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The RWA sector just crossed $26B in total active market cap across protocols.
Institutions aren't testing the waters anymore. They're building the pipes.
Here are the top 10 RWA protocols by active market cap 👇
1. @tethergold (XAUT): $3,262,000,000
2. @circle (USYC): $2,902,000,000
3. @BlackRock (BUIDL): $2,822,000,000
4. @paxosglobal (PAXG): $2,121,000,000
5. @OndoFinance (USDY): $2,049,000,000
6. @maplefinance (syrupUSDC): $1,384,000,000
7. @centrifuge (JTRSY): $1,264,000,000
8. @BlackRock (BUIDL-I): $984,280,000
9. @Spiko_finance (EUTBL): $983,630,000
10. @FTI_US (BENJI): $915,960,000
Gold and bonds dominate the entire top 10.
Precious metals alone, Tether Gold and PAX Gold account for $5.38B combined.
That's nearly a third of the entire sector's active market cap.
BlackRock is dominating with $3.8B from two products in the top 10.
With tokenized treasuries adding billions in new capital every month, the race to $50B active market cap is no longer a question of if, just when.
Which protocol surprises you the most in this top 10? Drop it in the comments 👇