$BTC 📊💵The Rise of Cryptocurrencies as Real-World Assets

[RWA Report: The Rise of Cryptocurrencies as Real World Assets], OctoQuant releases the 2024 RWA Report. According to the report, the majority of real-world assets (RWAs) are now stablecoins pegged to the U.S. dollar. The top three USD stablecoins alone hold 95% of the market share, with Tether (USDT) having a market capitalization of $96.1 billion, USDC (USDC) having a market capitalization of $26.8 billion, and Dai (DAI) having a market capitalization of $4.9 billion.

USDT continues to dominate with a market share of 71.4%. Meanwhile, after a brief de-pegging during the US banking crisis in March 2023, USDC's market share plummeted and has yet to recover.

Stabilized assets other than USD-pegged stablecoins account for only 1% of the market. These assets include other fiat currencies such as the Euro Tether (EURT), Offshore Chinese Yuan Tether (CNHT), Mexican Peso Tether (MXNT), Euro to US Dollar (EURC), StasisEuro (EURS), and Lira (TRYB).

The market capitalization of stabilized assets soared from $5.2 billion in early 2020 to a peak of $150.1 billion in March 2022, before gradually declining throughout the bear market. However, its market capitalization grew by 4.9% in 2024, from $128.2 billion at the beginning of the year to $134.6 billion on February 1st.

#OctoQuant #RWA #USDT