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CoinGecko released the RWA report: Tokenized sovereign debt products grew by 641% in 2023, and commodity tokens received attention

CoinGecko released the RWA report: Tokenized sovereign debt products grew by 641% in 2023, and commodity tokens received attention

2024/03/20 09:31

On March 20th, CoinGecko released the 2024 RWA report with the following key points: 
1. Stablecoins pegged to USD dominate fiat-backed assets:
- The top three USD stablecoins hold a market share of 95%.
- USDT leads with a market share of $961 billion, accounting for 71.4%, followed by USDC ($26.8 billion) and DAI ($4.9 billion).
- Non-USD stablecoins only occupy 1% of the market.
2. Attention on commodity tokens, with gold in a leading position:
- The market value of commodity-backed tokens reaches $11 billion, accounting for 0.8% of the market value of fiat-backed stablecoins.
- Tokenized precious metals like Tether Gold (XAUT) and PAX Gold (PAXG) make up 83% of the total market value.
3. Tokenized sovereign debt products grew by 641% in 2023:
- Tokenized US Treasury bonds surged from $114 million in 2023 to $845 million but slowed down to an increase of only 1.9% in January 2024, reaching $861 million.
- Franklin Templeton leads with token issuance worth $332 million, capturing over38.6%ofthe market share.
4.Automotive industry dominates private credit sector:
-The automotive industry accounts for42%(196millionUSD)ofallprivatecreditloans,totaling$470million
-Fintech and real estate industries each account for only19%and9%, respectively

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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