The stablecoin market is estimated at about $318B-$322B, a scale described as larger than the official FX reserves of 95 countries. Hyperliquid L1 holds $6.79B in stablecoins, including $1.04B added over seven days, with USDC representing 95.3% of supply. Total tokenized asset value is cited at roughly $350.6B, led by stablecoins at $308.6B alongside tokenized funds ($32.9B), commodities ($7.4B), and stocks (over $1.7B).

Bitcoin has been declared "dead" 472 times since 2011, spanning market cycles from prices near $0.11 to above $117,000. While BTC was around $74,773 at press time (down about 1.39%), trading activity has been increasing in smaller altcoins outside the top five assets, suggesting some rotation during a slower market.

Ethereum holders are increasingly moving ETH into staking, with the staked share rising to a record 32.4%. Exchange-held ETH has also dropped sharply from above 33 million ETH in 2021 to about 14.9 million ETH, leaving a smaller portion readily available for trading.

Ethereum has lagged Bitcoin in 2026, with the ETH/BTC pair down close to 20% year-to-date, a sign the market remains tilted toward BTC. Bitcoin dominance was about 60.6% at the time of writing, while both Bitcoin and Ethereum spot ETFs posted weekly net outflows of roughly $1.26 billion and $216 million, respectively.

Tether has filed seven trademark applications in South Korea's KIPRIS database, including KRWT and WONTETHER, prompting market speculation about a KRW-linked stablecoin. The filings sit under Classification 09 and also include marks tied to XAUT, QVAC, USDT0, USAT, and Tether's shield logo, while the company has not confirmed any launch plans. Separately, Tether International took full control of Twenty One Capital after buying SoftBank Group's stake; the firm holds more than 43,500 BTC (around $4 billion), and the deal value was not disclosed.

Ethereum’s active RWA market share declined from 93.4% at the start of 2025 to 61.1% by the end of Q1 2026, even as it remains the largest chain by RWA market cap at about $18.7 billion. The shift coincides with more tokenized-asset activity spreading to other networks and with the Ethereum Foundation signaling plans to reduce its relative influence over time.

Hyperliquid's HYPE Spot ETFs opened with strong early demand, with purchases running about 2.5x the Assistance Fund's daily buy-and-burn over the first six trading sessions. Futures indicators also pointed to buyer-led activity, while volume conditions were described as cooling despite HYPE's continued rise. The sixth session marked the biggest ETF inflow so far, putting focus on whether demand can persist beyond the initial launch window.

Japan's SBI Holdings is reportedly working on Bitcoin and XRP ETF proposals for the Tokyo Stock Exchange, pending regulatory approval. Separately, Binance flow data over the last 7 days showed XRP withdrawals at 51.5% versus deposits at 48.4%, as XRP traded around $1.37 after pulling back from the $1.50 area.

XRP has shown signs of retail participation returning as trading activity from smaller traders increases and price recently moved above $1.5 before easing back. On-chain indicators also strengthened, with XRP Ledger logging 48,453 active wallets and 3,317 newly created wallets, both at their highest levels since late March.