Token Terminal
Encrypted financial data aggregation platform
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Project Overview
Token Terminal is a full stack onchain data platform that focuses on standardizing financial and alternative data for the most widely used blockchains and decentralized applications. Token Terminal extracts raw smart contract event data from multiple blockchains, aggregates, cleans, and transforms it into standardized and comparable business metrics.
DeFi Overall Deposits Decline 15%, RWA Deposits Rise Against Trend to $7.4 Billion
According to BeInCrypto, a latest report jointly released by CoinShares and Token Terminal shows that over the past year (Q2 2025 to Q2 2026), the deposit volume of tokenized real-world assets (RWA) in the DeFi sector increased from $2.3 billion to $7.4 billion, a year-on-year increase of more than twofold, while total DeFi deposits declined by approximately 15% during the same period. The growth was primarily concentrated in yield-bearing products, including tokenized treasury bonds and multi-strategy funds (such as JTRSY, BUIDL, sUSDS), with Aave, Morpho, and Kamino providing the deepest liquidity. Meanwhile, on-chain RWA spot trading volume increased by approximately 220% year-on-year, while native crypto spot trading volume on decentralized exchanges fell by approximately 70%.
Bitwise: Crypto Stocks Rise 23% in First Half of 2026, Outperforming Most Major Asset Classes
Bitwise released a report stating that while crypto asset prices fell by approximately 36% in the first half of 2026, crypto-related stocks rose by 23%. This performance trailed only emerging market stocks, outpacing all other major asset classes. Bitwise Head of Research Ryan Rasmussen noted that the 30 crypto-related publicly listed companies in the Bitwise Crypto Innovators 30 Index outperformed the U.S. stock market by a factor of two, driven by factors including AI computing demand benefiting mining companies, stablecoin issuers, and asset tokenization platforms.Furthermore, according to Token Terminal data, the top ten crypto applications generated cumulative revenue of $5.9 billion over the past 12 months. PancakeSwap, Hyperliquid, and Aave ranked in the top three, with cumulative revenues of $923 million, $912 million, and $877 million, respectively.During the same period, the scale of tokenized real-world assets reached $33 billion in the second quarter, an increase of 45% from the beginning of the year; open interest in prediction markets hit an all-time high of $1.8 billion, with quarterly trading volume reaching $43 billion. (The Block)
Ethereum monthly transaction volume exceeds 70 million, hitting a new all-time high; median transaction fee drops to $0.00554, also a new record low
OKX Ventures cited Token Terminal data on X platform, stating that Ethereum's monthly transaction volume has surpassed 70 million, reaching a new all-time high. Meanwhile, the network's median transaction fee has dropped to approximately $0.00554, also setting a new record low. This indicates that Ethereum is gradually achieving a network state characterized by “high efficiency and low cost.”In light of this, OKX Ventures believes that Layer 2 solutions and modular architectures are continuously reducing on-chain interaction costs, and the historically high gas fee issue is seeing significant improvement. As transaction costs fall to sufficiently low levels, applications such as stablecoins, blockchain games, social platforms, AI agents, and RWA (Real World Assets) will find it easier to attract real users. Public chain competition is entering the “experience era,” where future competition will no longer be based solely on TPS, but rather on whether the network can provide better security, liquidity, and user experience. Ethereum retains a strong advantage in terms of developer and ecosystem strength. As costs decline, on-chain payments, asset issuance, and cross-border settlement activities are expected to continue growing, and blockchain infrastructure is gradually becoming part of the mainstream digital economy. OKX Ventures will continue to focus on infrastructure upgrades and long-term application value within the Ethereum ecosystem. What truly matters is not just market price fluctuations, but the sustained growth in real on-chain usage.
Ethereum Mainnet Monthly Transaction Count Hits New High, While Transaction Fees Hit New Low
According to Token Terminal data, Ethereum’s monthly transaction count has hit a new all-time high, exceeding 70 million transactions, while the median transaction fee stands at approximately $0.00554, marking a new all-time low.
