Tokenized assets reach $346.1B onchain market cap, with stablecoins dominating 86.2% and traditional finance assets like T-bills and gold growing.
DeFi & Yields ·
Tokenized assets have reached a $346.1B onchain market capitalization, with USD stablecoins dominating at 86.2% of the total. Beyond stablecoins, the landscape includes U.S. Treasury bills valued at $15.0B, yield-generating strategies at $10.5B, credit funds at $6.4B, and gold at $5.1B, reflecting diversification across multiple asset classes.
This composition signals broader movement of traditional finance instruments onto blockchain networks. The concentration in stablecoins underscores their established role as the dominant onchain asset, while the smaller but meaningful allocations to T-bills, yield strategies, and commodities suggest institutional and retail participants are beginning to tokenize a wider spectrum of financial products.
What remains to clarify: whether these figures capture all Layer 1 and Layer 2 environments uniformly, how these valuations compare to total crypto market capitalization, and the velocity at which these non-stablecoin tokenized assets are accumulating relative to stablecoin growth.