1/9 RWA Report 2025 — Thesis #1:

U.S. Treasuries proved the product–market fit for tokenization. They set the credibility + liquidity base for everything that followed.
dune.com/rwareport2025 2/9 @BlackRock’s BUIDL grew to ~$2.2B since Mar ’24, becoming the largest tokenized asset and a key adoption catalyst.

1/ 🎉 XRP Ledger (XRPL) is now on Dune!

The iconic, fast, low-cost, and decentralized blockchain with 10+ years of uptime is now fully queryable.

Let's check it out!
dune.com/blog/xrp-ledge… 2/ XRPL is one of the most iconic and battle-tested blockchains, active since 2012 and resilient through every market cycle and wave of innovation.

📈 4B+ total transactions
⏱️ Daily TXs grew from ~50K in 2013 to over 2.2M in 2025
💸 14M+ XRP paid in total TX fees

⁉️ We use wallets daily, but how much do you know about them?

👉 New 70-page Report — Crypto Wallets 2025: An Anthology

💳 20+ wallets, data across 100+ chains
📔 From tech-stack to adoption data, we cover it all
㊙️ Secret bonus at the end

Download: dune.com/crypto-wallets 2/ 🌐 Wallets are crucial in blockchain ecosystems, handling onboarding, complexity, and tasks like swaps, staking, governance, and social interactions.

Despite their importance, wallet activity is underexplored.

This report aims to change that by mapping data on EOA wallets, smart accounts, emerging players, and infrastructure, with geo data from @addressableid.

1/ Stablecoins are reshaping finance 🏦

Explore all insights, market trends, asset deep dives, and more in "The State of Stablecoins 2025"— a comprehensive report by Dune & @artemis

Link at the end of the thread 🧵 2/ At February '25, stablecoins have reached $214B in supply, facilitating an astounding $35T annual transfer volume—doubling @Visa's annual throughput. Active addresses jumped 53%, reaching 30M.

Institutional adoption is accelerating rapidly, bridging TradFi and crypto like never before.

Our mission is to *make crypto data accessible*

Today we’re excited to announce some major progress:

- The Dune API live for all users
- Revamped subscription plans
- More power for free users

Flexibility & collaboration is going ⬆️⬆️⬆️

Here’s how 🧵 The most requested feature *ever* is…..

The Dune API

Now, it’s live and open to all

Wizards on *any* plan - free or paid - can now turn any query result into an endpoint

The data will flow like never before

Last week, we saw some crazy new dashboards 📊

🧙‍♂️

The top 10 👇 1/ $USDT Approval/Liquidity Mining Scams

🧙‍♂️ @tayvano_

dune.com/tayvano/sha-zh…

Excited to announce....... 👀

We’re officially launching Dune SQL - our brand new, homegrown, default query engine 📊

It’s specifically tailored for crypto data, & will be the foundation of a faster, more powerful, more usable Dune 🧙‍♂️

🧵 We released it in Alpha in early December

Since then, it has become Wizards’ #1 choice, the most popular engine on Dune

Wizards know what’s good 🧙‍♂️

LLMs are going to transform countless careers, including those of Dune Wizards 🧙‍♂️

We're excited to announce our first GPT4 powered feature - Query Explanations - and to share our LLM roadmap for the future

🧵

dune.com/blog/llm-roadm… Have you ever looked at a 500+ line SQL query and wondered…. “What????”......

Well, we have you covered

Just head into the query you’re interested in and click on the new little button at the bottom below that previously intimidating SQL code 🖱️

Let's review a crazy year for crypto

22 trends of 2022

By 🧙‍♂️, for 🧙‍♂️

🧵

community.dune.com/blog/22-trends… 1/ ETH Staking

2022 will go down as the year of The Merge

Data from @hildobby_ shows that over 7m $ETH was staked in '22, with validators growing by 215k+

15.84m $ETH is now staked, 13.14% of total supply

Congrats on a successful merge 🥂

dune.com/embeds/609518/…

2022 isn't over yet

You've still got a few weeks to level up as a Wizard 🧙‍♂️

Join @agaperste & @andrewhong5297 for 12 days of Dune

Finish the year with some data magic and 12 increasingly challenging queries on Uniswap v2 🦄

This is going to be 🧠 Here's a video covering all the details & how to prep

How do you measure a protocol's success *within* a network?

