Blackrock BUIDL leads the pack as RWA market surpasses $10 billion

Last week, March 18, the TVL in RWAs surpassed $100 million mark, making the sector 7th biggest category in DeFi market.

Last week, March 18, saw the TVL in Real World Assets (RWA) exceed the $10 billion mark, positioning the sector as the 7th biggest category in the DeFi market. Today, the TVL has reached an AHT of $10.783 billion, highlighting the increasing demand for tokenized assets and institutional involvement in blockchain finance.

Today, crypto analyst TOP 7 ICO ranked the top RWA protocols, which mainly contribute to this $10.783 billion TVL.

Among the top RWA protocols by TVL, BlackRock BUIDL leads with $1.64B, followed by Maker RWA at $1.29B, and Ethena USDtb at $1.18B. TVL on RWA amount to ~$10.7B

BUIDL

MKR

ENA

ONDO

USUAL

USYC

XAUT

PAXG

According to the data, Blackrock BUIDL is the largest RWA project, accumulating a TVL of $1.64 billion. BUIDL's dominant presence attracts major financial institutions into the sector, setting the stage for more institutional money to enter the cryptocurrency market.

Next is MakerDAO, a second largest RWA protocol with $1.29 billion TVL. Maker is one of the first crypto projects to integrate RWA as collateral, with about 46% of its DAI algorithmic stablecoin backed by RWA. This approach helps stabilizing DAI's value and boosting the protocol's earnings. Reports shows that 48% of Maker's annual incomes come from RWA.

Ethena Labs followed as the third biggest RWA protocol, holding $1.18 billion TVL. It is a protocol with a mission to provide a decentralized, crypto-focused alternative to fiat money. Its USDtb stablecoin is a new form of tokenized financial device, backed by Blackrock money market fund.

With the growing demand for stablecoin-backed funds, Ethena is experiencing a significant rise in TVL. As of March 18, Ethena's USDtb has become the fourth largest stablecoin in the DeFi sector, boasting a remarkable 654% increase in TVL year-to-date.

Ondo Finance came in as the fourth largest RWA protocol, holding $1 billion TVL. It bridges traditional finance and the DeFi landscape by tokenizing fixed-income instruments, providing investors with an advanced and stable approach to generate returns. In 2023, its USDY, a yield-focused stablecoin backed by US treasury, recorded a 641% growth. Its achievement highlights the robust demand for high-liquidity, low-risk RWA assets.

Usual Money settled as the fifth largest RWA project with a TVL of $779 million. It is a decentralised fiat-backed stablecoin provider with a mission to provide security and stability within the crypto landscape through its decentralized tokens. Its multi-chain infrastructure collects RWAs from major protocols, including Ondo, Blackrock BUIDL, Hashnote, and Mountain Protocol, to back its USD0 stablecoin.

Other major RWA projects, which also appeared in this list include Hashnote USYC, Tether Gold, Franklin Templeton, Paxos Gold, and Spiko. Hashnote USYC holds a TVL of $760 million, making it the sixth biggest RWA project. It is followed by Tether Gold (XAUT) with a $746 million TVL.

Franklin Templeton scooped the eighth place with $671 million TVL. Lastly, Paxos Gold and Spiko occupied positions 9 and 10 with $649 million TVL and $204 million TVL, respectively.