Signals
Data-driven insights and charts on trends shaping digital assets.
Amid ongoing debate about Ethereum's roadmap and the role of L2s, the rollup-centric model has materially reduced execution costs while expanding throughput.
L2 fees have collapsed. As of January 2026, a standard transfer on Arbitrum costs ~$0.002 — down over 1,400x from 2022. Dencun (Mar '24) was the structural inflection, compressing L2 fees ~94% in subsequent months.
L1 fees have also declined. A USDC transfer on Ethereum mainnet now runs ~$0.25, with Fusaka (Dec '25) increasing gas limits and reaccelerating L1 activity (+47% in daily transactions post-upgrade).
Sub-cent fees on L2s unlock use cases that were previously uneconomical: micropayments via x402 protocol, day-to-day stablecoin payments, and AI agents transacting on behalf of users at machine speed.
Latin America is one of the fastest growing regions for mainstream crypto adoption.
Stablecoins lie at the center, establishing a low cost and accessible financial layer for USD savings, remittances, and payments.
Regional crypto inflows are approximated at $800B-$1.2T in 2025 (+38-107% YoY).
Mobile-first fintech leaders such as Lemon (5M+ accounts), Felix (40k+ payout locations), and MB | Mercado Bitcoin (4M+ accounts) are driving mainstream usage across key markets.
In Argentina alone, 12.5% of the population is now interacting with crypto.
Tokenized gold had a record year in adoption: supply grew +155% YoY and holders grew +65% YoY.
Nearly 700k oz of gold were newly tokenized across PAXG and XAUt, lifting total on-chain supply to 1.15M oz — about ~0.016% of above-ground gold — and market cap to $5.4B (+332% YoY), demonstrating demand for blockchain-native gold exposure beyond speculative price action and signaling a broader trend of hard-assets moving on-chain.
Monthly trading card volume increased ~15x YoY in 2025 as tokenized Pokémon and sports cards gained mainstream traction across platforms like Courtyard, Collector Crypt, and Phygitals.
Today, over 5M cards are tokenized and traded on chain.
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