CoinW Research Institute Weekly Report (August 10, 2026 - August 16, 2026)

CoinWResearch Institute

Key Points

The total market capitalization of cryptocurrencies worldwide is $2.24 trillion, down from $2.28 trillion last week, a decrease of about 1.75% this week. As of publication, the cumulative net inflow of Bitcoin spot ETFs in the United States is approximately $51.79 billion, with a net outflow of $389 million this week and a total net asset value of $76.61 billion (a decrease of about 3.64% from last week’s $79.5 billion); the cumulative net inflow of Ethereum spot ETFs in the United States is about $11.45 billion, with a net outflow of $2.26 million this week and a total net asset value of $10.52 billion (a decrease of about 2.05% from last week’s $10.74 billion).

The total market capitalization of stablecoins is $306.5 billion, up about 1.49% from last week’s $302 billion. Among them, USDT has a market capitalization of $182.95 billion, accounting for 59.69% of the total market capitalization of stablecoins, down about 0.08% from last week's $183.1 billion; USDC has a market capitalization of $71.86 billion, accounting for 23.44%, down about 0.47% from last week’s $72.2 billion; DAI has a market capitalization of $4.57 billion, accounting for 1.49%, down about 0.22% from last week’s $4.58 billion.

According to DeFiLlama, the total TVL (Total Value Locked) of DeFi this week is $74.685 billion, down about 1.60% from last week's $75.897 billion. Broken down by public chains, the three public chains with the highest TVL are Ethereum, accounting for 54.48%; BNB Chain, accounting for 6.51%; Tron, accounting for 6.41%.

This week’s performance of major public chains (Ethereum, Solana, BNB Chain, Gram, Sui, Aptos): This week, the on-chain activity of mainstream public chains showed a divergence, with BNB Chain DEX daily transaction volume rising to $0.905 billion (+33.09%), surpassing Solana; Solana fell to $1.059 billion (-23.26%), Ethereum fell to $0.323 billion (-12.70%), and Sui and Aptos saw their transaction volumes decline by 40.00% and 35.00% respectively. In terms of active on-chain user addresses, Solana (1.95 million) and BNB Chain (1.93 million) remain at the forefront, while Ethereum daily active addresses rose to 432,700 (+14.65%), and Sui decreased by 44.39% to 90,500. In terms of TVL, Ethereum continues to lead with $41.095 billion, followed by BNB Chain and Solana with $4.877 billion and $4.781 billion respectively, with overall fund sizes slightly retreating; meanwhile, gas fees on various chains remain low, keeping on-chain transaction costs manageable.

New project focus: Entravel is a Crypto Travel / TravelTech infrastructure company aimed at Web3, crypto assets, and fintech platforms, primarily offering hotel and flight bookings, exclusive member pricing, and crypto payment services, integrating travel services into wallets, trading platforms, and fintech applications via white-label and API. Blacksmith is an AI/cloud infrastructure company aimed at developers, initially optimizing GitHub Actions through its high-performance computing infrastructure to provide faster, lower-cost CI/CD services for enterprises, now further expanding to AI Agent, Coding Agent, and Sandbox developer infrastructure scenarios. Silicon Data is a company focusing on AI Compute market data and financial infrastructure, helping enterprises optimize GPU procurement, cloud computing costs, and long-term infrastructure planning by providing real-time GPU pricing, performance benchmarks, computational market data, and price prediction tools.

Key Points

I. Market Overview

1. Total Market Capitalization of Cryptocurrencies / Bitcoin Market Cap Ratio

2. Fear Index

3. ETF Inflows and Outflows Data

4. ETH/BTC and ETH/USD Exchange Rates

5. Decentralized Finance (DeFi)

6. On-Chain Data

7. Stablecoin Market Cap and Issuance Status

II. Hot Money Trends This Week

1. Top five VC and Meme coins by percentage gain this week

2. New Project Insights

III. New Industry Dynamics

1. Major Industry Events This Week

2. Major Events Coming Up Next Week

3. Important Investments and Financing from Last Week

IV. Reference Links

I. Market Overview

1. Total Market Capitalization of Cryptocurrencies / Bitcoin Market Cap Ratio

The global Total Market Capitalization of Cryptocurrencies is $2.24 trillion, down from $2.28 trillion last week, a decrease of about 1.75% this week.

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

Data as of August 16, 2026

As of publication, the market capitalization of Bitcoin is $1.26 trillion, accounting for 56.25% of the total cryptocurrency market capitalization. Meanwhile, the market capitalization of stablecoins is $306.5 billion, accounting for 13.68% of the total cryptocurrency market capitalization.

