

This primarily analyzes daily transaction volume, daily active addresses, and transaction fees for major Layer 1s including ETH, SOL, BNB, TON, SUI, and APTOS.

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

Data as of April 12, 2026

On-chain DEX Daily Trading Volume and Transaction Fees: The daily trading volume and transaction fees on on-chain DEX are core indicators of public chain activity and user experience. In daily trading volume on on-chain DEX, Ton ($0.004B) performed outstandingly, rising by 226.83%; other chains saw varying degrees of increase: BNB Chain ($0.618B, +17.05%), Sui ($0.034B, +11.08%), Ethereum ($0.614B, +9.06%), Solana ($0.986B, +7.17%), and Aptos ($0.019B, +4.00%). In terms of transaction fees, Ethereum ($0.01), BNB Chain ($0.00001) remained stable; Ton ($0.0033) increased by 24.64%; other chains saw declines, namely: Solana ($0.001, -86.30%), Sui ($0.00096, -41.89%), and Aptos ($0.000001, -4.65%).

Daily Active Addresses and TVL: Daily active addresses reflect ecosystem participation and user stickiness on the public chain, while TVL reflects user trust in the platform. This week, all chains showed a recovery in daily active addresses. Aptos (1.366 million) led with a 57.48% increase; followed by Ethereum (587,000) and Ton (127,000) rising by 28.86% and 21.71% respectively; BNB Chain (2.49 million), Sui (293,000), and Solana (4.086 million) showed a decline of 1%-4%. In terms of TVL, Ton ($0.06B) increased by 9.64%; Aptos ($0.28B) rose by 4.03%; other chains changed little compared to last week.

Layer 2 Related Data

According to L2Beat data, this week Ethereum Layer 2 total TVL is $31.59 billion, up from $30.70 billion last week, an increase of 2.89%.

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

Data as of April 12, 2026

This week, Base and Arbitrum market shares are 35.60% and 16.58%, respectively, ranking first and second.

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

Data as of April 12, 2026

7. Stablecoin Market Value and Issuance Status

According to Coinglass data, the total market value of stablecoins is $310.3 billion, up from $309.9 billion last week, an increase of approximately 0.12%. Among them, the market value of USDT is $18.44 billion, accounting for 59.44% of the total stablecoin market value, up 0.19% from $18.40 billion last week; USDC has a market value of $7.86 billion, accounting for 25.33%, up approximately 1.41% from $7.75 billion last week; DAI has a market value of $5.36 billion, accounting for 1.75%, remaining flat compared to last week.

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

Data as of April 12, 2026

According to Whale Alert data, this week USDC Treasury has issued a total of 2.2 billion USDC, while Tether Treasury issued no USDT this week. The total issuance of stablecoins this week is 2.2 billion, a decrease of 25.37% from last week's total stablecoin issuance (2.948 billion).

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

Data as of April 12, 2026

II. This Week's Hot Money Trends

1. Top 5 VC Coins and Meme Coins by Growth this Week

The top five VC coins with the highest growth in the past week

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

Data as of April 12, 2026

The top five meme coins with the highest growth in the past week

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

Data as of April 12, 2026

2. New Project Insights

Enhanced Finance is a next-generation structured product infrastructure platform built on-chain, focusing on providing yield enhancement solutions for users' crypto assets. The protocol utilizes derivative strategies to help users achieve higher returns on mainstream assets while realizing capital appreciation through volatility yield strategies.

NanoVita is a decentralized science (DeSci) platform that combines nanotechnology, AI biological intelligence, and real-world assets, aimed at revolutionizing health research. The protocol consists of four core pillars: nanotechnology data storage (real-time molecular interaction logs), AI models (Gemini 2.5-driven biological intelligence simulation), RWA health assets (tokenizing health data into tradable assets), and the DeSci protocol.

Splyce Finance is a decentralized finance protocol in the Solana ecosystem, dedicated to providing real yield from real-world assets. Its core products include single-asset vaults (providing fixed-rate, fixed-term lending services) and splyceUSDC (a yield auto-compounding stablecoin). Splyce brings institutional-grade assets from traditional finance (such as tokenized U.S. Treasuries, private credit) into the DeFi space, and is currently deployed on multiple chains including Solana, Stellar, and Sui, allowing users to participate without certification of investor qualification.

III. Industry News Updates

1. Major Industry Events This Week

The Web3 token OFC from OneFootball was officially launched on April 9, 2026, for TGE (Token Generation Event) and began trading. Users can immediately claim 10% of their total airdrop allocation on the day of TGE, with the remaining 90% gradually released over different periods of 3, 6, or 9 months, with the specific release ratio tied to the user's chosen locking period and activity. This airdrop is based on the previous "BALLS point system" and leaderboard distribution, covering approximately 25,000 users and an initial distribution scale of 100,000 OFC, and officially open for claim after TGE (specific claiming entrance and time to be announced by the official).

