Tokenized RWA Market Reaches $24.8B as DeFi TVL Falls to $94.8B

Tokenized real-world assets rose 8.7% over the past month to $24.8 billion, while decentralized finance total value locked fell 25% to $94.8 billion in the same period, Decrypt reports. RWA.xyz data show tokenized U.S. Treasuries reached $10.7 billion (up 10%), commodities $6.9 billion (up 20%), and private credit $2.9 billion (up 15%). Sergej Kunz, co-founder of 1inch, told Decrypt the divergence reflects capital rotation within crypto rather than an exit, citing compressed DeFi yields and tokenized Treasuries offering a 4% on-chain return with minimal risk. Rico van der Veen, CEO of Programmable Credit Protocol, said RWA protocols provide executable rights, regulatory clarity, and cash flows independent of token issuance that DeFi does not offer.