Over $32.9B of the $60B tokenized RWA market remains dormant with zero weekly transfers, raising questions about liquidity depth and real adoption.
RWA & Tokenization ·
A recent analysis of the tokenized real-world asset market found that more than half of the approximately $60 billion in assets recorded zero weekly transfers, with $32.9 billion sitting dormant according to research cited by CoinMarketCap. The dormancy metric—tracking assets that show no on-chain movement within a week—serves as a proxy for active liquidity and genuine market participation rather than theoretical value.
The finding raises structural questions about the RWA tokenization space. While the sector has grown to a $60 billion valuation on paper, the concentration of inactivity suggests that a significant portion of deployed capital may not be circulating or being actively traded, potentially indicating a gap between headline market size and actual liquidity depth.
What remains unclear is whether the dormant assets represent long-term holders deliberately holding positions, technical limitations in how activity is measured, or genuinely illiquid positions. The analysis does not detail which specific RWA categories or protocols account for the stagnation, nor does it clarify whether dormancy levels are changing week-to-week or represent a stable equilibrium.