Tokenized U.S. Treasuries on Ethereum crossed $8 billion for the first time this week, doubling in just six months, according to Token Terminal data. The asset class, which sat at $1 billion as recently as Q4 2024, has expanded 8x in 18 months. Ethereum itself is trading above $2,300, up 26% year-over-year from its May 2025 level of $1,700–$1,800, and a handful of new projects — including a Bitcoin Layer 2 with Solana Virtual Machine integration — went live or raised capital this week.
Tokenized Treasuries hit $8B
The $8 billion mark is the latest milestone for real-world assets on Ethereum. Token Terminal's data shows the category doubled from roughly $4 billion in November 2025 to $8 billion now. That pace mirrors the broader push by issuers like BlackRock and Ondo Finance to put Treasury bills and bonds on-chain. The growth from $1 billion in late 2024 means the market has added $7 billion in about 18 months.
Ethereum price above $2,300
ETH is trading around $2,300, with CoinGecko reporting daily volume of roughly $20 billion and a weekly recovery of 3%. Immediate support sits at $2,200 — the April 29 low — while resistance is at $2,400 and then $3,000. The all-time high of $4,950 represents a 39% drawdown from the current price. Year-over-year, ETH is up 26%, though it's still well off its 2021 peak.
Bridge stablecoin goes live
This week also saw the launch of Bridge, a stablecoin on Ethereum. Few details about the token's mechanics or backing were disclosed, but the project adds to a growing list of dollar-pegged assets competing for on-chain liquidity.
Bitcoin Hyper raises $32.6M
Bitcoin Hyper, a new project positioning itself as the first Bitcoin Layer 2 with Solana Virtual Machine (SVM) integration, raised $32.6 million in a presale at $0.0136 per token. Early participants are eligible for staking rewards. The project aims to bring Solana's high-speed execution environment to Bitcoin's security, a technical bet that has drawn investor interest despite the crowded L2 landscape.
