By Allium Research

State of Onchain Finance Q2 ’26

Blockchain is no longer just a venue for crypto speculation. It is becoming infrastructure for financial markets.

Inside, we cover stablecoin activity after filtering out noisy volume, the rise of tokenized US Treasury and money-market funds, the growth of spot and perpetual equity exposure, onchain price discovery before SpaceX listed, the weekend advantage when traditional venues are closed, and prediction markets clearing billions in monthly volume.

The throughline is simple: finance is moving onchain as a stack: dollars, then yield, then asset exposure, and now information itself.

Informational only. Not investment advice.

By Elton Shehdula, Research Lead @Allium Labs

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