ChainCatcher news, according to a report released by Binance Research, the market value of on-chain real-world assets (RWAs, excluding stablecoins) has exceeded $12 billion, indicating sustained investor interest in the blockchainization of traditional assets. Among them, the tokenized U.S. Treasury market stands out, with a market capitalization exceeding $2.2 billion. BlackRock's BUILD fund has a market value of $520 million, while Franklin Templeton's FBOXX fund has a market value of $434 million.The report points out that the ongoing high interest rates in the U.S. have driven the rapid growth of the tokenized Treasury market, but as the Federal Reserve is expected to lower interest rates in the coming months, the attractiveness of these yield products may be affected. Additionally, on-chain private credit, tokenized commodities, and the real estate market are also growing, with the on-chain private credit market valued at $9 billion.