• bitcoinBitcoin (BTC) $ 85,295.00
  • ethereumEthereum (ETH) $ 1,598.00
  • tetherTether (USDT) $ 0.999969
  • xrpXRP (XRP) $ 2.09
  • bnbBNB (BNB) $ 591.41
  • solanaSolana (SOL) $ 139.38
  • usd-coinUSDC (USDC) $ 0.999962
  • dogecoinDogecoin (DOGE) $ 0.158243
  • tronTRON (TRX) $ 0.241718
  • cardanoCardano (ADA) $ 0.628645
  • staked-etherLido Staked Ether (STETH) $ 1,596.15
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 85,086.00
  • leo-tokenLEO Token (LEO) $ 9.36
  • chainlinkChainlink (LINK) $ 12.83
  • avalanche-2Avalanche (AVAX) $ 19.59
  • stellarStellar (XLM) $ 0.246250
  • the-open-networkToncoin (TON) $ 2.98
  • usdsUSDS (USDS) $ 0.999840
  • shiba-inuShiba Inu (SHIB) $ 0.000012
  • hedera-hashgraphHedera (HBAR) $ 0.166043
  • suiSui (SUI) $ 2.14
  • wrapped-stethWrapped stETH (WSTETH) $ 1,916.58
  • bitcoin-cashBitcoin Cash (BCH) $ 339.32
  • hyperliquidHyperliquid (HYPE) $ 18.15
  • litecoinLitecoin (LTC) $ 76.12
  • polkadotPolkadot (DOT) $ 3.73
  • bitget-tokenBitget Token (BGB) $ 4.46
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
  • ethena-usdeEthena USDe (USDE) $ 0.999003
  • pi-networkPi Network (PI) $ 0.644435
  • wethWETH (WETH) $ 1,604.29
  • whitebitWhiteBIT Coin (WBT) $ 28.05
  • moneroMonero (XMR) $ 214.45
  • wrapped-eethWrapped eETH (WEETH) $ 1,706.62
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 85,340.00
  • daiDai (DAI) $ 1.00
  • uniswapUniswap (UNI) $ 5.26
  • pepePepe (PEPE) $ 0.000007
  • okbOKB (OKB) $ 50.61
  • aptosAptos (APT) $ 4.79
  • gatechain-tokenGate (GT) $ 22.62
  • ondo-financeOndo (ONDO) $ 0.842073
  • nearNEAR Protocol (NEAR) $ 2.11
  • susdssUSDS (SUSDS) $ 1.05
  • tokenize-xchangeTokenize Xchange (TKX) $ 31.20
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • bittensorBittensor (TAO) $ 281.00
  • ethereum-classicEthereum Classic (ETC) $ 15.78
  • internet-computerInternet Computer (ICP) $ 4.81
  • crypto-com-chainCronos (CRO) $ 0.084282
  • mantleMantle (MNT) $ 0.663799
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.17
  • aaveAave (AAVE) $ 139.03
  • render-tokenRender (RENDER) $ 3.99
  • kaspaKaspa (KAS) $ 0.077093
  • vechainVeChain (VET) $ 0.023246
  • cosmosCosmos Hub (ATOM) $ 4.15
  • fasttokenFasttoken (FTN) $ 4.23
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 84,702.00
  • official-trumpOfficial Trump (TRUMP) $ 8.56
  • algorandAlgorand (ALGO) $ 0.192202
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.189295
  • filecoinFilecoin (FIL) $ 2.49
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.999043
  • ethenaEthena (ENA) $ 0.281544
  • sonic-3Sonic (prev. FTM) (S) $ 0.467010
  • celestiaCelestia (TIA) $ 2.38
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 3.90
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.527945
  • arbitrumArbitrum (ARB) $ 0.291701
  • solv-btcSolv Protocol SolvBTC (SOLVBTC) $ 85,292.00
  • kucoin-sharesKuCoin (KCS) $ 9.93
  • binance-staked-solBinance Staked SOL (BNSOL) $ 145.63
  • makerMaker (MKR) $ 1,357.76
  • xdce-crowd-saleXDC Network (XDC) $ 0.071266
  • optimismOptimism (OP) $ 0.668354
  • jupiter-exchange-solanaJupiter (JUP) $ 0.383220
  • story-2Story (IP) $ 3.89
  • nexoNEXO (NEXO) $ 1.02
  • flare-networksFlare (FLR) $ 0.016026
  • binance-peg-wethBinance-Peg WETH (WETH) $ 1,598.41
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 1,668.74
  • bonkBonk (BONK) $ 0.000012
  • eosEOS (EOS) $ 0.619752
  • quant-networkQuant (QNT) $ 63.99
  • blockstackStacks (STX) $ 0.606482
  • usdt0USDT0 (USDT0) $ 1.00
  • worldcoin-wldWorldcoin (WLD) $ 0.713578
  • sei-networkSei (SEI) $ 0.170640
  • paypal-usdPayPal USD (PYUSD) $ 0.999814
  • immutable-xImmutable (IMX) $ 0.467682
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 1.00
  • dexeDeXe (DEXE) $ 14.48
  • tether-goldTether Gold (XAUT) $ 3,346.35
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 0.999878
  • curve-dao-tokenCurve DAO (CRV) $ 0.612706
  • injective-protocolInjective (INJ) $ 8.20
  • fartcoinFartcoin (FARTCOIN) $ 0.774506
  • pax-goldPAX Gold (PAXG) $ 3,344.17
  • the-graphThe Graph (GRT) $ 0.080574
  • rocket-pool-ethRocket Pool ETH (RETH) $ 1,798.30
  • solv-protocol-solvbtc-bbnSolv Protocol xSolvBTC (XSOLVBTC) $ 84,431.00
