Most people looking to benefit from tokenization are focused on issuers and DEXs.
Lending protocols deserve attention too, as holders deposit these assets and use them as collateral for permissionless borrowing.
@base crossed $30M in tokenized equity supply yesterday, with $1.8M already deposited in Aave V4.
I expect both figures to keep climbing over the next few months.
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The basis trade is already back to 20% of USDe’s backing. Expect that share to rise gradually as this rolls out.
Incredibly bullish for Ethena.
It's so hard to find quality data in crypto. Having both depth and breadth in one API means you can build and analyze way faster.
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The ETP angle is particularly interesting to me. Imagine issuers like @21shares or @Bitwise showing the fundamentals behind tokens to the TradFi crowd: revenue, usage, valuations, etc. So much more useful than just price or market cap charts.
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Don’t sleep on the @aave App.
Balances doubled in the last week to $9M as access gradually opens up.
Less than a month into early access, there are already 1,070 funded wallets, including 27 with $100K+ balances.
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Crypto’s reflexivity never ceases to amaze me. Price rises, the protocol captures attention, users try the product, and improving fundamentals reinforce the narrative.
Last week, DRV gained roughly 176% while Derive recorded an all-time high of $1.26B in options volume, up 75% week over week and 53% above the previous record.
Importantly, activity was already accelerating before the latest price breakout, as I highlighted in the report below.
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Seven straight weeks of net mints for @ethena’s USDe.
Another $282M in net inflows last week brought supply close to $4.9B.
The $7.5B threshold for ENA buybacks is closer than people think imo.
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Six straight weeks of net mints for @ethena's USDe, with supply now at $4.6B.
Slowly climbing back toward levels seen before the Aave-Kelp incident.
Record week for @EthenaPay: $490k in card spend, nearly double last week.
200 new active accounts this week, bringing the total to 656.
Native's model is interesting.
Instead of LP capital quoting against an AMM curve and taking IL, assets are supplied single-sided and extended as credit to market makers on Native’s order book.
1/ Tokenized equities are moving onchain fast.
Spot volume increased more than 100x in six months and briefly approached 20% of total spot DEX volume.
Our latest report examines the market structures needed to scale this activity and @native_fi’s approach.
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One of the hardest parts of investing or building in crypto is simply keeping up with everything happening across the assets and protocols you care about.
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NEW: Introducing Agentic Detection, asset monitoring built for the AI era.
Following our acquisition of Messari, we are excited to release our first major product expansion.
Agentic Detection brings real-time alerts to Blockworks Monitoring without waiting for analyst review. Teams get broader coverage of the assets they follow, with findings in seconds instead of minutes.
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Pump is now back in the lead at 65% of Solana trading volume on @fomo, while Stonk's share has dropped under 30%.
Tokens launched on Stonk now account for ~50% of Solana trading volume on @fomo.
Seeing a lot of Derive talk on the timeline. If you’re digging into it, this report is a good place to start.
The DRV thesis comes down to three things:
- BTC & ETH market share. Continuing to take options market share from Deribit.
- Asset expansion. More HYPE-like success stories. The pool of assets suited to options is small, but RWAs like XAUT make sense and can bring in users who eventually trade BTC & ETH too.
- Distribution. Broker, builder, and institutional integrations remain underdeveloped. Growth through these channels could reduce reliance on a small direct taker base and offer a faster path to scale.
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Robinhood Chain generated $8M in REV last week, down 74% week over week.
Spot volume fell only 25%, while median fees dropped to $0.06 from $0.18 the week before.
Six straight weeks of net mints for @ethena's USDe, with supply now at $4.6B.
Slowly climbing back toward levels seen before the Aave-Kelp incident.
Hyperliquid, Robinhood, Lighter, Ethena, Kraken… the DAS Asia lineup is stacked.
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Ticket prices increase next Friday Sep 25th
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PUMP has been the most popular non-SOL quote token on Pumpfun so far, accounting for 16% of bonding curve volume yesterday.
Didn't take long.
Stonk's share of non-SOL bonding curve volume (including stocks) is down to only 30% vs Pump following the holder rewards rollout.
Robinhood Chain hit a new all-time high of $531M in daily perps volume yesterday.
- @Lighter_xyz: $435M volume, $350M OI
- @arcus_xyz: $96M volume, $17M OI
Active loans across @aave V4 hubs have surpassed $250M.
Including partner-operated instances (Tydro and EtherFi), total active loans now exceed $320M.