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

Data as of August 16, 2026

2. Fear Index

The cryptocurrency fear index is 30, indicating fear; down by one point from last week's 31.

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

Data as of August 16, 2026

3. ETF Inflows and Outflows Data

As of publication, the cumulative total net inflow of Bitcoin spot ETFs in the United States is approximately $51.79 billion, with a net outflow of $389 million this week and a total net asset value of $76.61 billion (a decrease of about 3.64% from last week's $79.5 billion); the cumulative total net inflow of Ethereum spot ETFs in the United States is about $11.45 billion, with a net outflow of $2.26 million this week and a total net asset value of $10.52 billion (a decrease of about 2.05% from last week's $10.74 billion).

Data Source: sosovalue, https://sosovalue.com/zh/assets/etf

Data as of August 16, 2026

4. ETH/BTC and ETH/USD Exchange Rates

ETHUSD: Current price $1,893.15, all-time high $4,946.05, down about 61.72% from the all-time high.

ETHBTC: Currently at 0.030028, all-time high at 0.1238.

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

Data as of August 16, 2026

5. Decentralized Finance (DeFi)

According to DeFiLlama, the total TVL of DeFi this week is $74.685 billion, down about 1.60% from last week's $75.897 billion.

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

Data as of August 16, 2026

By public chains, the three public chains with the highest TVL are Ethereum, accounting for 54.48%; BNB Chain, accounting for 6.51%; and Tron, accounting for 6.41%.

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

Data as of August 16, 2026

6. On-Chain Data (Ethereum, Solana, BNB Chain, Gram, Sui, Aptos)

Layer 1 Related Data

This section analyzes the relevant data of major Layer 1 chains including ETH, SOL, BNB, GRAM (formerly TON), SUI, and APTOS based on daily transaction volume, daily active addresses, and transaction fees.

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

Data as of August 16, 2026

On-chain DEX daily transaction volume and transaction fees: Daily transaction volume and transaction fees on-chain DEX are important indicators of the activity level of public chain ecosystems and user trading experiences. This week, major public chains showed some divergence in on-chain transaction activity, with BNB Chain's trading volume significantly increasing and surpassing Solana, while Ethereum saw a decrease; moreover, gas fees across major public chains remain low, keeping on-chain transaction costs at manageable levels. In terms of on-chain DEX daily transaction volume, BNB Chain ($0.905B, +33.09%) demonstrated the most significant growth, regaining supremacy over Solana as the highest trading volume public chain, with improved on-chain trading activity; Solana ($1.059B, -23.26%) saw notable declines from last week but maintained a high trading volume; Ethereum ($0.323B, -12.70%) showed a decline in trading volume, indicating weaker demand for on-chain transactions compared to earlier; TON ($0.002B, flat) had basically no change in volume, remaining at lower trading levels; Sui ($0.012B, -40.00%) and Aptos ($0.013B, -35.00%) saw obvious declines, leading to reduced ecosystem trading activity. Regarding transaction fees, major public chains continued to operate with low costs. Ethereum's gas fee maintained at $0.01, generally consistent with last week; BNB Chain ($0.00001) and Aptos ($0.000001) continued to maintain extremely low transaction costs; Solana's gas fee increased from $0.0008 to $0.0012 (+50.00%), although the rise was significant, the absolute transaction cost remains at a low level; TON's gas fee decreased from $0.0009 to $0.0008 (-11.11%), while Sui's dropped from $0.0004 to $0.0003 (-25.00%), further reducing transaction costs.

Daily Active Addresses and TVL: Daily active addresses reflect the ecological engagement and user retention of public chains, while TVL indicates user trust in platforms. This week's data illustrated a noticeable divergence in user activity among major public chains, with Ethereum experiencing an increase in daily active addresses, while Sui showed a significant decline; TVL, however, saw a slight overall retreat, keeping fund size relatively stable. As for daily active addresses, Solana (1.95 million, -2.99%) remains the public chain with the highest number of active addresses, followed closely by BNB Chain (1.93 million, +1.58%), both maintaining high user activity levels; Ethereum (432,700, +14.65%) had a noticeable increase in daily active addresses, showing significant recovery from last week; TON (117,600, -1.74%) remained stable; Sui (90,500, -44.39%) saw a substantial decline in active addresses, indicating decreased user participation; Aptos (37,600, +3.37%) experienced a slight increase. In terms of TVL, Ethereum ($41.095B, -1.73%) continues to hold a significant lead in the industry, with overall fund size remaining stable; BNB Chain ($4.877B, -0.87%) and Solana ($4.781B, -1.63%) saw slight declines but maintained high fund scales; Sui ($0.402B, -6.51%) experienced a decrease in TVL, aligning with its drop in active addresses; TON ($0.056B, -6.67%) and Aptos ($0.058B, -3.33%) also saw slight reductions in fund size. Overall, this week’s public chain market exhibited characteristics of increased trading activity in BNB Chain, a rebound in Ethereum user activity, a maintained high level in Solana despite declining transaction volume, and a significant cooling in ecosystem activity in Sui, while on-chain fund sizes remained stable though slightly contracted.

