CoinW Research Weekly Report (Issue 2026.3.9 - 2026.3.15)
- Core View: The cryptocurrency market showed an overall recovery trend this week, with total market cap rising significantly. Activity and capital scale on major public chains generally increased, while stablecoin issuance accelerated. Although market sentiment remains fearful, capital flows indicate positive signals.
- Key Elements:
- Global cryptocurrency market cap reached $2.54 trillion, a weekly increase of 7.17%; Bitcoin spot ETFs saw a net inflow of $767 million this week, while Ethereum spot ETFs had a net inflow of $160 million.
- Total DeFi TVL stands at $96.847 billion, up 1.41% week-over-week; Ethereum, Solana, and BNB Chain occupy the top three spots in TVL, accounting for over 72% combined.
- Major public chain data diverged: DEX daily trading volume on Solana, BNB Chain, and Sui rose significantly (up to +33.18%), while Aptos and Ton saw substantial declines; daily active addresses generally recovered, with Aptos and Sui leading the growth.
- Total stablecoin market cap reached $308.3 billion, a weekly increase of 0.55%; USDT and USDC collectively issued approximately $5.302 billion this week, a significant 59.07% increase compared to the previous period.
- Market attention is focused on new projects such as Kled AI (a blockchain AI data marketplace), Utexo (a Bitcoin ecosystem stablecoin payment facility), and several upcoming Token Generation Events (TGEs) and airdrops.
Key Takeaways
The global cryptocurrency market capitalization is $2.54 trillion, up approximately 7.17% this week from $2.37 trillion last week. As of the time of writing, the cumulative total net inflow for U.S. Bitcoin spot ETFs is approximately $56.14 billion, with a weekly net inflow of $767 million; the cumulative total net inflow for U.S. Ethereum spot ETFs is approximately $11.79 billion, with a weekly net inflow of $160 million.
The total stablecoin market capitalization is $308.3 billion, up about 0.55% from $306.6 billion last week. Among them, USDT has a market cap of $184.06 billion, accounting for 59.7% of the total stablecoin market cap, up about 0.09% from $183.89 billion last week. Next is USDC with a market cap of $79.1 billion, accounting for 25.65% of the total stablecoin market cap, up about 2.46% from $77.2 billion last week. DAI has a market cap of $5.37 billion, accounting for 1.75% of the total stablecoin market cap, unchanged from last week.
According to DeFiLlama data, the total DeFi TVL this week is $96.847 billion, up about 1.41% from $95.505 billion last week. Segmented by public chain, the three public chains with the highest TVL are Ethereum, accounting for 59.27%; Solana, accounting for 7.29%; and BNB Chain, accounting for 6.02%.
Core public chain data this week generally shows a recovery in activity and capital scale. In terms of on-chain DEX daily trading volume, 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. Transaction fees were generally stable, with Ethereum, BNB Chain, and Ton all around $0.01, and Aptos around $0.000001, largely 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 recovered, with Aptos 1.07 million (+15.32%) and Sui 317k (+11.23%) leading the growth, while other chains also saw slight increases to varying degrees. In terms of capital scale, TVL overall recovered, with Ethereum's $57.23B (+5.60%) TVL continuing to lead, followed by Solana $7.12B (+8.86%) and BNB Chain $5.86B (+1.91%). Additionally, Sui $0.618B (+10.2%) had the largest relative increase this week.
New Projects to Watch: Kled AI is a blockchain-based AI data marketplace platform dedicated to building a data supply network with direct user participation, enabling individuals and organizations to upload raw 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 dedicated to building an AI-driven "Health Super-App". Utexo is a stablecoin payment infrastructure project built on the Bitcoin ecosystem, dedicated to providing a Bitcoin-based USDT settlement network for wallets, exchanges, and payment institutions.
