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The RWA sector now has more than $28B in onchain value across 161 active issuers, according to DeFiLlama.
The distribution is less broad than the issuer count suggests.
- @Securitize: 15.5%
- @OndoFinance: 12.0%
- @Tether: 10.6%
- @Circle: 10.6%
- @maplefinance: 7.3%
Together, they account for roughly 56% of all RWA value onchain.
The issuer count tells one story.
The asset distribution tells another.
Launching RWAs is becoming easier.
Accumulating assets is not.
The next phase of the market may be defined less by who tokenizes assets and more by who attracts them.