The stablecoin market cap hit a new all-time high of $320B; its fourth consecutive monthly expansion.
The total market cap of tokenized real-world assets reached $28.9B; a new record and the tenth straight monthly gain.
Both milestones came as broader digital asset prices trended lower.
On the tokenization side, equities were the fastest-moving category, surging 20.4% to a record $2.41B; their fourteenth consecutive monthly gain.
@BlackRock's BUIDL overtook @Circle's USYC as the largest tokenized fund at $2.98B
RWA perpetual futures volumes hit a new all-time high of $211B, with equity perps up 121% to $54B
Full breakdown in the May 2026 Stablecoins and Tokenized Assets Report: top 10 stablecoin rankings, the USDS spotlight, tokenized bonds and MMFs, and the full RWA perps analysis.
Full report from @CoinDesk Research here: coindesk.com/research/stableโฆ
The CoinDesk 20 is currently trading at 1681.25, down 4.8% (-84.48) since 4 p.m. ET on Thursday.
All 20 assets are trading lower.
Leaders: $BTC (-2.8%) and $BNB (-2.9%).
Laggards: $ICP (-14.6%) and $NEAR (-14.3%).
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Crypto due diligence has changed. In todayโs Crypto for Advisors newsletter:
- @HaddockBeth on the three due diligence questions advisors should ask in 2026
- @AaronJBrogan on the GENIUS Act implementation timeline
Edited by @MortonInsights.
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The CoinDesk 20 is currently trading at 1751.54, down 3.7% (-67.17) since 4 p.m. ET on Wednesday.
One of the 20 assets is trading higher.
Leaders: $BCH ( 1.5%) and $HBAR (-2.1%).
Laggards: $NEAR (-15.2%) and $ICP (-13.1%).
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Top-Tier exchanges (BB grade and above) are just 27% of the rated universe.
But they handle 59% of Q1 spot volume โ up from 40% six months ago. Average daily volume: $1.55B
Institutional flow is concentrating in higher-rated venues.
Data via CoinDesk Data. Full report ๐
In this weekโs Crypto Long & Short newsletter:
- @alextapscott on the stalling of the CLARITY Act and how itโs impacting American consumers
- Aisha Hunt writes that crypto will grow by upgrading Wall Streetโs trusted products rather than replacing them
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The CoinDesk 20 is currently trading at 1862.4, down 0.6% (-11.0) since 4 p.m. ET on Tuesday.
Fifteen of the 20 assets are trading higher.
Leaders: $NEAR ( 15.1%) and $XLM ( 5.7%).
Laggards: $BCH (-10.7%) and $BNB (-3.4%).
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The CoinDesk 20 is currently trading at 1941.81, down 2.6% (-51.57) since 4 p.m. ET on Monday.
Two of the 20 assets are trading higher.
Leaders: $NEAR ( 3.2%) and $ICP ( 0.7%).
Laggards: $XLM (-8.4%) and $AAVE (-3.9%).
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The CoinDesk 20 is currently trading at 1993.65, up 0.2% ( 3.54) since 4 p.m. ET on Friday.
Seven of the 20 assets are trading higher.
Leaders: $XLM ( 14.1%) and $BNB ( 7.9%).
Laggards: $NEAR (-7.3%) and $BCH (-6.8%).
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The CoinDesk 20 is currently trading at 1975.1, down 0.8% (-14.99) since 4 p.m. ET on Thursday.
Three of the 20 assets are trading higher.
Leaders: $NEAR ( 1%) and $HBAR ( 0.5%).
Laggards: $TAO (-4%) and $ICP (-3.8%).
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Crypto derivatives volumes fell 11.1% in April to $3.55T, the lowest since September 2024 as the AI boom drew traders toward TradFi.
But derivatives share of CEX volume climbed.
Derivatives now command 77.1% of total volume, up from 76.5% in March, the highest since June 2025.
Trading slowed, but what remained tilted further toward leverage.
Read more in the April 2026 CoinDesk Data's Exchange Review ๐
27% of exchanges. 59% of volume.
Top-tier crypto exchanges command the lion's share of Q1 spots โ up from 40% in October.
Average daily volume across the tier: $1.55B
Data sourced via CoinDesk DatA.
See the full report ๐