Related news
Token Terminal: Byreal's xStocks trading volume exceeds $100 million over the past 30 days
Odaily News: According to Token Terminal data on September 15, over the past 30 days, the cumulative trading volume of xStocks tokenized stocks on DEXs was approximately $1 billion.Among them, Raydium accounted for 80.5% of the market share with approximately $805.2 million in trading volume; Byreal ranked second with approximately $107.9 million in trading volume; Orca followed with approximately $72.5 million.On-chain tokenized stock trading activity has notably increased recently. As more stock-related assets and liquidity enter on-chain markets, DEXs are gradually becoming one of the important trading and liquidity venues for tokenized stocks.
Daily Trading Volume of Tokenized Stock DEX on Base Exceeds $100 Million for the First Time
Data from Token Terminal shows that the daily trading volume of tokenized stock DEX on Base surpassed $100 million for the first time, setting an all-time high. Over the past 30 days, cumulative trading volume totaled approximately $730.9 million, with Aerodrome contributing around $557.1 million, accounting for about 76%.
Tokenized Stock Asset Holders Grew 619.1% Over the Past 90 Days to 3.6 Million
According to Token Terminal monitoring, tokenized stock asset holders grew 619.1% over the past 90 days to 3.6 million. BNB Chain leads with 1.5 million, followed by Robinhood Chain with 1.2 million, and Solana with 647,500.
Euro stablecoins see a $156 million year-to-date increase, while USD stablecoin supply remains nearly stagnant.
According to Cryptopolitan, the latest data from Token Terminal indicates that the total supply of euro-denominated stablecoins reached $848.1 million on September 7, reflecting a year-to-date growth of approximately 22.6%, or a net increase of around $156 million. During the same period, US dollar stablecoins saw a net increase of merely $159 million; however, their base stands at $298.5 billion, making it 350 times larger than the euro stablecoin market. Regarding market concentration, EURC and EURCV collectively account for 82% of the euro stablecoin supply. EURCV, issued by SG-Forge—a digital asset subsidiary of Société Générale—holds a MiCA-compliant license and represents 19.6% of the market, marking it as the first stablecoin primarily backed by a licensed European bank subsidiary. On-chain distribution shows that Ethereum captured approximately $125 million in new issuances year-to-date, claiming a 69.4% market share, while Solana added around $30 million, securing 14.7%. Combined, these two chains accounted for nearly all annual growth. Conversely, Base witnessed a contraction, declining from $73.9 million to $58.7 million. Analysts point out that the expansion of euro stablecoins is predominantly supply-driven by issuers rather than demand-pulled by users. Liquidity for euro pairs within DeFi lending pools and perpetual contracts remains sparse, indicating that the supply-demand imbalance has yet to be resolved.
The seven most actively traded tokenized stocks are all on BNB Chain or Robinhood Chain, generating $4.3 billion in DEX trading volume over the past 30 days
Odaily News, Token Terminal posted on the X platform that the seven tokenized stocks with the highest trading volume are all on BNB Chain or Robinhood Chain. Over the past 30 days, these tokenized stocks generated a combined $4.3 billion in DEX trading volume. Among them, QQQb on BNB Chain ranked first with $1.6 billion in trading volume, while SPCXb and SPYb ranked second and third with $848.9 million and $644.5 million, respectively.Additionally, the top seven also include NVDA, SPACEX, and SPY on Robinhood Chain, as well as NVDAb on BNB Chain.
DeFi Overall Deposits Decline 15%, RWA Deposits Rise Against Trend to $7.4 Billion
According to BeInCrypto, a latest report jointly released by CoinShares and Token Terminal shows that over the past year (Q2 2025 to Q2 2026), the deposit volume of tokenized real-world assets (RWA) in the DeFi sector increased from $2.3 billion to $7.4 billion, a year-on-year increase of more than twofold, while total DeFi deposits declined by approximately 15% during the same period. The growth was primarily concentrated in yield-bearing products, including tokenized treasury bonds and multi-strategy funds (such as JTRSY, BUIDL, sUSDS), with Aave, Morpho, and Kamino providing the deepest liquidity. Meanwhile, on-chain RWA spot trading volume increased by approximately 220% year-on-year, while native crypto spot trading volume on decentralized exchanges fell by approximately 70%.