Since Cryptocurrencies have been beaten in a correction of broad marketing in recent weeks, digital asset investors sought refuge in tokenized US Ministry of Finance.
Since the end of January, the combined market value of Treasury-backed token’s $ 800 million grew to hit a fresh record of $ 4.2 billion on Wednesday, Data Source Rwa.xyz shows.
The Real World’s Active Platform Ondo Finance’s (Ondo) products, the short-lived bond-backed OUSG and USDY tokens, climbed up to just shy for $ 1 billion together, a 53% increase in market value over the past month. Buidl, Tokenet, who was jointly issued by asset manager Blackrock and Tokenization Firm Securitize, received 25% in the same period to surpass $ 800 million. Asset Manager Franklin Templeton’s Benji Token expanded to $ 687 million, an increase of 16%, while Superstates USTB hit $ 363 million, which is more than 63%.
A remarkable outlier was hashnotes Usyc, which throws over 20% of its market cap to $ 900 million, predominantly due to the decline of defi protocol sack after investor setback. The token is the most important backing asset for Salmy’s USD0 stableecoin, which dropped less than $ 1 billion delivery from its January -top of $ 1.8 billion.
“We believe that the growth of the tokenized Treasury Market Cap during the recent crypto -go reflects a flight to quality, similar to how traditional investors switch from shares to US treasuries under financial uncertainty,” Brian Choe, head of research at RWA.xyz, told Coindesk.
Choe based its analysis on comparing market capital growth of tokenized treasuries with stablecoins between November and January, when crypto markets were together, and from February when prices corrected.
In the recent Bearish period, tokenized treasuries grew faster than stableecoins, as opposed to the bullish phase, when stablecoin growth exceeded the Token Market Treasury.
“This signals that some investors do not leave the ecosystem, but rather rotate capital to safer, dividend -bearing assets until market conditions are improved,” CHOE said.
