Usual and Hashnote Lead the RWA TVL Growth Wave, with a 30-Day Increase of Over 200%

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Tokenization of Real World Assets (RWA) has experienced rapid growth over the past three years, with valuations reaching 58 times previous levels. According to the latest data from DeFiLlama, the total locked value (TVL) in this field has reached an all-time high of $8.217 billion, surging by $1 billion in just the past week.

Main Drivers: Usual and Hashnote

The two leading platforms, Usual and Hashnote, are at the core of the RWA expansion wave, together contributing over 35% of the locked asset value in the sector.

Usual:

Weekly TVL Increase: 65.65%.

Total Locked Value: $1.445 billion.

30-Day Growth: 230%.

Its growth is attributed to a $10 million Series A funding round led by Binance Labs and Kraken Ventures, along with news of governance token prices hitting all-time highs.

Hashnote:

Weekly TVL Increase: 65.58%.

Total Locked Value: $1.497 billion.

30-Day Growth: 217%.

Other Strong Performing Platforms

Nest Staking:

Weekly TVL Increase: 58%, with a total locked value of $66.24 million.

MatrixDock:

Weekly TVL Increase: 48.18%, supporting multi-chain operations.

Ethena:

Slight increase of 12.38%.

Underperforming Projects

Despite an overall positive trend, some protocols still face pressure:

Danogo:

TVL decreased by 15%, currently standing at only $4 million.

Solv Protocol:

High market capitalization, but TVL decreased by 10% in a week, closing at $712.81 million.

Maker RWA:

Largest TVL drop in 30 days, falling to $290.7 million, with a negative change rate of up to 65%.

Future Outlook: Continued Expansion of RWA

As traditional assets gradually migrate to blockchain, the tokenization of RWA is changing the investment landscape. Despite fluctuations and differentiation in the market, the success of platforms like Usual and Hashnote indicates that projects with a strong technological foundation and ecosystem support are likely to capture a larger market share in the future.

Summary

The trend of RWA tokenization shows tremendous growth potential, but market participants need to pay attention to differentiated performance and select high-quality projects with technical strength and financial backing to maximize returns in this field.

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