1/6 🧵New Coin Metrics Weekly State of the Market Report Digital asset markets cooled off after briefly topping $4T in total market cap, with $BTC, $ETH, $SOL, and $XRP pulling back from recent highs. Full breakdown from @coinmetrics – link in replies. Highlights: – The GENIUS Act was signed into law, setting a new U.S. regulatory standard for stablecoins: 1:1 backing with Treasuries or cash, third-party attestations, and federal-state oversight. – @Tether_to announced a new U.S.-focused stablecoin to comply with GENIUS, targeting institutional payments and banking infrastructure. – @Anchorage announced it will bring @ethena_labs’ offshore-issued $USDtb onshore, using its federally chartered crypto bank to meet GENIUS compliance. – @BitGo confidentially filed for a U.S. IPO after surpassing $100B AUC. Meanwhile, @Bullish filed to raise $100M for a NYSE listing. – @Jito_Labs launched its Block Assembly Marketplace (BAM) on Solana, enhancing block fairness and reducing MEV with encrypted ordering and TEEs. Read the full report for data-backed insights into how crypto’s regulatory, institutional, and technical layers are evolving.

2/6 Current Cryptocurrency Market Cap. Total MC continued rising, closing at $3.88T mid-week up from $3.79T the prior week. $BTC’s Market Cap returned to $2.36T midweek after hitting new all-time highs, while $BTC dominance continued to decrease to 60.8% from 62.2%. CM State of the Market >>

3/6 7-day week-over-week change in top cryptoasset prices based on @coinmetrics Reference Rates. $DOGE (+13.68%), $SOL (+8.32%), $AVAX (+5.31%), $LINK (+4.92%), and $ETH (+4.71%) led the week’s gainers. Other notable movers: $ADA (+1.08%), while $BTC (-0.88%), $TRX (-2.16%), and $XRP (-3.99%) saw modest pullbacks. CM State of the Market >>

4/6 Digital asset sector performance was broadly positive last week across categories tracked by @coinmetrics. Intermediated finance (+10%) led the gainers, followed by application utilities (+8.7%), claim tokens (+7.2%), smart contract platforms (+6.7%), tokenized assets (+4.9%), specialized coins (+4.4%), business services (+4.4%), media services (+3.2%), and decentralized finance (+3.7%). Other movers: stablecoins (+2.0%), information technology (+0.85%), blockchain utilities (+0.30%), and value transfer coins (+0.0078%). Metaverse (-0.081%) was the only sector to post a week-over-week decline. CM State of the Market >>

5/6 Crypto markets advanced last week, with gains seen across a broad set of assets. Of the 1,246 assets tracked by @coinmetrics, 1,009 advanced while just 237 declined. Advancing volume totaled $522.6B, far outweighing declining volume at $28.6B - a strong signal of sustained bullish momentum. In derivatives markets, $BTC long liquidations peaked early in the week before giving way to greater short liquidations as prices rebounded. CM State of the Market >>

6/6 On-chain activity was mixed across major crypto networks, according to @coinmetrics network data. $FTT (+25.81%), $UNI (+20.15%), $ETH (+3.60%), and $LTC (+0.82%) all showed increases in active addresses. Declines were seen with $BCH (-28.33%), $XRP (-26.28%), $ADA (-17.41%), $CRO (-15.75%), $BTC (-8.98%), and $LINK (-1.84%). CM State of the Market >>