RWA板块TVL超越DEX,跻身DeFi第五大赛道

ETH-1,3%
BNB-0,69%
AVAX-1,95%
SOL-2,2%

BlockBeats 消息,12 月 29 日,数据显示现实世界资产(RWA)板块已成为 2025 年 DeFi 增长最突出的板块之一。据 DefiLlama,RWA 板块按 TVL 计算跃升为 DeFi 第五大类别,超越 DEX 板块。目前 RWA TVL 约 170 亿美元,较 2024 年四季度的约 120 亿美元显著增长。DefiLlama 指出,年初 RWA 甚至尚未进入 DeFi 前十赛道,显示其从边缘实验迅速演变为 DeFi 核心基础设施。Kronos Research 首席投资官 Vincent Liu 表示,RWA 增长主要由资产负债表需求而非概念试验驱动。在「高利率维持更久」的环境下,代币化美债和私人信贷成为具备吸引力的链上收益资产,同时监管清晰度提升也降低了机构入场摩擦。结构上,以太坊仍是 RWA 发行与结算的主阵地,BNB Chain、Avalanche、Solana、Polygon 和 Arbitrum 等公链占据较小份额;与此同时,Canton Network 等许可型网络在机构端占据主导地位。分析认为,代币化美债仍是 RWA 的核心入口产品,而随着黄金、白银价格走强,代币化大宗商品正吸引更多资金,RWA 有望在 2026 年从「收益叙事」进一步走向宏观级资产与中性抵押品。

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Opmerking
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GateUser-8e744bc6vip
· 2025-12-29 11:38
Christmas Bull Run! 🐂
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Celebrationvip
· 2025-12-29 11:33
Watching Closely 🔍️
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