Blockworks

Over 11% of Bitcoin's circulating supply is held by treasury companies and ETFs.

Open interest on Trade[XYZ] just hit an ATH of $1.2B.
Open interest on Trade[XYZ] is up 446% since the start of 2026.
Hyperliquid

There is over $950b of open interest on tokenized stocks across centralized exchanges, up 3x in 3 months

The trend is clear.
DeFi is not just here to stay.
DeFi is here to disrupt.

Of the lending protocols we currently track, Fluid consistently has the highest loan-to-deposit ratio, typically ranging between 40-50%.

There are 130+ Bitcoin related ETPs live today.
Many new products run complex strategies to alter the return profile, such as 2x exposure, short, or covered calls.
However, 95%+ capital resides in products offering simple, directional exposure. Simplicity wins!

Katana’s circulating stablecoin supply reached a new ATH last week, peaking at just over $500M.

Stablecoin interest rates in DeFi are at their lowest-level since June 2023.

Polygon's stablecoin supply continues to climb, reaching an ATH of roughly $3.4B in February.

Ethereum has notched two straight months with over $1B in tokenized gold trading volume.
Over 90% of this spot volume is settled on @uniswap.

Crypto ETPs saw inflows rebound in February after a record amount of outflow in January.
The top three assets by inflows were:
- BTC ($258m)
- SOL ($4.3m)
- XRP ($3.6m)