Token Terminal Shifts Focus to Stablecoins and Tokenized Assets

Token Terminal, known for its blockchain protocol revenue and usage metrics dashboard, has shifted focus to tracking tokenized assets. The 'Tokenized Assets' page now covers over 4,600 assets across 310 issuers and 45 chains, a 15x expansion from launch in November 2025.

The platform's 'asset-first' model tracks market cap, holder counts, and transaction data for each tokenized asset individually. Stablecoins account for around $300B of the total market cap of approximately $345.6B, with Tether's USDT dominating the landscape at roughly 60% market share.

Token Terminal rolled out dedicated RWA dashboards in May 2026 and redesigned issuer pages on June 18, 2026, to cater to growing interest in tokenized assets. With over 270.9 million holders of tokenized assets across its coverage universe, the platform is positioning itself as a leading analytics provider for this market.