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Pantera Capital pointed out in its latest report that the current real-world asset (RWA) tokenization market, which is valued at $321 billion, is still in its early stages, with most products being just blockchain "wrappers" of traditional infrastructure. The report scored the tokenization progress of 542 assets, with an average score of only 2.04 out of 5. Among them, approximately 77.6% of assets are at the "wrapper" level, with only 2.7% reaching the "native" level. Pantera noted that 168 new tokenized assets were launched in 2025, a 115% increase compared to 2024; the market capitalization grew from about $200.6 billion to $320.6 billion, an increase of approximately 60%. (TheBlock)