Content pfp
Content
@
0 reply
0 recast
0 reaction
Datacasters pfp
Datacasters
@datacasters
πŸ‘‹πŸ» 🎩 π“π‘πž 𝐎𝐧𝐜𝐑𝐚𝐒𝐧 πŽπ›π¬πžπ«π―πžπ« (part 1) is an Onchain Report for enterprise web3 teams created by a collective of web3 technologists and creators who value original + data-informed thinking. Issue 1 is out: - Not-so-obvious insights on the RWA sector
1 reply
1 recast
0 reaction
Datacasters pfp
Datacasters
@datacasters
- web3 x financial institutions: who are building in the space, what they’re building and the value it’ll bring - independent review of a useful data tool - tracking token performance by crypto narrative category Read in full: https://onchainobserver.beehiiv.com/p/onchain-observer
1 reply
0 recast
0 reaction
Datacasters pfp
Datacasters
@datacasters
a. Not-so-obvious insights on RWAs πŸ€” - RWA as a sector saw one of the highest TVL growth rates in 2H23, going from an aggregated TVL of $1 bn and less in 1H23 to between $5 bn to $6 bn in 4Q23.
1 reply
0 recast
0 reaction
Datacasters pfp
Datacasters
@datacasters
Upon a closer look at growth drivers, we see that a meaningful portion of the RWA segment’s TVL growth was driven by MakerDao’s adoption of RWA for its DAI collateral
1 reply
0 recast
0 reaction
Datacasters pfp
Datacasters
@datacasters
A key insight from @glxyresearch’s latest detailed RWA report is that a few of the largest DeFi & stablecoin protocols have rapidly moved from having only ~10-20% of their stablecoin collateral share coming from RWAs to as high as 60% in late '23!
1 reply
0 recast
0 reaction
Datacasters pfp
Datacasters
@datacasters
Separately, another meaningful driver of RWA TVL growth in 2023 came from a rise in tokenized U.S. treasuries & bond products starting in 2Q23. Per data from rwa.xyz the combined market value of issued tokenized treasuries amounted to over $860 million as of early 2024, up by ~$750 million since early 2023.
1 reply
0 recast
0 reaction
Datacasters pfp
Datacasters
@datacasters
Another observation - the market cap total for a "pure-play" RWA is not tracked properly for instance, some protocols categorized as RWA by CoinMarketCap are non-RWA focused blockchains and protocols ...which obscures the true picture of RWA-pure plays’ market value and how they are changing over-time.
1 reply
0 recast
1 reaction
Datacasters pfp
Datacasters
@datacasters
Considering the above sector tracking constraints, we put together a more focused list of β€œcore” RWA protocols (whose business is primarily in bringing RWAs on-chain). Their combined current market cap sums up to less than $4 billion as of late January 2024.
1 reply
0 recast
0 reaction
Datacasters pfp
Datacasters
@datacasters
If our estimate of a β€œpure-play” sector market cap for onchain RWA protocols is closer to reality - being between ~$4 to $5 billion or less as of early 2024, this implies the room for value appreciation for RWA protocols is massive in the coming few to 5 years.
1 reply
0 recast
0 reaction
Datacasters pfp
Datacasters
@datacasters
Stay data-curious πŸ‡ In each issue of 🎩 π“π‘πž 𝐎𝐧𝐜𝐑𝐚𝐒𝐧 πŽπ›π¬πžπ«π―πžπ« we cover Analyses that go beyond the flavors of the day/week - on emerging trends, adoption, fundamentals or narratives of a web3 vertical, network, or protocols
1 reply
0 recast
0 reaction
Datacasters pfp
Datacasters
@datacasters
Join other web3 enterprise readers here for free: https://onchainobserver.beehiiv.com/subscribe
0 reply
0 recast
0 reaction