Layer 2 Related Data

According to L2Beat data, this week's total TVL of Ethereum Layer 2 is $1.67 billion, down about 93.80% from last week's $26.95 billion.

Data Source: L2Beat, https://l2beat.com/scaling/tvs

Data as of August 16, 2026

This week, the market shares of Base and Arbitrum are 53.74% and 14.37%, ranking first and second respectively.

Data Source: CoinGecko, https://www.coingecko.com/en/chains/layer-2

Data as of August 16, 2026

7. Stablecoin Market Cap and Issuance Status

According to Coinglass data, the total market capitalization of stablecoins is $306.5 billion, up about 1.49% from last week's $302 billion. Of this, USDT has a market capitalization of $182.95 billion, accounting for 59.69% of the total stablecoin market cap, down about 0.08% from last week's $183.1 billion; USDC has a market capitalization of $71.86 billion, comprising 23.44%, down around 0.47% from last week's $72.2 billion; DAI has a market capitalization of $4.57 billion, accounting for 1.49%, down roughly 0.22% from last week's $4.58 billion.

Data Source: CoinW Research Institute, Coinglass, https://www.coinglass.com/pro/stablecoin

Data as of August 16, 2026

According to Whale Alert data, this week USDC Treasury issued a total of 1.5 billion USDC, while Tether Treasury issued a total of 1 billion USDT this week. The total issuance of stablecoins this week is 2.5 billion, consistent with last week's total issuance of stablecoins (2.5 billion).

Data Source: Whale Alert, https://x.com/whale_alert

Data as of August 16, 2026

II. Hot Money Trends This Week

1. Top Five VC and Meme Coins by Percentage Gain This Week

Top five VC coins by gain in the past week

Data Source: CoinW Research Institute, coinmarketcap, https://coinmarketcap.com/

Data as of August 16, 2026

Top five Meme coins by gain in the past week

Data Source: CoinW Research Institute, coinmarketcap, https://coinmarketcap.com/

Data as of August 16, 2026

2. New Project Insights

Entravel is a Crypto Travel / TravelTech infrastructure company targeting Web3, crypto assets, and fintech platforms, primarily providing hotel and flight bookings, member-exclusive pricing, and crypto payment services, as well as integrating travel services into wallets, trading platforms, and FinTech applications through white-label and API methods. The platform currently covers over 2.2 million hotels and accommodations worldwide and has partnered with Kraken, MetaMask, Bitget, EtherFi, KuCoin, SafePal, and others to provide hotel and travel booking services for their users; additionally, Entravel is further expanding into AI agent-driven Agentic Travel and travel infrastructure, enabling users and AI agents to independently conduct searches, bookings, and payments for hotels, flights, and other travel services.

Blacksmith is an AI/cloud infrastructure company aimed at developers, initially optimizing GitHub Actions through its self-built high-performance computing infrastructure to provide faster, lower-cost CI/CD services for enterprises, now further expanding into developer infrastructure scenarios like AI agents, coding agents, and sandboxes. Its platform enhances software development efficiency via bare-metal servers, caching optimizations, and Docker build acceleration, currently serving numerous enterprise clients including VEED, Supabase, and Ashby, gradually transitioning from traditional CI/CD infrastructure to AI Agent Runtime infrastructure.

Silicon Data focuses on AI Compute market data and financial infrastructure, helping enterprises optimize GPU procurement, cloud computing costs, and long-term infrastructure planning by providing real-time GPU pricing, performance benchmarks, computational market data, and price prediction tools. Its products include GPU Price Index, SiliconMark performance benchmark, and Silicon PriceIQ, and it is further exploring the standardization, indexing, and financialization of AI compute, currently involved in promoting the AI Compute Futures market, with CME planning to collaborate with Silicon Data to launch CPU futures products.

III. New Industry Dynamics

1. Major Industry Events This Week

Superform's final claim date for the $UP airdrop batch was on August 10, where eligible users could claim the airdrop amount calculated based on their on-chain activity, XP, CRED, POINTS, community contributions, etc.; Tokens not claimed before the deadline will be redistributed to the community. Superform is a DeFi / on-chain neobank aimed at ordinary users, providing on-chain financial services such as Swap, Send, Spend, and yield strategies through non-custodial vaults, smart accounts, and other infrastructures.

