Reports
Institutional research and monthly market reports authored at CCData / CoinDesk Data since February 2022.
Protocol Research
Commissioned institutional research on blockchain protocols and infrastructure.
The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region's rules, …
GoPlus Security H1 2026: Execution Security for AI Agents
As AI agents gain the ability to act autonomously with access to data and financial tools, GoPlus Security is reposition…
The Evolution of the Crypto CEX Landscape: A Case Study on Binance
Binance remains crypto's leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and …
Digital Assets: Quarterly Review and Outlook Q2
Digital assets posted a third consecutive quarter of losses in Q2 2026, the longest losing streak since the 2022 bear ma…
Digital Assets: Quarterly Review and Outlook Q1
Digital assets struggled in Q1 2026, driven down by tight macro, geopolitical uncertainty, and weak institutional flows.…
The Definitive Stablecoin Landscape Series: North America
As stablecoins evolve into core financial infrastructure, North America leads. This report maps the regulation, market s…
GoPlus Security H2 2025: Executing Through Market Stress as Web3 Losses Hit $4B
In the second half of 2025, GoPlus Security continued to reinforce its position as a foundational infrastructure layer w…
Digital Assets ETP Landscape: Past, Present and Future
Digital asset ETPs have entered a new phase of institutional adoption, surpassing $250B at their peak as regulatory clar…
KuCoin Hits Record Market Share as 2025 Volumes Outpace Crypto Market
KuCoin cemented its spot among top 10 centralised exchanges by volume. Driven by renewed digital asset interest followin…
GoPlus Security
Launched in 2020, GoPlus Security is a decentralised Web3 security infrastructure designed to provide real-time protecti…
TRON Network
Launched in 2018, TRON is an EVM-compatible Layer-1 protocol focused on financial inclusion and serving as a global liqu…
Bahamut Blockchain: A New Playbook for Validator Incentives
Bahamut is an EVM-compatible Layer-1 blockchain that launched in May 2023, introducing the industry's first Proof of Sta…
Exchange Review
Monthly analysis of centralized exchange trading volumes and market share.
Combined volume fell nearly 24% to $3.76T, the lowest level since November 2023.
Combined volume rose 13.0% to $4.99T, the first monthly increase in five months.
Combined volume fell 3.45% to $4.41T, the lowest level since September 2024.
Combined volume fell 11.7% to $4.61T, the lowest level since September 2024.
Combined volume declined 6.53% to $5.26T; derivatives made up 76.5% of activity.
Combined volume declined 2.41% to $5.61T, the lowest level since October 2024.
Combined volume climbed 2.43% to $5.95T, rebounding after three straight declines.
Combined volume fell 26.4% to $5.79T, the lowest level since October 2024.
Combined volume plunged 24.7% to $7.74T, the largest monthly decline since April 2024.
Spot volume +26.0% to $2.70T; derivatives +25.8% to $7.56T, the highest since Dec 2024.
Combined volume fell 17.5% to $8.12T, the first pullback in three months.
Combined volume rose 7.58% to $9.72T, a new yearly high.
Spot volumes rose 53.7% to $2.2T, highest since Feb; derivatives hit a new yearly high.
Volume declined 22.8% to $6.48tn; derivatives share hit its highest since Sept 2023 (77.8%).
Bitcoin reached new all-time highs, driving a significant surge in trading activity.
Combined volume dipped 0.41% to $6.79tn, the weakest total since October 2024.
Combined volume fell 6.24% to $6.79tn, the lowest level since October 2024.
Combined volume fell 20.6% to $7.20tn, the lowest level since October.
Combined volume fell 20.2% to $9.03tn.
Combined volume rose 7.58% to $11.3tn, a new all-time high.
Combined volume surged 101% to $10.4tn — the first time CEX trading topped $10tn in a month.
Combined volume rose 19.0% to $5.19tn, the fifth-highest month of the year.
Combined volume dropped 17.0% to $4.34tn, the lowest level since June.
Combined volume rose 5.38% to $5.22tn.
Combined volume rose 19.0% to $4.94tn, the first increase in four months.
Combined volume fell 21.8% to $4.22tn, continuing the decline from March's $9.05tn peak.
Combined volume fell 20.1% to $5.27tn ahead of spot Ethereum ETF approval volatility.
Combined volume fell 43.8% to $6.58tn on macro headwinds and negative Bitcoin ETF flows.
Combined volume rose 92.9% to a new all-time high of $9.12tn as Bitcoin hit record highs.
Combined volume rose 2.28% to $4.73tn as Bitcoin neared new all-time highs.
Spot volumes rose 4.45% to $1.40tn (4th straight rise) though combined volume dipped.
Combined volume rose 28.4% to $4.68tn, the highest level since June 2022.
Combined volume rose 40.7% to $3.61tn, the highest level since March 2023.
Combined volume rose 53.0% to $2.57tn, the strongest growth since Jan 2021.
Combined volume fell 20.3% to $1.67tn, the lowest level since Dec 2022.
Combined volume fell 11.5% to $2.09tn, a new low for the year.
Combined volume fell 12.0% to $2.36tn, the lowest so far in 2023.
Combined volume rose 14.2% to $2.71tn, the first increase since March.
Combined volume fell 15.7% to $2.41tn, a second consecutive monthly decline.
