In 2025, only one sector will maintain continuous positive growth and set a historical high, and that is RWA
By the end of 2024, the RWA market size will be approximately $15.2 billion, reaching $24 billion by June 2025, with an annual increase of over 58%, of which about $5.4 billion net influx will flow in during the second quarter.
In contrast,
AI and Depin sectors have dropped 45% since the end of 2024
MEME has dropped 80%
The liquid staking sector has dropped 15%
Why can RWA stand out?
As previously mentioned, only U.S. Treasury products have net increased by $800 million from January to March 2025, with a scale exceeding $4.2 billion. BlackRock BUIDL, Franklin BENJI, Republic, and Maple private credit are driving stable cash flow assets on-chain. Additionally, with U.S. Treasury yields maintaining around 6% in the first half of 2025, which is higher than most stable on-chain yields, it is logical that funds continue to flow into RWA.
Of course, Ethereum's full shift to institutional adoption is also one of the driving forces for RWA. Currently, the crypto space has a complete RWA ecosystem infrastructure: Ethereum mainnet + Layer 2 (Base / Berachain) + specialized RWA bridges (Circle Perimeter, Centrifuge).
What are the core products and tokens?
The main yield products for government bonds are primarily BUIDL (BlackRock), BENJI (Franklin Templeton), OUSG (Ondo).
The main tokens are $ONDO , $OM (Mantra) (note the risks), $CFG (Centrifuge), $POLYX (Polymesh).
Of course, you can also bet on the foundational layer of RWA, one is $LINK (Chainlink) and the other is $ALGO (Algorand).
