Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
ETH 
SOL Tokenized assets bucked the trend, and DeFi deposits continued to decline.
According to the latest data from CoinShares and Token Terminal, in the past year, tokenized real-world assets (RWAs) on the decentralized finance (DeFi) platform have grown significantly, surging from US$2.3 billion to US$7.4 billion, tripling in size. Although total DeFi deposits fell by 15% over the same period, this growth momentum remains strong.
Is the trading model changing?
Yes, changes are already evident. The "Hybrid Financial Growth" report pointed out that tokenized real-world assets have diverged from traditional DeFi assets. Over the past year, spot trading volumes on decentralized exchanges have plunged by about 70%, while trading volumes on tokenized assets have soared by about 220%.
In the field of perpetual contracts, although the growth rate of the entire DeFi market has slowed since October 2025, market interest in tokenized real-world assets continues to rise. At present, tokenized assets account for more than 25% of the outstanding positions in perpetual contracts on the chain, among which tokenized treasury bonds funds and private credit products are particularly active.
Is the new network driving change?
Yes, it is. Ethereum currently dominates, with nearly 70% of RWA collateral stored on the platform. However, with Aave's expansion beyond Ethereum, Plasma has become a competitor to be reckoned with. Solana has also gradually gained market attention through its native RWA lending platform Kamino.
Despite the surge in on-chain activity, revenue growth from trading and lending platforms has not kept pace, reflecting that RWA is still in its early stages of application. Hyperliquid is an exception, with higher revenue than its competitors, thanks to its solid market position.
Overview of market dynamics:
·Tokenized RWA grew by 8.7% month-on-month, with a total scale of US$24.8 billion.
· DeFi's total locked positions (TVL) fell 25% to $94.8 billion.
·Investors are turning their attention to tokenized treasury bonds with a yield of about 4%.
Despite the rapid development of tokenized RWA, its scale still accounts for a very small proportion of traditional financial markets. For reference, the global stock market value exceeds US$100 trillion, while only US$2.2 billion is currently being tokenized. This highlights the continued evolution of the field and the huge potential for future growth.
Investors increasingly need advanced tools to cope with these changes. Related platforms provide comprehensive portfolio management and market tracking tools that can be used without creating an account, thereby gaining strategic advantages when responding quickly to market changes. As tokenized assets continue to heat up, the exploration of innovative investment methods seems inevitable.
