Activates in the real world (RWAs) are now a $ 10 billion category, according to data curated by Defillama, with Maker, Blackrocks Buidl and Ethenas USDTB, each of which accounts for more than $ 1 billion in total value locked (tvl).
Of the three, USDTB – a stableecoin designed to contrast with ethena’s USDE – had the fastest growth and added over 1,000% in Tvl in the last month.
USDTB is supported by Tokenized Blackrock Money-Market Fund shares, while USDE uses crypto assets and eternal futures strategies for crypto-driven yields.
Coindesk reported earlier that Treasury-backed Tokens reached a record $ 4.2 billion market capital in the first quarter, driven by growth in Ondo Finance’s OUSG and USDY-Tokens, Blackrock and Securithizes Buidl, Franklin Templine’s Benji and Superstates USTB.
According to Data Sgregator Rwa.xyz, Treasury-backed tokens dominates. The next highest category, tokenized ingredients, comes in at $ 1.26 billion, with Paxos Gold leading with Tvl of just over $ 500 million.
Analysts say this reflects investor preferences for safer assets in the midst of Bearish Crypto mood, where T-bills exceed what is offered for dividends with larger defi protocols as a connection.
Read more: RWA-tokenization: What does it mean to tokenize assets in the real world?
