Jack Tan, co-founder of WOO X, outlines key trends shaping the crypto market

Jack Tan, co-founder of WOO X, outlined key trends shaping the crypto market in a note to crypto.news.

Jack Tan, co-founder of WOO X, highlighted several key trends in a note to crypto.news. Among them was the booming expansion of real-world assets (RWAs), especially in the Binance Smart Chain ecosystem.

Recently, there has been a surge in the adoption of RWAs, with estimates from Statista indicating that the sector could reach $16.1 trillion by 2030.

“This showcases the long-term potential of asset tokenization,” Tan wrote. “As the RWA sector matures, key projects such as ONDO (ONDO), LINK (LINK), MKR (Maker), and PLUME are well-positioned to benefit from this growth.”

Among the projects that are reaping the benefits of the RWA boom is a BUIDL fund, managed by BlackRock. It has seen remarkable growth since its launch with an initial $100 million USDC in March 2024.

Now, the fund has accumulated over $1 billion, and its BUSD holdings are nearing $750 million, while its BTC (Bitcoin) holdings stand at around $250 million.

Moreover, the BUIDL fund has managed to capture approximately 30% of the tokenized U.S. Treasuries market.

Beyond Treasuries, RWAs are venturing into new financial products. For instance, Ondo Finance recently partnered with Mastercard to integrate its OUSG bond fund into Mastercard’s Multi-Token Network.

This integration will facilitate seamless interaction between crypto payments and traditional financial systems. Furthermore, Coinbase is reportedly collaborating with Swiss tokenization firm Backed to introduce tokenized stocks, such as “wbCOIN,” on its layer-2 network, Base, according to Tan.

These developments showcase the increasing confidence of institutions in financial instruments powered by blockchain technology.

BSC ecosystem faces selloff

The Binance Smart Chain (BSC) ecosystem has seen a surge in liquidity for projects like MUBARAK, PALU, ATM, and Broccoli. However, investor confidence was shaken after crypto influencer Wolfy_XBT was accused of triggering panic.

Through aggressive selling of BNB (BNB) Card-related tokens, Wolfy_X_X is alleged to have sold over 100 billion tokens within 48 hours, aiming to reach 500 billion by the end of the week.

This event has sparked broader discussions about the potential risks in tokenized ecosystems.