The wave of #RWA热潮 RWA (Real World Assets) stems from blockchain technology tokenizing traditional assets, enhancing liquidity and trading efficiency. In 2024, the RWA market is expected to grow significantly, with the total market value of global tokenized assets exceeding $23 billion, projected to reach $18.9 trillion by 2033. Traditional financial giants such as BlackRock and JPMorgan are entering the space, while Hong Kong promotes the LEAP framework to support tokenized bonds. Core projects like Ondo, Maple, and Centrifuge show strong performance, but challenges remain regarding compliance, investment thresholds, and market volatility risks. RWA connects traditional finance with DeFi, presenting enormous potential, but caution is needed regarding regulatory and technical challenges.