Market Analysis / Research

Market Analysis / Research | May 20, 2026

Rebuilt in public: how the financial system looks today

Map of the parallel financial system being built on public blockchains - from lending markets and repo auctions to institutional loan books.

Market Analysis / Research | May 14, 2026

Not all dollar stablecoins carry the same risk

Crystal Foresight profiles nine $1B+ stablecoins through volume fingerprints and counterparty data, revealing risk profiles that market cap hides.

Market Analysis / Research | April 30, 2026

Stablecoin settlement quality bifurcates as USDT crosses 50% organic share

USDT crossed the 50% organic share threshold while USDC remained DeFi-driven. Crystal Foresight examines how stablecoin settlement quality split

Market Analysis / Research | April 23, 2026

How $1.77 trillion in stablecoin volume splits across three markets

Only 22% of $1.77T in weekly stablecoin volume is real - USDT, USDC, and USDS now serve three distinct markets.

Market Analysis / Research | April 16, 2026

Six stablecoins worth $26B have 89% supply concentrated in 10 addresses

Six stablecoins hold 89%+ supply in 10 wallets as transfer activity declines. Analysis of concentration risk and market health implications.

Market Analysis / Research | April 9, 2026

Only 26% of stablecoin volume is genuine

Our weekly analysis of stablecoin settlement quality, supply dynamics, and organic share volatility across 27 tracked assets.

Market Analysis / Research | April 2, 2026

Settlement swings across eight stablecoins

Eight stablecoins shifted over 5pp. USDT and RLUSD drove real settlement; USDS grew supply without payment use.

Market Analysis / Research | March 26, 2026

Stablecoins are splitting into money and collateral: what the data shows

Crystal Foresight data breaks down which stablecoins function as money and which serve DeFi infrastructure.

Market Analysis / Research | March 10, 2026

USDC is minting billions, but users aren’t there yet

USDC minted $1.5B for two straight weeks, but organic share unchanged. Crystal Foresight shows if supply meets real user demand.

Market Analysis / Research | March 4, 2026

Most stablecoin volume data is not what it seems

Crystal Foresight's weekly stablecoin update separates genuine user activity from issuer operations across 18 assets. The data tells a different story

Market Analysis / Research | February 24, 2026

Why stablecoin transfers are cooling as alternatives surge

Major stablecoins face transfer declines as alternatives gain momentum. USDT drops 21%, USDC falls 13%, while USD1 rises 67% to $104.9M daily.

Market Analysis / Research | February 18, 2026

FDUSD surges 388% as stablecoin transfers decline

Major stablecoins show 20-33% transfer declines while FDUSD surges 388% week-over-week. Market rotation signals shift toward alternative stablecoins.

Market Analysis / Research | February 9, 2022

Largest crypto exchanges by volume