In this article, @frankmaseo introduces a great metric to add to your analytical toolbox:

Network Penetration

Let's explore🧵

dune.com/blog/network-p… Network penetration measures the share of total wallets on a network that have interacted with a given protocol 📈

We work out the ratio by measuring the number of wallets that interacted with a protocol versus the total amount of wallets on the network 🧙‍♂️

Ever looked at a list of addresses on Dune and thought..... So what?

Who are they? What's their story? Why should I care?

If so - you're in luck

Labels are going to give addresses a whole new meaning, and now they're live on V2 🏷️

Let's take a tour 🧵 Traditionally when you query, any field referring to an on-chain actor will return their raw address

Those beautiful hexadecimal encoded strings we all know and love

But what if we want to know more than the address and what they did in this instance?

The Merge is coming.....

Here are the top dashboards to follow the action 🍿 1/ Ethereum The Merge

By @SixdegreeLab

dune.com/sixdegree/ethe…

We shipped Teams less than 2 months ago 🫂

Since then, more than 170 Teams have formed - of all shapes and sizes 🧙‍♂️

We're excited about how Teams is evolving, & @afletsas wrote an interesting article explaining why.....

Summary + top team dashboards 🧵

dune.com/blog/dreamwork Teams are Dune's shared workspaces

🧙‍♂️ can now easily collaborate, publicly or privately, under a shared identity

Teams have their own dedicated profiles, showcasing all their shared creations

Check them out: dune.com/browse/teams

Introducing Spellbook 🪄🪄🪄

Spellbook is a new, shared foundation for crypto analytics 🧙‍♂️

dune.com/blog/spellbook Back in early 2020, we launched the abstractions Github repo

We wanted Wizards to create reusable views & tables - instead of copying and pasting between queries 😬

Since then - we've had 300+ contributors and almost 1k commits 🔥

It's building season and we have a real treat for you

🧙‍♂️

Excited to announce......

Avalanche data is now LIVE on Dune Engine V2 🎉 As you know - we’re out to make crypto data accessible

With its innovative design and legions of users and fans, that had to include @avalancheavax data sooner or later

Now, it’s 🧙‍♂️ time…..

StepN was hitting highs of 40k+ daily users in late May

This has now dropped to <10k for the past several weeks on Solana

dune.com/embeds/588826/… Deposits and withdrawals also dipped and flatlined since late June:

dune.com/embeds/588572/…

Hyped to have @arbitrum data live 🎉

Wizards have been busy investigating the Arbitrum ecosystem for the past few weeks..... so let's take a look!

🧙‍♂️🧙‍♂️🧙‍♂️

The top 10 Arbitrum dashboards so far 🧵 1/ Arbitrum Overview by @superamscom

Great high level overview of the platform!

- 20.17M transactions
- 983k accounts
- 36k contracts

Tons of data inside 👇

dune.com/springzhang/ar…

Very excited to announce.....

TEAMS 🫂

Now Wizards can work together and collaborate on queries and dashboards like never before!

Find out how 👇

dune.com/blog/teams-lau… A Team is a shared workplace, with its own profile and content, for collaborating under a shared identity

Personal work will be kept separate, and you can easily access team projects through My Creations!

User Roles - viewer, editor & admin - add even more flexibility

What about NFTs on Optimism?

A recent dashboard by @drakedanner gives some interesting stats:

dune.com/danner_eth/NFT… The two marketplaces analyzed are @quixotic_io and @tofuNFT

On Optimism, Quixotic is way ahead in terms of volume at $1.7m

dune.com/embeds/862583/…

*Extremely* excited to announce

Dune Engine v2

It's a complete overhaul of our entire data architecture, a massive performance upgrade

Dune 🧙‍♂️ are about to get a lot more powerful.....

🧵

dune.com/blog/Dune-Engi… The Dune community is getting a whole new dataset explorer that will enable:

- 10x speed, performance and scalability
- Multichain queries
- Analysis and dashboards previously impossible

🚀