CoinFound Stablecoin Weekly Report: Key Insights from the Past Week in the Cryptocurrency-Related Stock Submarket

Article author, source: CoinFound

(1) Stablecoin supply

(2) Market Dynamics Review

Spark Strategy Lead: Risk spillover from the rsETH security incident intensifies; DeFi market may face a cascading liquidation crisis.
Aave has seen $10.1 billion in outflows, reducing total deposits to $35.7 billion.
The minting and rebalancing of eUSD and USD3 have been temporarily suspended; redemption functions remain active via Reserve.
The Hong Kong Monetary Authority has officially granted the first stablecoin licenses to HSBC and Anchor Financial, led by Standard Chartered.

Between April 13 and April 20, 2026, the stablecoin market exhibited characteristics of “slight growth, structural divergence, and deeper compliance.” The global stablecoin market cap reached $326.02 billion, rising 0.48% week-over-week. Although on-chain activity (down 13.96% in active addresses) and trading volume (down 4.80%) experienced short-term contraction, the cumulative number of holding addresses continued to grow (+0.69%), indicating a transition from short-term speculation toward long-term holding and payment infrastructure adoption. Market focus has shifted from “pure on-chain speculation” to “competition for regulatory advantages.” As regulatory frameworks become clearer, capital is expected to continue migrating over the coming weeks toward newly emerging stablecoin assets with strong regulatory backing and well-defined yield models. (Source: CoinFound)

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