2026-01-03 15:23:00

After several cycles of bull and bear markets, the long-term stories still frequently discussed in the crypto space are just a few, with RWA and asset tokenization being the most core. This might be the final imagination space for this track.

Looking at the current data shows how significant the movement is:

The total stablecoin market cap is about $29.685 billion, with holders surpassing 200 million. Circulating RWA on public blockchains exceeds $19 billion. Tokenized US Treasuries and cash equivalents reach $8.83 billion, and tokenized commodities like gold exceed $3.5 billion.

By 2025, these numbers will be astronomical.

But reality is a bit harsh— for ordinary retail investors, this slice of the cake seems hard to bite into. The thrill of overnight riches is gone, everything now looks very rational, and it’s not as attractive anymore.

Actually, finding good RWA projects isn’t that complicated; two dimensions are enough: where the value is generated and where it is captured. The real value mainly flows into three directions: on-chain USD yield, RWA collateral, and the infrastructure of institutional settlement, custody, and clearing. Apart from RWA projects in these three areas, most are just eye-catching concepts.

If you’re still unsure how to choose, holding LINK directly is quite stable.

Aave Labs recently launched an institutional lending solution worth paying attention to, as they’ve integrated tokenized government bonds, CLOs, and other assets. AAVE itself is one of the blue-chip RWA tokens, though with slightly higher risk.

The greatest potential should be for the beneficiaries of the RWA collateral lending industry chain. Currently, besides AAVE, projects like MORPHO and CFG face significant compliance and token price risks. Although AAVE is a leader, its price has already been driven very high, limiting room for growth. ONDO’s Flux Finance is another project worth watching.

The wave of asset tokenization has just begun, and the real opportunity lies in who can transfer tangible, real value.

AAVE0,86%

MORPHO6,99%

ONDO0,69%

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MetaMuskRat

· 01-06 13:30

Speaking of which, RWA is just a game for institutions; retail investors entering are just along for the ride. AAVE is indeed a leader, but the price is already at this level, so it seems there's not much room left. LINK remains stable, but the real profit-making opportunities are probably locked up by big players.

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ChainWanderingPoet

· 01-05 21:36

It sounds quite practical, but I still think that no matter how big these data are, they have little relevance to retail investors... The real profit-makers are still those institutions. LINK is stable and steady, but there's not much imagination left. Right now, buying just for peace of mind. AAVE's price is being pumped so high, it's really pointless. On the other hand, projects like MORPHO still have some chance... but you have to accept the risks. Wait, can asset tokenization really change anything? It still feels like just a different form of the same old thing.

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MissedAirdropAgain

· 01-04 01:58

I agree, RWA is indeed the final narrative, but honestly, it's really not very friendly to retail investors and lacks that sense of rush.

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LiquidationSurvivor

· 01-03 15:53

The dream of getting rich overnight is gone, now relying on stable income to survive? Honestly, it's a bit boring. RWA data is indeed impressive, but retail investors really can't get any benefits. AAVE has already surged so high, still dare to buy? Truly brave. LINK is a safety measure, but how much can the returns be? MORPHO and CFG always seem to carry some risk. Flux Finance, this dark horse, indeed hasn't attracted much attention. Institutions are the ones truly making money; we're just playing with concepts. Tokenized gold, it feels more solid somehow? Which current RWA projects are genuinely not just riding on concepts? AAVE is risky and priced high, I have a feeling of being trapped. Stablecoins amount to 29.6 billion, that doesn't sound like much. On-chain USD yields, which platform's product is the most reliable? It's better to buy mainstream assets than just eggs; might as well buy the big names directly.

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GasFeeCry

· 01-03 15:42

Another RWA argument, huh? Getting tired of it... but the data is indeed shocking, with $19 billion in circulating RWA—who would have thought? Retail investors really have no chance; without the expectation of getting rich quickly, why would they participate? How about LINK... still the same, a cautious choice. With AAVE's price already so high, how can it be played? On the other hand, ONDO still has some room for imagination. --- RWA is hot, but for us small investors, it's just for entertainment. The narrative of not making money isn't appealing. --- It's 2025, and we're still talking about the last imagination space of RWA? Feels like this argument has been going on for two or three years. Why hasn't it taken off yet? --- So basically, it's an institutional game. Let's not get involved to avoid losing money. --- MORPHO and CFG are so risky? AAVE is a bit more expensive, but it's probably more reliable than these two. --- On-chain USD yields, collateral, infrastructure—just hearing these makes it obvious that the final cheap stuff is eaten up by big players. --- ONDO's Flux just mentioned, and tomorrow someone will be hyping something else. That's just how this circle operates.

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ForkTongue

· 01-03 15:40

It's the same story again. When overnight riches are gone, they say it's not attractive. Then why are you still here?

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IfIWereOnChain

· 01-03 15:27

Retail investors are just like leeks, the dream of getting rich overnight is gone, who would still play then? LINK is stable, but it’s not very exciting anymore. AAVE has been pumped to this level, how can we still make money? The real profiters are still those institutions, we’re just drinking the soup. RWA sounds nice, but in reality, it’s just institutions harvesting. ONDO is a bit interesting, let’s do some more research. Wait, does MORPHO really have compliance issues? It seems like all the risks are in the token price. Honestly, it’s hard to find projects that truly create value; it’s all just conceptual games.

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MevSandwich

· 01-03 15:24

The dream of getting rich overnight is dead. Now I have to focus on fundamentals, which is a bit boring.

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