  • wbnbWrapped BNB (WBNB) $ 591.68
  • jasmycoinJasmyCoin (JASMY) $ 0.014658
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 85,150.00
  • usual-usdUsual USD (USD0) $ 0.997750
  • coredaoorgCore (CORE) $ 0.683616
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 153.67
  • theta-tokenTheta Network (THETA) $ 0.664843
  • raydiumRaydium (RAY) $ 2.25
  • msolMarinade Staked SOL (MSOL) $ 178.93
  • the-sandboxThe Sandbox (SAND) $ 0.263127
  • galaGALA (GALA) $ 0.014567
  • chain-2Onyxcoin (XCN) $ 0.018823
  • heliumHelium (HNT) $ 3.49
  • usdx-money-usdxStables Labs USDX (USDX) $ 0.999023
  • lido-daoLido DAO (LDO) $ 0.696841
  • mantle-staked-etherMantle Staked Ether (METH) $ 1,697.70
  • bittorrentBitTorrent (BTT) $ 0.00000061
  • iotaIOTA (IOTA) $ 0.161561
  • mantra-daoMANTRA (OM) $ 0.617500
  • movementMovement (MOVE) $ 0.241602
  • kaiaKaia (KAIA) $ 0.100295
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.09
  • flowFlow (FLOW) $ 0.367468
  • bitcoin-svBitcoin SV (BSV) $ 28.68
  • flokiFLOKI (FLOKI) $ 0.000057
  • pancakeswap-tokenPancakeSwap (CAKE) $ 1.89
  • walrus-2Walrus (WAL) $ 0.425740
  • jito-governance-tokenJito (JTO) $ 1.65
  • tezosTezos (XTZ) $ 0.501978
  • decentralandDecentraland (MANA) $ 0.277771
  • pendlePendle (PENDLE) $ 3.13
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 1,675.96
  • zcashZcash (ZEC) $ 31.48
  • pyth-networkPyth Network (PYTH) $ 0.138219
  • clbtcclBTC (CLBTC) $ 85,041.00
  • true-usdTrueUSD (TUSD) $ 0.998320
  • pumpbtcpumpBTC (PUMPBTC) $ 83,183.00
  • beldexBeldex (BDX) $ 0.066835
  • sonic-bridged-usdc-e-sonicSonic Bridged USDC.e (Sonic) (USDC.E) $ 0.999962
  • ethereum-name-serviceEthereum Name Service (ENS) $ 14.25
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.999962
  • grassGrass (GRASS) $ 1.66
  • kavaKava (KAVA) $ 0.419510
  • solayerSolayer (LAYER) $ 2.16
  • dydx-chaindYdX (DYDX) $ 0.580880
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 85,211.00
  • ubtcuBTC (UBTC) $ 83,087.00
  • apenftAPENFT (NFT) $ 0.00000042
  • reserve-rights-tokenReserve Rights (RSR) $ 0.007224
  • spx6900SPX6900 (SPX) $ 0.438940
  • telcoinTelcoin (TEL) $ 0.004436
  • hashnote-usycHashnote USYC (USYC) $ 1.08
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.158303
  • usdbUSDB (USDB) $ 0.999550
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 1,667.55
  • thorchainTHORChain (RUNE) $ 1.15
  • dogwifcoindogwifhat (WIF) $ 0.403013
  • ecasheCash (XEC) $ 0.000020
  • elrond-erd-2MultiversX (EGLD) $ 14.17
  • ousgOUSG (OUSG) $ 110.75
  • neoNEO (NEO) $ 5.54
  • tbtctBTC (TBTC) $ 84,641.00
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 1,698.07
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 1,603.63
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 0.571736
  • olympusOlympus (OHM) $ 22.67
  • berachain-beraBerachain (BERA) $ 3.38
  • axie-infinityAxie Infinity (AXS) $ 2.28
  • starknetStarknet (STRK) $ 0.124988
  • resolv-usrResolv USR (USR) $ 0.999767
  • based-brettBrett (BRETT) $ 0.036273
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 1,597.65
  • conflux-tokenConflux (CFX) $ 0.069373
  • compound-governance-tokenCompound (COMP) $ 39.70
  • chilizChiliz (CHZ) $ 0.037139
  • apecoinApeCoin (APE) $ 0.442380
  • arweaveArweave (AR) $ 5.40
  • mantle-bridged-usdt-mantleMantle Bridged USDT (Mantle) (USDT) $ 1.00
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 1,597.53
  • super-oethSuper OETH (SUPEROETHB) $ 1,597.82
  • usddUSDD (USDD) $ 0.999923
  • saros-financeSaros (SAROS) $ 0.127182
  • matic-networkPolygon (MATIC) $ 0.189717
  • wormholeWormhole (W) $ 0.072247
  • plumePlume (PLUME) $ 0.163850
  • binance-peg-busdBinance-Peg BUSD (BUSD) $ 0.999775
  • beam-2Beam (BEAM) $ 0.006165
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000059
  • fraxFrax (FRAX) $ 0.999833
  • sun-tokenSun Token (SUN) $ 0.016603
  • trust-wallet-tokenTrust Wallet (TWT) $ 0.761884
  • aioz-networkAIOZ Network (AIOZ) $ 0.271117
  • aerodrome-financeAerodrome Finance (AERO) $ 0.388528
  • roninRonin (RON) $ 0.495349
  • justJUST (JST) $ 0.030715
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.004774
  • amp-tokenAmp (AMP) $ 0.003534
  • honey-3Honey (HONEY) $ 0.999642

