TL;DR
- Real-world assets in cryptocurrencies are on the rise, with a focus on USD-backed stablecoins.
- Commodity-backed tokens reach a market cap of $1.1 billion, with gold being the most popular commodity.
- RWAS treasury products saw 641% growth in 2023, led by US Treasuries.
The world of cryptocurrencies is undergoing a significant transformation with the rise of real-world assets (RWAs), as highlighted in CoinGecko’s latest report.
This trend, which started with fiat-backed stablecoins like Tether (USDT), has evolved to encompass a broader range of assets, from precious metals to US Treasuries. Below, we’ll discuss the highlights of this report.
First of all, it is crucial to highlight the dominance of USD-backed stablecoins in the real-world asset market in cryptocurrencies.
Tether (USDT) leads the way with a 71.4 % market share, closely followed by USDC and Dai.
Although there was a brief decline in USDC market share during the US banking crisis in March 2023, Tether remains the dominant force in this space.
Additionally, commodity-backed RWAS tokens are gaining traction
With a combined market capitalization of more than $1.1 billion.
Gold leads this segment, with tokens like Tether Gold (XAUT) and PAX Gold (PAXG) accounting for 83% of the market capitalization of commodity-backed tokens.
However, other commodities, such as uranium, are also being tokenized, reflecting the growing diversity of options available to blockchain investors.
Another highlight of the report is the explosive growth of RWAS treasury products, which increased by a staggering 641% in 2023.
Although this growth has stabilized in 2024, it remains an area of significant interest for investors.
U.S. Treasuries are the most popular in this segment, with issuers like Franklin Templeton leading the way.
CoinGecko’s report highlights the growth and diversification of real-world assets in cryptocurrencies, from fiat- backed stablecoins to commodity-backed tokens and RWAS treasury products.
These trends reflect greater acceptance and adoption of cryptocurrencies as a legitimate asset class and offer investors new opportunities to diversify their portfolios.
