RWA Report: The Rise of Cryptocurrency as Real World Assets
ChainCatcher news, CoinGecko released the 2024 RWA report. The report states that currently, most real-world assets (RWA) are stablecoins pegged to the US dollar. The top three US dollar stablecoins alone account for 95% of the market share, with Tether (USDT) having a market capitalization of $96.1 billion, USDC (USDC) at $26.8 billion, and Dai (DAI) at $4.9 billion. USDT continues to dominate with a market share of 71.4%. Meanwhile, after a brief decoupling during the US banking crisis in March 2023, USDC's market share plummeted and has yet to recover.Stable assets not pegged to the US dollar account for only 1% of the market. These assets include other fiat currencies such as Euro Tether (EURT), offshore Chinese Yuan Tether (CNHT), Mexican Peso Tether (MXNT), Euro to US Dollar (EURC), StasisEuro (EURS), and Turkish Lira (TRYB).The market capitalization of stable assets soared from $5.2 billion at the beginning of 2020 to a peak of $150.1 billion in March 2022, then gradually declined throughout the bear market. However, its market capitalization grew by 4.9% in 2024, rising from $128.2 billion at the beginning of the year to $134.6 billion on February 1.