Top 10 RWA Protocols by TVL: Blackrock BUIDL, Maker RWA, Ethena, ONDO, USUAL Take Lead

0 8

Top 10 RWA Protocols by TVL: Blackrock BUIDL, Maker RWA, Ethena, ONDO, USUAL Take Lead

Last week, March 18, the TVL in RWAs surpassed $10 billion mark, making the sector 7th biggest category in DeFi market. As of today, the TVL has surged to an AHT of $10.783 billion, showcasing the rising demand for tokenized assets and institutional participation in blockchain finance. Today, crypto analyst TOP 7 ICO ranked top RWAs protocols, which mainly contribute to this $10.783 billion TVL.

Top Real World Assets Protocols by Total Value Locked

Among the top #RWAs protocols by TVL, BlackRock BUIDL leads with $1.64B, followed by Maker RWA at $1.29B, and Ethena USDtb at $1.18B. TVL on #RWA amount to ~$10.7B$BUIDL $MKR $ENA $ONDO $USUAL $USYC $XAUT $PAXG

🔗… pic.twitter.com/3BhwjrdZjP

— TOP 7 ICO | Crypto News & Analytics (@top7ico) March 25, 2025

Top RWA protocols

Blackrock BUIDL

According to the data, Blackrock BUIDL is the largest RWA project, amassing a TVL valued at $1.64 billion. With BUIDL’s dominant presence in the RWA sector, major financial institutions increasingly get attracted into the sector, laying the foundation for more institutional money entering the cryptocurrency market.

Maker RWA

Next is MakerDAO, a second largest RWA protocol with $1.29 billion TVL. Maker is one of the first crypto projects to integrate RWA as collateral, with about 46% of its DAI algorithmic stablecoin backed by RWA. This approach helps stabilizing DAI’s value and boosting the protocol’s earnings. Reports shows that 48% of Maker’s annual incomes come from RWA.

Ethena

Ethena Labs followed as the third biggest RWA protocol, holding $1.18 billion TVL. It is a protocol with a mission to provide a decentralized, crypto-focused alternative to fiat money. Its USDtb stablecoin is a new form of tokenized financial device, backed by Blackrock money market fund. With the growing demand for stablecoin-backed funds, Ethena is experiencing a significant rise in TVL.

Ondo Finance

Ondo Finance came in as the fourth largest RWA protocol, holding $1 billion TVL. It bridges traditional finance and the DeFi landscape by tokenizing fixed-income instruments, providing investors with an advanced and stable approach to generate returns. In 2023, its USDY, a yield-focused stablecoin backed by US treasury, recorded a 641% growth. Its achievement highlights the robust demand for high-liquidity, low-risk RWA assets.

Usual Money

Usual Money settled as the fifth largest RWA project with a TVL of $779 million. It is a decentralised fiat-backed stablecoin provider with a mission to provide security and stability within the crypto landscape through its decentralized tokens. Its multi-chain infrastructure collects RWAs from major protocols, including Ondo, Blackrock BUIDL, Hashnote, and Mountain Protocol, to back its USD0 stablecoin.

Others

Other major RWA projects, which also appeared in this list include Hashnote USYC, Tether Gold, Franklin Templeton, Paxos Gold, and Spiko. Hashnote USYC holds a TVL of $760 million, making it the sixth biggest RWA project. It is followed by Tether Gold (XAUT) with a $746 million TVL.

Franklin Templeton scooped the eighth place with $671 million TVL. Lastly, Paxos Gold and Spiko occupied positions 9 and 10 with $649 million TVL and $204 million TVL, respectively.

Source

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