TokenInsight publishes the Crypto Market Insights 2023 Q3 report, which shows that real-world asset (RWA) is one of the hottest sectors in crypto now. As of September, the market cap of RWA sector has grown by approximately 60% compared with the beginning of the year.
Lending is currently one of the best-performing areas in the RWA space, providing new financing methods for small and medium-sized enterprises and offering higher returns for DeFi users. As of September 24, 2023, a total of 1,748 loans were issued in the market, valued at $4.4 billion. The outstanding loan value stood at $555.8 million, an increase of 77% since the beginning of the year. The average interest rate for these loans was 9.94%, generally higher than the yield of non-RWA lending.
Tokenized US treasury bonds also become a popular investment option. Since 2023, the market cap of tokenized treasury bonds has risen by 452%, reaching $629.5 million. Currently, the average yield for on-chain tokenized treasury bonds stands at 5.25%, while the yield for stablecoin lending on Aave V2 (Ethereum) ranges from 3.5% to 4.5%.
Maker is among the projects that benefit from RWA the most. As of now, the value of RWA vaults on Maker is approximately $3 billion, accounting for 55% of the total protocol assets. Since increasing its holdings in RWA, Maker's revenue has significantly improved, rising by 624% in the past year. RWA currently contributes 64% to the protocol's earnings.
To learn more, please read the full report: Crypto Market Insights 2023 Q3
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Lending