Table of Contents
Key Takeaways
I. Market Overview
1. Total Cryptocurrency Market Cap / Bitcoin Dominance
2. Fear & Greed Index
3. ETF Inflow/Outflow Data
4. ETH/BTC and ETH/USD Exchange Rates
5. Decentralized Finance (DeFi)
6. On-Chain Data
7. Stablecoin Market Cap and Issuance
II. Hot Money Trends This Week
1. Top 5 Performing VC Coins and Meme Coins This Week
2. New Project Insights
III. Industry News
1. Major Industry Events This Week
2. Upcoming Major Events Next Week
3. Important Fundraising Last Week
IV. Reference Links
I. Market Overview
1. Total Cryptocurrency Market Cap / Bitcoin Dominance
The global total cryptocurrency market cap is $2.54 trillion, up approximately 7.17% this week from $2.37 trillion last 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, Bitcoin's market cap is $1.45 trillion, accounting for 57.08% of the total cryptocurrency market cap. Meanwhile, the stablecoin market cap is $308.3 billion, accounting for 12.13% of the total cryptocurrency market cap.
Data Source: coingecko, https://www.coingecko.com/en/charts
Data as of March 15, 2026
2. Fear & Greed Index
The Cryptocurrency Fear & Greed Index is 24, indicating Fear.
Data Source: coinglass, https://www.coinglass.com/pro/i/FearGreedIndex
Data as of March 15, 2026
3. ETF Inflow/Outflow Data
As of the time of writing, the cumulative total net inflow for U.S. Bitcoin spot ETFs is approximately $56.14 billion, with a weekly net inflow of $767 million; the cumulative total net inflow for U.S. Ethereum spot ETFs is approximately $11.79 billion, with a weekly net inflow of $160 million.
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, all-time high $4,946.05, down approximately 55.95% from the ATH.
ETHBTC: Currently 0.030012, all-time high 0.1238.
Data Source: ratiogang, https://ratiogang.com/
Data as of March 15, 2026
5. Decentralized Finance (DeFi)
According to DeFiLlama data, the total DeFi TVL this week is $96.847 billion, up about 1.41% from $95.505 billion last week.
Data Source: defillama, https://defillama.com
Data as of March 15, 2026
Segmented by public chain, the three public chains with the highest TVL are Ethereum, accounting for 59.27%; Solana, accounting for 7.29%; and BNB Chain, accounting for 6.02%.
Data Source: CoinW Research, defillama, https://defillama.com
Data as of March 15, 2026
6. On-Chain Data
Layer 1 Related Data
This section analyzes current data for major Layer 1 chains including ETH, SOL, BNB, TON, SUI, and APTOS, focusing on daily trading volume, daily active addresses, and transaction fees.
Data Source: CoinW Research, defillama, https://defillama.com
Data as of March 15, 2026
On-Chain DEX Daily Volume and Transaction Fees: On-chain DEX daily volume and transaction fees are core metrics for measuring public chain activity and user experience. In terms of on-chain DEX daily volume this week, Solana ($1.143B, +17.96%), BNB Chain ($0.787B, +22.02%), and Sui ($0.065B, +33.18%) increased. Other chains declined: Ethereum ($0.813B, -5.68%), Ton ($0.0015B, -38.52%), and Aptos ($0.011B, -67.87%). Regarding transaction fees, Ethereum ($0.01), BNB Chain ($0.01), Ton ($0.01), and Aptos ($0.000001) remained flat this week; 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 ecosystem participation and user stickiness of a public chain, while TVL reflects user trust in the platform. Daily active addresses recovered overall this week. Aptos (1.07 million) and Sui (317k) led with increases of 15.32% and 11.23% respectively; other chains: Ethereum (575k, +9.60%), BNB Chain (2.5 million, +8.23%), Ton (124k, +6.39%), and Solana (1.92 million, +0.52%). TVL overall recovered this week. Sui ($0.618B) led with a 10.2% increase; followed by Solana ($7.12B) up 8.86%; other chains: 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 L2Beat data, the total Ethereum Layer 2 TVL this week is $33.21 billion, up 4.16% overall from $31.90 billion last week.
Data Source: L2Beat, https://l2beat.com/scaling/tvs
Data as of March 15, 2026
This week, Base and Arbitrum have market shares of 37.28% and 18.17% respectively, ranking first and second.
Data Source: CoinGecko, https://www.coingecko.com/en/chains/layer-2
Data as of March 15, 2026
7. Stablecoin Market Cap and Issuance
According to Coinglass data, the total stablecoin market cap is $308.3 billion, up about 0.55% from $306.6 billion last week. Among them, USDT has a market cap