Velvet issued approximately 2.71 million VELVET Tokens to users participating in the Gems incentive program on August 10; the official disclosed that the value of this round of rewards exceeds $1 million, and the final distribution ratio is primarily determined by the users' rankings on the Gems leaderboard; users can accumulate Gems through on-chain activities like Spot, Perpetual, and staking. Velvet is an Onchain Trading Terminal / DeFAI platform for on-chain traders, combining multi-chain trading, AI research and analysis, wallets, and trade execution to help users discover, analyze, and trade on-chain assets.

HashFlops' Rineium (RIN) conducted its third airdrop on August 12, distributing 2.625 million RIN to eligible HashFlops NFT holders, accounting for 12.5% of the maximum supply. RIN is an ERC-20 utility token within the HashFlops NFT ecosystem, with the airdrop utilizing a decreasing mechanism similar to Bitcoin Halving and the solar eclipse event as distribution nodes; the first two rounds of distribution were completed in October 2024 and February 2026. The project clearly stated that RIN is solely for the HashFlops ecosystem and is not positioned as an investment or security, and it is currently not publicly traded on exchanges.

2. Major Events Coming Up Next Week

Autheo announced it will launch its native MetaDEX Hydrex for the first time on August 20. THEO is the native Token of the Autheo Internet Operating System, used for payments for computing, storage, AI, networking, messaging, and other infrastructure services, and also for validator staking and ecosystem incentives. Autheo launched its Mainnet in May 2026; the official claims that during the testing phase, over 2 million wallets were created, completing 10 million transactions and passing security audits from CertiK and Halborn; the maximum supply of THEO is 7 billion, with an initial circulation of about 5.33% at TGE, referenced at a price of $0.05.

The Interfold plans to officially conduct its FOLD Token Generation Event on August 19, during which FOLD will close a transfer restriction of approximately 40 days following the previous Token Auction and enter a transferable phase. The Interfold positions itself as a Privacy Infrastructure project, focusing on decentralized privacy computing and the Ciphernode network, with FOLD used for node binding, ecosystem incentives, and related infrastructure functions. The project completed a Token Auction from July 8 to 10, with public data indicating August 19 as a key date for FOLD to officially enter a transferable status.

Propr has confirmed its PROPR TGE will take place on August 24, with Tokens commencing on-chain spot trading on Hyperliquid; the project also sets up large-scale community incentives and airdrop mechanisms, with 13% of the total PROPR supply airdropped to XBG stakers at TGE, along with additional rewards for traders and ecosystem contributors. Propr is a Crypto-native Proprietary Trading Platform built on the Hyperliquid ecosystem, allowing users to obtain trading capital through challenge accounts, trading in cryptocurrency, stocks, and commodity perpetual contracts, and achieving transparency in the trading process and profit distribution through on-chain trading and USDC settlements.

3. Important Investments and Financing from Last Week

River AI announced the completion of $1.1 billion in financing, led by General Catalyst and AMP PBC, with participation from NVIDIA, AMD Ventures, Y Combinator, and Temasek. River AI, founded by xAI co-founder Igor Babuschkin, focuses on providing enterprises with AI models and training infrastructure tailored to specific business scenarios, helping clients fine-tune and optimize based on open-source models. The company was previously disclosed in May 2026 as seeking up to approximately $1 billion in financing, with a potential valuation of up to $5 billion; this final financing round reached $1.1 billion, showing substantial capital interest in top AI talent and customized model infrastructure (August 11, 2026).

AI infrastructure startup Trajectory announced the completion of $40 million in financing, achieving a post-investment valuation of $300 million, with Sequoia Capital participating in this round of investment. Trajectory was founded by researchers from tech companies like Google and Apple, primarily assisting enterprises in tailoring open-source AI models according to specific business needs and developing software toolchains to support AI agents' operation, optimization, and continuous iteration. The company emphasizes post-training for models, agent execution environments, and enterprise-level AI model deployment, aiming to reduce the costs of enterprises using and customizing open-source models (August 11, 2026).

AI data infrastructure company Databricks announced it has completed $5 billion in strategic financing, achieving a post-investment valuation of $190 billion. This round was led by Coatue, with participation from Blackstone, MGX, T. Rowe Price, and new investor Sixth Street Growth. Databricks is an enterprise software company focused on data and AI infrastructure, with its core product based on the Lakehouse architecture combining data lakes with data warehouse capabilities, further covering scenarios for data engineering, data warehousing, business intelligence, AI model development, and AI agents. Currently, Databricks serves over 20,000 businesses, including many large multinational corporations, and is transitioning from traditional data analytics platforms to an enterprise-level Data + AI Platform (August 13, 2026).