Cryptocurrencies supporting the real-world asset tokenization house pumped 11% this week as the entire worth of tokenized RWAs hit a brand new document excessive.
Over the previous seven days, the RWA token market cap has surged from round $67 billion to an all-time excessive of just under $76 billion on Friday, based on CoinMarketCap.
The class of cryptocurrencies pertains to protocols and tasks with a robust deal with tokenization, reminiscent of blockchain oracle supplier Chainlink (LINK), high-speed layer-1 chain Avalanche (AVAX), and institutional RWA DeFi platform Ondo Finance (ONDO), which has surged 9% on the day.
RWA onchain worth peaks
The surge in RWA tokens has coincided with a pointy enhance within the complete worth of tokenized belongings onchain, which topped $29 billion for the primary time this week, based on RWA.xyz.
Complete worth onchain has virtually doubled for the reason that starting of this 12 months as extra monetary establishments begin providing merchandise onchain.
Associated: Ethereum added $1B of stablecoins virtually day by day final week
Greater than half of the entire is tokenized non-public credit score, and round 1 / 4 is tokenized US treasurys, with the rest being tokenized commodities, different funds, equities and bonds.
When stablecoins are included, the entire worth is at a document $307 billion.
Greater than three-quarters of this complete worth is tokenized on Ethereum and layer-2 networks.
Tokenization is “now being pushed by the US authorities in an effort to modernize US markets,” stated crypto investor Ryan Sean Adams on Thursday on X, including that Wall Road and fintech companies at the moment are incentivized to make this occur.
BlackRock to tokenize ETFs
In the meantime, the world’s largest asset supervisor, BlackRock, is exploring tokenizing its exchange-traded funds (ETFs) on the blockchain, based on latest experiences.
The transfer follows BlackRock’s profitable launch of the USD Institutional Digital Liquidity Fund (BUIDL), a tokenized money-market fund launched on Ethereum in 2024 that has grown to round $2.2 billion in belongings below administration.
BlackRock CEO Larry Fink has beforehand said that each monetary asset could be tokenized, including that it’s going to “democratize finance.”
Journal: Thailand’s ‘Large Secret’ crypto hack, Chinese language developer’s RWA tokens: Asia Specific