Combined volume fell 27.9% to $2.77tn — the first monthly decline of 2023.
Derivatives volume rose 32.6% to $2.77tn, an all-time-high 72.7% share of the market.
Binance's spot market share reached an all-time high of 61.8%.
BTC/ETH rose 39.9%/32.7%; spot volumes surged 57.9% to $860bn.
Spot volumes collapsed 48.4% to $544bn, the lowest level since 2019.
Spot/derivatives volumes rose 13.7%/10.1% amid FTX-collapse panic selling; Binance hit a 52.9% share.
Spot volume fell 25.4% to $929bn, lowest since Oct 2020; Binance held 42% share as Coinbase overtook FTX.
Top-tier exchanges hit 93.6% of spot volume, highest since Nov 2017; Binance reached $541bn (+23.5%).
Spot trading jumped 36.8% to $1.91tn; derivatives share fell to a yearly low of 62.4%.
Spot volumes hit their lowest point since Dec 2020; AAX became the 2nd-largest exchange with $57.2bn.
Combined volumes fell 15.2% to $4.16tn, the lowest since Jan 2021, amid Terra/lending-platform contagion.
Spot volumes surged 13.6% to $1.97tn amid TerraUSD-collapse volatility; FTX overtook OKX and Coinbase.
Spot volumes rose 10.5% to $1.62tn; Binance captured over 30% of spot volume ($490bn, +15.7%).
Spot volumes fell 12.9% to $1.57tn and derivatives 15.9% to $2.64tn amid rising risk-averse sentiment.
Stablecoins Report
Monthly analysis of stablecoin market capitalisation, volumes, and regulatory developments.
Stablecoin market cap rose 1.29% to $313bn as stablecoin trading volume topped $1T for the first time since March.
Stablecoin sector market cap rose 1.19% to $311bn — the first monthly increase in three months.
Tokenized-asset market cap surged 11.5% to $32.1bn, the highest month-end level on-chain.
Tokenized-equities on-chain volume hit a new all-time high, +145% to $3.86bn.
Market hit a new all-time high, +1.63% to $321bn, driven largely by Tether growth.
Market hit a new peak of $317bn; Sky Protocol's USDS surged to $8.38bn.
Market rose 0.98% to $309bn.
Market expanded for a 2nd straight month, +0.14% to $308bn; USDT posted its first decline in 29 months.
Market resumed growth after November's dip, +1.25% to $310bn.
Market cap fell to $303bn — the first decline in over two years, ending 26 months of growth.
Market cap hit a new all-time high, +3.64% to $308bn.
Market cap reached $293bn after 24 months of continuous growth; Tether's dominance is eroding.
Market cap hit a record $278bn.
Market cap reached a new all-time high, +4.87% to $261bn.
Market cap climbed to $251bn on record growth; active stablecoin count nearly doubled YoY post-GENIUS Act.
Market cap hit a new all-time high, +2.27% to $246bn; USDT topped $150bn for the first time.
Comprehensive update on market cap, volumes, peg deviations and regulatory developments.
Market cap rose 3.62% to $231bn — an 18th straight increase.
Market cap rose 4.02% to $226bn — a 17th straight monthly increase.
Market cap hit $215bn — a 16th straight increase; USDT reached an all-time high of $140bn.
Market cap topped $200bn for the first time, rising 5.51% to $203bn.
Market cap hit $190bn — a 14th straight increase, surpassing the April 2022 peak.
Market cap rose 0.05% to $173bn — a 13th straight monthly rise; USDT held 69.6% share.
Market cap rose 1.50% to $172bn — a 12th straight increase.
Market cap rose 2.89% to $169bn — an 11th straight monthly increase.
Market cap rose 2.11% to $164bn — a 10th straight increase.
Market cap rose 0.53% to $161bn — nine months of growth, highest since April 2022.
Market cap rose 0.63% to $161bn — an 8th straight rise, highest since April 2022.
Market cap rose 4.76% to $158bn — a 7th straight rise, highest since May 2022.
Market cap rose 4.24% to $147bn — a 6th straight monthly rise, highest since Sept 2022.
January trading volume hit a record $1.04tn; USDT held 75.3% share of the top-10 stablecoins.
Market cap rose 2.45% to $134bn, highest since Feb 2023, after US spot Bitcoin ETF approvals.
Market cap rose 0.9% to $129bn; November added $4.25bn in supply, the largest monthly rise since Feb 2022.
Market cap fell 0.14% to $124bn — a 19th straight month trending down.
Market cap held at $124bn — an 18th straight month of decline.
Market cap fell to $124bn, the lowest since Aug 2021 — a 17th straight month of decline.
USDT hit a new all-time-high market cap of $83.8bn, roughly two-thirds of the sector.
Stablecoin trading volumes fell 10.0% to $414bn, the lowest since Dec 2022.
Stablecoin trading volume grew 13.6% to $775bn amid multiple depegging events.
Market cap fell 1.34% to $133bn, lowest since Sept 2021; trading volume rebounded to $51.9bn.
Market cap hit its lowest level since Sept 2021, -0.68% to $136bn — an 11th straight month of decline.
Market cap peaked at $188bn on Apr 2, 2022; report covers trends by collateral type and pegged asset.