New Highs, New Narratives

Happy Friday, TM Family!

Welcome to the Token Metrics Research | Daily newsletter, where we cover key market movements, regulatory updates, and early alpha for our readers and investors. 

Let's dive in! 

Today's edition of Token Metrics Research | Daily Newsletter is brought to you by Pacaso.

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Now let's get back to the top stories of the day.

Solana’s DeFi TVL hit a fresh all-time high around $12.2B, reinforcing a bullish setup as memecoin volumes and dApp activity climb; price action has tracked the TVL surge with multiple outlets flagging a breakout structure toward prior highs and a potential run at $300 if momentum holds.

Multicoin Capital’s Kyle Samani touts Solana’s potential to hit a $1T valuation, citing its edge in internet capital markets and DeFi innovation. Galaxy Digital boosts this surge, acquiring a $500M $SOL treasury to bolster its validator network and DeFi offerings

With on-chain activity surging 40% in the past month and institutional flows strengthening, Solana’s resurgence ignites investor interest. The time to stack $SOL is now.

The buzz around humanoid robotics is deafening, spilling into crypto markets. Industry titans predict humanoids will become one of the largest industries ever, with over half of investors still skeptical. This doubt is fading fast, with projections of a $38B market by 2035, driven by demand in manufacturing, mining, and disaster rescue.

Crypto’s role emerges as robotics firms embrace blockchain for funding and payments, with 47% of service providers now accepting cryptocurrencies. Coins like $AUKI, tied to autonomous navigation demos at WOW Summit, hint at untapped investment potential, while $PEAQ, a layer-1 blockchain powering the Machine Economy, supports over 50 DePINs.

Notably, CoinGecko added a new category “Robotics” on its platform, with the sector’s market cap now over $300, reflecting a 9.5% increase in the last 24 hours and a 15% gain over the past week. The humanoid-crypto crossover is here—seize the opportunity.

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Now, let's continue with the TM Daily.

Real-world assets are re-accelerating: sector tokens are near a $76B market cap while on-chain tokenized assets reached a record  $29B, led by private credit and U.S. Treasuries—and anchored by flagship funds like BlackRock’s tokenized products on Ethereum.

Ondo’s push is emblematic of the shift, launching over 100 tokenized U.S. stocks and ETFs on Ethereum via Global Markets and lifting ONDO as TVL and market access expand across non-U.S. regions, with plans to extend to Solana and BNB Chain.

Animoca’s framing of a $400T TradFi addressable market underscores the runway, with interoperability and Ethereum’s share positioning the stack for sustained institutional adoption into 2025.

Ethereum on-chain activity has pushed to records, with daily smart contract calls surpassing 12 million and staking climbing past 36 million ETH, tightening float as network throughput and fee revenue expand the settlement-layer thesis.

This on-chain strength has paired with accelerated institutional flows, with ETH outperforming amid expectations of a September Fed cut and renewed accumulation from larger players, helping ETH challenge prior highs and reprice toward the $4.5k - $5k band.

Exchange inflows have eased since early September, reducing spot-side sell pressure and aligning with the “dual engine” narrative highlighted by on-chain analytics coverage.

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That's all for today. Let's talk tomorrow.