Everyone's watching Bitcoin bleed and calling it risk-off.

But zoom in, and you’ll see where the smart crypto-native capital actually rotated —Tokenized RWAs.

Tokenized gold ($PAXG, $XAUT) just hit $2B in market cap. Trading volume exploded—$PAXG alone saw a 900%+ weekly spike. Since Jan 20, tokenized gold is +21%, while BTC is -19%.

This isn’t a gold narrative. It’s a RWA awakening.

When macro gets messy, real-world-backed tokens with deep liquidity become crypto’s safe haven. Tokenized RWAs aren’t some future narrative—they’re outperforming now.