Sentio (ST) launched its Pre-TGE subscription phase on April 7, 2026 (UTC), issuing approximately 10 million ST (1% of total) at around $0.02 each, as a pre-circulation share allocation. The project has not yet announced the final TGE official trading opening time and is still in the "pre-distribution + lock-up waiting for circulation" transitional phase, with design focus on reducing short-term selling pressure through delayed release mechanisms and screening long-term participating users.

MultichainZ (CHAINZ) is currently in its Strategic Sale phase (considered the core fundraising stage of this round IDO), running from March 27 to April 15, with a price of $0.0023, corresponding to an approximate valuation of $23 million, planning to release about 730 million tokens for distribution. The project has not revealed the specific TGE date but has confirmed it will be triggered once the mainnet goes live and TVL reaches a certain scale. MultichainZ is a cross-chain lending protocol aimed at the integration of DeFi and traditional finance, allowing users to seamlessly collateralize assets and borrow across different blockchains, while supporting real-world assets (RWA), NFTs, and crypto assets as collateral to achieve higher capital efficiency in cross-chain liquidity management.

2. Major Events Coming Next Week

EarnPark (PARK) plans to launch Token Sale Tier 5 (this round IDO) on April 13, 2026, selling approximately 15 million PARK (1.5% of total) at a price of $0.018, corresponding to a valuation of about $18 million, as the last round of public financing before TGE. Subsequently, the project has scheduled TGE for June 1, 2026 (13:34), at which time the token will officially be generated and enter circulation. EarnPark (PARK) is a Web3 platform focused on user asset management and yield optimization, featuring "simplifying cryptocurrency asset management" and helping users achieve steady returns in various market environments through strategic products.

Cognibase (COG) plans to launch a new round of IDO on April 28, 2026, with a fundraising scale of about $200,000 and an initial valuation of about $135,000 market value / $10 million FDV. In terms of airdrops, the project has a free distribution mechanism similar to "Launchpool," expecting to allocate around 5 million tokens (0.5% of total) for user incentives and early participation rewards. The project has not disclosed a clear TGE (official circulation launch) time and is still in the early phase of "IDO pre-collection + small-scale airdrop pre-distribution." Cognibase is an infrastructure project for blockchain services, emphasizing data and on-chain service capabilities, following a typical early-stage small-cap project path, first completing cold starts through IDO, then gradually advancing token circulation and ecosystem building.

Crypto D.app plans this round of financing to continue until June 30, 2026, with an overall target financing of approximately $3.62 million, corresponding to an initial market value of about $9.3 million and FDV of about $30 million. According to current public information, its TGE is expected to start around July 2026 (after the pre-sale ends), but a clear specific launch time has not been announced. Crypto D.app is a Web3 platform aimed at early cryptocurrency project discovery and data analysis, mainly aggregating ICOs, IDOs, and other issuance information, helping users filter potential investment opportunities and track market trends.

3. Significant Funding and Investment from Last Week

Pharos Network announced the completion of a $44 million Series A financing, jointly supported by Asian private equity funds, compliant financial institutions, and industrial capital, with participants including Sumitomo Corporation, SNZ, Chainlink, Flow Traders, etc., bringing its total funding to $52 million. The project is positioned as a Layer 1 network for institutional finance, focusing on on-chain RWA (real-world assets), aiming to connect the traditional financial system with the on-chain economy, and supporting large-scale asset movements through a compliant structure and high-performance execution. This financing will primarily be used to expand its "RealFi" infrastructure and global market layout. (April 8, 2026)

oh.xyz completed financing of approximately $7 million, with the specific round and investment institution not fully disclosed. The project is overall positioned towards Web3 infrastructure and tool layers, aiming to optimize on-chain interaction experience and development efficiency, lowering the usage threshold for users and developers. The project encompasses the value of an "intermediary layer," providing a smoother connection between underlying protocols and applications, and its financing reflects the market's continued focus on enhancing Web3 usability and user experience. (April 8, 2026)

RWA L1 network SimpleChain announced the completion of $15 million in seed round financing, with investments from family offices and institutional investors. SimpleChain aims to build an RWA Layer 1 network, positioned as an institutional operating system for RWA. This network will be driven by granular data and native CaaS, and aims to provide financial-grade infrastructure for tokenizing global real assets. (April 10, 2026)