Centrifuge (CFG) price jumped more than 11% over the past 24 hours as of May 25, 2026, amid evidence that demand for tokenized assets is currently outpacing capital expansion. The rally occurred in the face of ongoing regulatory friction, specifically as the U.S. Securities and Exchange Commission (SEC) continues to delay approvals for tokenized stock trading. While the asset’s value climbed, its daily trading volume saw a significant 36% decline, settling at approximately $25 million according to CoinMarketCap data.
The discrepancy between price gains and trading activity comes as Centrifuge strengthens its position among top-tier tokenized stock platforms. Although its Total Value Locked (TVL) still trails major competitors like Securitize and Ondo Finance (ONDO), the platform has maintained a firm growth trajectory. As of May 8, 2026, Total Value Locked stood at $1.686 billion, representing a growth of more than $500 million during its recent price retracement period. This development aligns with broader trends where utility shifts dictate the 2026 market landscape.
Holder metrics signal strengthening network demand
Internal data from Centrifuge indicates that user participation is expanding more rapidly than the capital being moved into the system. Total Asset Holders rose 1.7% this week to reach 801,499, while the total number of CFG holders hit a record 10,150. Total Unique Addresses on the network were recorded at 23,008 at press time. This suggests that the platform is successfully attracting new participants even as institutional capital flows remain relatively steady.
The stablecoin segment of the ecosystem shows a similar trend of broadening adoption. Total Stablecoin Holders climbed 1.4% to roughly 256.61 million, yet the Total Stablecoin Value gained only 0.1% to reach $305.27 billion. At the same time, Distributed Asset Value increased by 1% to $34.02 billion. This gap suggests that tokenized assets are becoming a staple for a wider range of users, integrating into the platforms they already use for daily transactions.
Record decentralized exchange activity for tokenized S&P 500
Activity on decentralized exchanges (DEX) reached new all-time highs, driven by interest in tokenized traditional assets. Uniswap’s DEX volume for the tokenized S&P 500, which trades under the ticker deSPXA, hit $1.80 million. This figure was nearly ten times higher than the $189,000 volume reported by Aerodrome Finance. In total, Centrifuge’s deSPXA DEX volume has surpassed $21.22 million.
This surge in trading reflects the platform’s recent strategic pivot as Coinbase’s official tokenization infrastructure partner. The collaboration allows for 24/7 trading of the S&P 500 on the Base Chain for non-U.S. users, managed by Janus Henderson in partnership with S&P Dow Jones Indices. While deSPXA is a major driver, other tokenized assets on the platform including JTRSY, JAAA, and ACDRX currently hold larger TVL and generate even higher DEX volumes. This type of liquidity surge is often a precursor to broader market shifts, similar to how XRP momentum restarts during liquidity waves.
Analyzing the technical path to reclaim the 0.35 dollar peak
Centrifuge is currently attempting to reclaim its previous peak of $0.35, but technical hurdles remain. Technical analysis of the daily chart shows CFG has respected an ascending trendline support since its launch, with the price currently consolidating near recent highs. For the rally to extend into next week, the asset ideally needs a weekly candle close near $0.30 to improve the probability of a higher breakout. Such targets are crucial for investor confidence, much like Cardano price outlooks when seeking recovery milestones.
Momentum indicators and buyer control
Indicators on the CFG chart present a complex picture of market sentiment. Moving Average Convergence Divergence (MACD) bars have recently turned green, which typically signals that buyer momentum is strengthening. However, the Cumulative Volume Delta (CVD) remains red, indicating that sellers still exert influence over the current market structure. If bulls can successfully reclaim the $0.30 to $0.32 range, a retest of $0.35 becomes the likely next step, provided the ascending trendline stays intact.
The project’s leadership remains focused on long-term infrastructure over short-term price volatility. CEO Bhaji Illuminati recently addressed the Coinbase partnership, noting that the priority is not merely onboarding any assets, but “getting the right assets onchain in the right way.” While the current price is a far cry from the CFG historical all-time high of $2.58 reached in October 2021, the current growth in unique addresses and TVL suggests a fundamental shift toward institutional utility.