Stacy in Dataland (´⊙~⊙`)

Stablecoin supply on HyperEVM has climbed to a new all-time high of $152.4M. The increase was driven largely by USDe inflows following the HyENA launch, alongside continued growth of USDH from Native Markets.

VC vs Community: Where the Real Gains Are. Link. This series doesn’t compare narratives. It pairs community-funded MetaDAO launches with their VC-backed rivals to isolate what actually drives long-term token performance: structure, incentives, dilution, and who captures the upside. To prepare this article, I partnered with Stacy Muur and DL Research – and really appreciate their input and suggestions. Author: Green But Red #article#VC 📱X (Twitter) | 📱Telegram

2025 was the year institutional investors entered the crypto market in earnest. With clearer regulations and a more mature landscape, institutions began treating digital assets as strategic holdings due to their return potential and diversification benefits. EY’s 2025 survey reported that 83% of global institutional investors planned to increase their digital asset allocation within the year.

Large caps are still running the market. The Top-10 dominance has stayed elevated all year, meaning most capital remains parked in BTC and the major L1s. Top-50 and Top-100 are rising as well, showing capital consolidation rather than rotation into small caps.

Interesting fact: more than 90% of all BTC bridge aggregation volume now flows through Rango. Volume is up 84.9% QoQ to ~$943M, transactions up 57% to 1.8M, and daily active addresses up 54%. Solana drives over half of transaction count, while Ethereum leads in notional volume.

Even with the steady growth in 2025, most Bitcoin Treasury companies still hold modest amounts: 147 hold under 500 BTC, while only a few sit between 500 and 2,000 BTC. And then there’s the unmistakable outlier — MicroStrategy, with a massive 660,624 BTC.

Over the past 30 days, Ethereal, Somnia, and Coti stand out as the top chains by perp-DEX volume growth. The surge highlights accelerating activity across their ecosystems.

Leading TradFi institutions — Robinhood, BlackRock, Franklin Templeton, and WisdomTree — have now tokenized more than $800M worth of assets. This includes stocks, U.S. Treasuries, EU government bonds, real estate, ETFs, and commodities. Traditional markets are steadily moving real-world assets on-chain at scale.

After the market correction, Aave is the only DeFi protocol (excluding LST/LRT platforms) still holding over $10B in TVL. Years of liquidity building and a strong track record have become a moat that competitors can’t easily replicate.

Equities and HIP-3 are steadily carving out real market share from the majors. What began as a $24M debut (0.25% of perp volume) grew into a $514M peak (8%+) and has now settled around a consistent ~5%. HIP-3 is emerging as the primary path for bringing tokenized stocks on-chain.

ETH treasuries kept accumulating through November’s price weakness, adding more than 309k ETH last month and over 100k ETH so far in December. Market softness hasn’t slowed down their appetite for ETH.

Since January 2023, the combined Bitcoin holdings of public and private companies have surged from 197K BTC to 1.08M BTC — a roughly 448% increase. Corporate balance sheets are becoming an increasingly important pillar of BTC demand.