Unlike the unsustainable January spike, TRX’s current rally is broader, steadier, and backed across all holding periods.

With mid-term strength intact and +150% gains for 1-year holders, multi-year highs could be next.

Markets look like they’re in the late stage: sentiment suggests it’s time to take profits.

Volatility can deliver outsized gains, but equally outsized losses. With sentiment above 0.5, it’s a time to scale out — sub-0.5 levels are better for scaling in.

Solana’s ecosystem TVL has climbed to a record ~$32.4B, up ~200% YoY.

Top apps by TVL include Circle, Kamino, Jupiter, Jito, Sanctum, Marinade, Tether, and more.

According to Dune data, BTC ETFs currently hold 6.38% of total Bitcoin supply, while ETH ETFs account for 5.08% of all ETH.

At the current pace, ETH ETFs are on track to surpass BTC ETFs by September.

The fastest-growing stablecoin and RWA issuers, measured by 30-day TVL growth (filter: TVL > $100M).

Top 5 issuers: WisdomTree Prime, Ethena, Global Dollar Network, PayPal, Agora.

Events, news and smart insights this week in the new research 📨

General
➖ Crypto.com: Research Roundup Newsletter [August 2025]
➖ Binance: Weekly: Rate Cut Incoming, BTC ATH and ETH Rallies, Stablecoins in Limelight
➖ Galaxy: Backing DoubleZero to Usher in a New Era of Blockchain Scaling
➖ Galaxy: Weekly Top Stories - 8/15/25

Market
➖ CoinShares: Market update - August 15th, 2025
➖ CoinShares: Digital asset fund flows | August 18th 2025
➖ Coinbase: Weekly: Fed, ETH and new stablecoin L1s
➖ Glassnode: BTC Market Pulse: Week 34
➖ Glassnode: A Derivatives Led Market
➖ Galaxy: ETH ETF Flows, Treasury Buys, and the Crypto Rally
➖ Galaxy: Institutional Flows and Yield Strategies Drive Crypto Market Maturation

DeFi
➖ Coinmarketcap: Bitunix Earn: Turn Idle Coins Into Moon-Ready Yield

In Q2 2025, Marinade Finance reached 11.1M SOL staked across its three products.

Marinade Native now leads by TVL, driven by institutional demand for non-custodial SOL staking.

New token markets are heating up fast, with daily volumes ranging between $400M and $1.6B.

Binance stands out, recording $1.1B in trades in just a single day.

Most global fund managers surveyed by BofA still hold zero crypto.

Even among those with exposure, the average portfolio allocation is just 3.2%.

Layer 2 trading remains highly concentrated, with Base capturing nearly half of all activity.

Uniswap dominates across chains, with PancakeSwap trailing behind.

Global search interest in altcoins has dropped sharply amid the latest crypto pullback.

Searches for “alt season” fell to 45 this week, down from 100 just days earlier when Bitcoin hit $124,128.

Digital asset treasuries have become the leading driver of crypto capital allocation in 2025.

So far, companies have raised over $15B, outpacing traditional venture funding.

BNB Chain’s TVL has climbed to $13.4B, its highest level since 2022.

Active addresses have stayed above 14M for nine straight weeks, and $BNB trades just 3% below its all-time high, even as most tokens have already pulled back.

Solana’s memecoin launchpad Pump.fun logged one of its strongest weeks of 2025, pulling in $13.48M in revenue.

It marks the platform’s best performance since February, signaling a solid rebound after this month’s dip.

Hyperliquid led last week’s buybacks with $24M, while Pump.fun added $10M.

The trend highlights how high-revenue protocols are increasingly using repurchases as a preferred capital allocation strategy.

Historically, shifts in global M2 have often led BTC moves with a slight lag.

Current data shows M2 rolling over from a September peak, hinting at weaker liquidity ahead. For Bitcoin, that could mean a slowdown as policy tightening and the U.S. Treasury’s TGA refill drain liquidity.

USDC reserves on Tier-1 CEXs nearly doubled in under two weeks, hitting a new all-time high.

Coinbase and Kraken saw strong inflows, while Binance managed outflows with a swift $2.4B USDT entry, further reinforcing its stablecoin dominance.