Newsletter
Tokenized AUM in crypto reaches $280 billion
+ new project listings & product updates
This week’s newsletter covers tokenized assets in crypto — including stablecoins and tokenized funds. Combined, these two asset classes represent $280 billion in AUM.
Let’s dive in!
Total tokenized AUM
Tokenized AUM consists of natively minted stablecoin supply and tokenized fund AUM.
Tokenized AUM by chain
The vast majority (over 90%) of tokenized AUM is still represented by stablecoins vs. tokenized funds.
Tokenized AUM by issuer
While BlackRock is the issuer of the BUIDL money market fund, the fund itself is tokenized by Securitize, a crypto-native company.
Tokenized AUM by asset
The second biggest tokenized asset is USDT on Ethereum, with ~$79.4 billion in AUM. Tether is currently the issuer of ~60% of all tokenized assets.
Tokenized AUM measures the total value of natively minted stablecoins and tokenized funds across all blockchains.
The top two chains by tokenized AUM are Ethereum and Tron, with ~58.7% and ~30.4% market share, respectively. That is, close to 90% of all tokenized AUM resides on these two blockchains alone.
The top 4 stablecoin issuers (Tether, Circle, Ethena, and Sky) hold ~90% market share based on tokenized AUM.
Tether's USDT stablecoin is the biggest tokenized asset. The majority of the AUM for USDT resides on Tron and Ethereum.
Access the charts here.
Stablecoins & tokenized funds
Explore our new dashboard that features stablecoins and tokenized funds. The dashboard is created by Token Terminal Research and the data is updated daily.
Access the dashboard here.
7 new projects are live on Token Terminal
New standardized listings (full listing with up to 15 metrics)
Pendle, a yield-trading protocol on Ethereum, Arbitrum, & 5 other chains.
Reserve, an index provider on Ethereum, Base and Arbitrum.
Raydium, one of the largest DEXs on Solana.
Marinade, a liquid staking protocol on Solana.
Boba Network, an L2 blockchain on Ethereum.
Celo L2, an L2 blockchain on Ethereum focused on fast, low-cost payments.
World Mobile Chain, an L3 blockchain on Base focused on DePIN.
World Mobile Chain has been listed on Token Terminal. The chart shows daily fees vs. MAUs for World Mobile Chain, and is available on Token Terminal Explorer.
Interested in getting listed? Read more here.
Our onchain data is now available on CoinGecko!
Token Terminal’s standardized onchain metrics are now live on CoinGecko! You can find them on every asset page under the Financials section. The first data sets include historical data for fees and revenues, with more metrics to come.
By combining CoinGecko’s comprehensive market data with Token Terminal’s fundamental onchain metrics, we’re setting a new standard for data transparency in crypto.
Looking to integrate our onchain data into your platform? Connect with our partnerships team here.
New ecosystem metrics are live
We’ve added a new set of ecosystem-level metrics to help you understand how the application ecosystems on different blockchains are performing. These metrics capture activity across all applications on a blockchain, and compile the activity into one single metric.
For example:
Ecosystem fees (“GDP”): total fees generated by all applications on the chain.
Ecosystem active users: total monthly active users across all applications on the chain.
Ecosystem total value locked: total value locked (TVL) across all applications on the chain.
Ecosystem active loans: total active loans across all lending applications on the chain.
Ecosystem stablecoin supply: total outstanding stablecoin supply on the chain.
Ecosystem assets staked: total assets staked across all liquid staking protocols on the chain.
How investors can leverage ecosystem metrics:
With these updated metrics, you can now:
Ready to explore?
Head to the new homepage and learn what’s moving the market right now.
Interested in an API demo? Schedule a call here.
Prefer to explore on your own? Check out our API docs here.
The authors of this content, or members, affiliates, or stakeholders of Token Terminal may be participating or are invested in protocols or tokens mentioned herein. The foregoing statement acts as a disclosure of potential conflicts of interest and is not a recommendation to purchase or invest in any token or participate in any protocol. Token Terminal does not recommend any particular course of action in relation to any token or protocol. The content herein is meant purely for educational and informational purposes only, and should not be relied upon as financial, investment, legal, tax or any other professional or other advice. None of the content and information herein is presented to induce or to attempt to induce any reader or other person to buy, sell or hold any token or participate in any protocol or enter into, or offer to enter into, any agreement for or with a view to buying or selling any token or participating in any protocol. Statements made herein (including statements of opinion, if any) are wholly generic and not tailored to take into account the personal needs and unique circumstances of any reader or any other person. Readers are strongly urged to exercise caution and have regard to their own personal needs and circumstances before making any decision to buy or sell any token or participate in any protocol. Observations and views expressed herein may be changed by Token Terminal at any time without notice. Token Terminal accepts no liability whatsoever for any losses or liabilities arising from the use of or reliance on any of this content.
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