Last week, March 18

The Total Value Locked (TVL) in Real World Assets (RWAs) surpassed the $10 billion mark, making this sector the 7th largest category in the DeFi market. As of now, the TVL has surged to an all-time high (AHT) of $10.783 billion, showcasing the rising demand for tokenized assets and institutional participation in blockchain finance. Recently, the crypto analyst TOP 7 ICO ranked the top RWA protocols contributing to this significant TVL.

Top Real World Assets Protocols by Total Value Locked

Among the leading RWA protocols by TVL:
– BlackRock BUIDL: $1.64B
– Maker RWA: $1.29B
– Ethena: $1.18B

Blackrock BUIDL

Blackrock BUIDL is the largest RWA project with a TVL of $1.64 billion. Its influential position attracts major financial institutions, setting the stage for increased institutional investments in the cryptocurrency market.

Maker RWA

Following closely is MakerDAO, the second largest RWA protocol with $1.29 billion TVL. Maker was among the pioneers in integrating RWA as collateral, backing about 46% of its DAI algorithmic stablecoin with RWAs. This practice stabilizes DAI’s value and boosts protocol earnings, with reports indicating that 48% of Maker’s annual income comes from RWA.

Ethena

Ethena Labs ranks third with a TVL of $1.18 billion. The protocol aims to provide a decentralized, crypto-driven alternative to fiat currency, supported by the Blackrock money market fund. Increasing demand for stablecoin-backed assets is fueling Ethena’s robust TVL growth.

Ondo Finance

Ondo Finance is the fourth largest RWA protocol with $1 billion TVL. It connects traditional finance with the DeFi landscape through tokenization of fixed-income instruments. Its USDY stablecoin, backed by US Treasury, has seen a 641% growth, reflecting demand for high-liquidity and low-risk RWA assets.

Usual Money

Usual Money ranks fifth among RWA projects, achieving a TVL of $779 million. It focuses on decentralized fiat-backed stablecoins, aiming to provide security within the crypto landscape. Its multi-chain infrastructure supports RWAs from various leading protocols to back its USD0 stablecoin.

Others

Other notable RWA projects include:
– Hashnote USYC: $760 million TVL
– Tether Gold (XAUT): $746 million TVL
– Franklin Templeton: $671 million TVL
– Paxos Gold: $649 million TVL
– Spiko: $204 million TVL.