CoinW Research Weekly Report (Issue 2026.4.13 - 2026.4.19)

Key Takeaways

The total global cryptocurrency market capitalization is $2.62 trillion, up approximately 5.22% this week from $2.49 trillion last week. As of press time, the cumulative total net inflow for U.S. Bitcoin spot ETFs is approximately $57.74 billion, with a net inflow of $996 million this week; the cumulative total net inflow for U.S. Ethereum spot ETFs is approximately $11.67 billion, with a net inflow of $187 million this week.

The total stablecoin market capitalization is $313.1 billion, up about 0.90% from $310.3 billion last week. Among them, USDT's market cap 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% of the total stablecoin market cap, down about 0.51% from $78.6 billion last week; DAI's market cap is $5.36 billion (unchanged from last week), accounting for 1.71% of the total stablecoin market cap.

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

On-chain data this week shows a structural characteristic of "increased transaction activity but divergence in users and capital": In terms of daily DEX trading volume on-chain, Ethereum performed the strongest, with daily volume reaching $2.515B, a weekly increase of 218.35%, becoming the main growth engine. Meanwhile, BNB Chain ($0.796B, +28.80%) and Sui ($0.046B, +33.48%) also saw growth. However, Solana ($1.12B, -4.84%), Aptos (-62.95%), and Ton (-47.01%) experienced varying degrees of decline. Transaction fees overall stabilized, with only Ton decreasing by 17.32%, while Solana (+45.82%), Sui (+27.07%), and Aptos (+12.20%) saw slight increases, reflecting rising usage costs on some chains. User and capital levels were relatively under pressure: Daily active addresses only increased for BNB Chain (2.75 million, +10.44%) and Sui (294k, +0.14%), while other major chains saw significant declines, with Solana (-45.92%) dropping relatively notably. In terms of TVL, Ethereum ($47.26B, -11.47%) led the decline, with Ton and Sui also experiencing slight drops, while Solana, BNB Chain, and Aptos recorded only modest growth of about 1%-2%.

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

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. This Week's Hot Money Trends

1. Top 5 Weekly Gainers Among VC Coins and Meme Coins

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 $2.62 trillion, up approximately 5.22% this week from $2.49 trillion last week.

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

Data as of April 19, 2026

As of press time, Bitcoin's market cap is $1.48 trillion, accounting for 56.48% of the total cryptocurrency market cap. Meanwhile, the stablecoin market cap is $313.1 billion, accounting for 11.95% of the total cryptocurrency market cap.

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

Data as of April 19, 2026

2. Fear & Greed Index

The Cryptocurrency Fear & Greed Index is 28, indicating Fear.

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

Data as of April 19, 2026

3. ETF Inflow/Outflow Data

As of press time, the cumulative total net inflow for U.S. Bitcoin spot ETFs is approximately $57.74 billion, with a net inflow of $996 million this week; the cumulative total net inflow for U.S. Ethereum spot ETFs 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, all-time high $4,946.05, down approximately 53.89% from ATH.

ETHBTC: Currently 0.030692, all-time high 0.1238.

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

Data as of April 19, 2026

5. Decentralized Finance (DeFi)

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

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

Data as of April 19, 2026

Segmented by public chain, the three 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, defillama, https://defillama.com/chains 

Data as of April 19, 2026

6. On-Chain Data

Layer 1 Related Data

Analyzes current data for major Layer 1s including ETH, SOL, BNB, TON, SUI, and APTOS, focusing on daily transaction volume, daily active addresses, and transaction fees.

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

Data as of April 19, 2026

On-Chain DEX Daily Volume & 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, Ethereum ($2.515B) stood out, rising 218.35%; Sui ($0.046B, +33.48%) and BNB Chain ($0.796B, +28.80%) also increased. Other chains saw varying degrees of decline, including Aptos ($0.008B, -62.95%), Ton ($0.0021B, -47.01%), and Solana ($1.12B, -4.84%). Regarding transaction fees, only Ton ($0.0034) decreased by 17.32%; Ethereum ($0.01) and BNB Chain ($0.00001) remained largely flat compared to last week; Solana ($0.001, +45.82%), Sui ($0.00121, +27.07%), and Aptos ($0.000001, +12.20%) all increased.

Daily Active Addresses & TVL: Daily active addresses reflect a public chain's ecosystem participation and user stickiness, while TVL reflects user trust in the platform. For daily active addresses, only BNB Chain (2.75 million, +10.44%) and Sui (294k, +0.14%) saw increases; other chains declined: Solana (2.21 million, -45.92%), Ethereum (473k, -19.35%), Aptos (1.10 million, -19.08%), and Ton (119k, -6.68%). In terms of TVL, Ethereum ($47.26B), Ton ($0.058B), and Sui ($0.55B) decreased by 11.47%, 4.26%, and 3.51% respectively; other chains including Solana, BNB Chain, and Aptos saw modest increases of about 1%-2%.

Layer 2 Related Data

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

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% respectively, 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 stablecoin market cap is $313.1 billion, up about 0.90% from $310.3 billion last week. Among them, USDT's market cap 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%