Private credit
~$3.2B on-chain, +180% YoY — highest-growth RWA slice
Part of the Real-World Assets sector. The sector is heavily concentrated, with Figure Heloc alone accounting for roughly a third of total market cap, followed by infrastructure-oriented projects like Chainlink and Stellar. This combination of rapid annual growth but a recent slowdown, alongside concentration in a handful of tokens, suggests a sector still consolidating around a few dominant players rather than broad-based expansion. This is not financial advice.
Educational content, not financial advice.