Insights built on RWA Markets, the market-structure layer for tokenized assets: fills, funding, flows and yields, onchain down to the wallet.
RWA Market structure data →
Joined July 2026
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Tokenization is eating traditional finance.
Since April over 1 Trillion Dollars of RWA volume have traded through centralized and decentralized crypto exchanges.
Now you can see the flows down to the wallet on the all new Rwa-markets.xyz website.
The @pendle_fi team says RWAs are over 80% of its TVL.
Our onchain census counted even more than that with $865.8M on its RWA tag, 91.3% of the $947.8M total TVL 🤯
The biggest slice is reinsurance at $293.6M, then base dollars at $227.0M and private credit at $152.7M.
Tokenized stock issuer @xStocksFi recently exceeded $100M deployed in Defi with our onchain census counting a total of $145M.
That's about ~15% of the $972.9M float across 12 chains.
Solana leads with $84.4M, and Ethereum's $44.0M is the most active share at 26% of its float.
xStocks is the first issuer to cross $100M in DeFi deposits, according to @TokenTerminal.
Live across lending, borrowing, yield, liquidity provision, rate markets with @Strategy, @Kamino, @Pendle_fi, @Raydium and @Uniswap.
More xStocks utility across DeFi, coming soon.
The AUTO market has grown a substantial $35M since the FT report earlier today.
@HastraFi's AUTO market on Kamino is now $170M, up from $135M.
$98.5M of AUTO is posted as collateral, with $71.4M lent against it, mostly fixed-rate wYLDS in four tiers from 5.3% to 6.25%.
Kamino Fixed Rates brings the financing terms institutions rely on to tokenized assets.
The AUTO Market grew from $10M to $135M in three weeks, with over $40M in fixed-rate borrowing in the first two weeks.
This is just the beginning for fixed-rate credit on Solana.
businesswire.com/news/home/2…
Refraction Research retweeted
gm Frank, RWA perps are taking over.
$2.16T over Q3 and been up only since the start of the year.
Too many interesting things to cover but a few top of mind:
- CEX is still king (Binance has >50% market share)
- Hyperliquid / TradeXYZ the onchain king
- equities is the most traded asset class (60%)
- trading volume is very 9 to 5 still with overnight and weekend low volume
Anyways, we cover it all at Pyth every month as the leading market data provider (95% market share) and thanks to @zinnresearch who has built a tremendous dashboard (@RefractionRWA)
xitter.cf/PythNetwork/status/211…
Refraction Research retweeted
Here are numbers tracked on @metricxyz for RWA markets and some important details which includes @PythNetwork dominance.
RWA stats for Metric for the First half October{post launch included}
- $248.1M in total volume {1-15 OCT}
- BNB Chain (Binance bStocks): $142.4M
- Robinhood Chain (Robinhood stock tokens vs USDG): $105.7M
- 99.2% priced by Pyth ($246.1M of $248.1M).
For RWAs on Metric for the 24hrs post announcement {launch}
- Total volume - $107.8M {BNB: $86.4M, Robinhood: $21.4M}
Adding the 16th Oct, the total volume is $357.9M with Pyth dominance at 99.4%
Source:@RefractionRWA{by @zinnresearch}
Metric is live: metric.xyz
Swap. Provide liquidity. Deploy your own pool.
Now open on Robinhood Chain, @BNBCHAIN and @ethereum.
In Friday's US session @metricxyz carried 70% of tokenized-stock pool volume.
With $36.8M of $52.7M total volume, it had more than twice the PancakeSwap and Uniswap volume combined.
Here's the breakdown of the US session volume on BNB for tokenized stocks 👇
Now tracking: @metricxyz.
38 tokenized-stock pools are currently live on BNB Chain & Robinhood Chain with $2.27M of liquidity and $92.4M traded in the last 24h.
Live on DeFi Markets under DEX liquidity & execution depth with updates conducted on an hourly basis.
Refraction Research retweeted
It's that time of the month again where we look into some numbers from the first half of the month. We will also be looking at some important details.
RWA stats for the First half October {and some important details}:
- Total Volume {including swaps} - $366.1B
- Total Volume{Excluding swaps} - $342.6B
- 85.40% Priced by @PythNetwork {Including swaps}
- 91.25% Priced by Pyth{Excluding swaps}
- Binance, OKX, Hyperliquid, Variational and Bitget took 84.5% of the total volume.
- Without swaps, Variational falls to $1.97B (#12) and Extended ($2.17B) enters the top 10.
Indices drop the most when swaps are added, because Variational's Nasdaq-100 swap (US100S) alone did $15.0B.
check the illustration video for more details.....
Source: @RefractionRWA{by @zinnresearch}
Now tracking: @metricxyz.
38 tokenized-stock pools are currently live on BNB Chain & Robinhood Chain with $2.27M of liquidity and $92.4M traded in the last 24h.
Live on DeFi Markets under DEX liquidity & execution depth with updates conducted on an hourly basis.
Over the last 30 days, 58% of the $5.9B in onchain tokenized stock volume traded while US markets were closed.
Each chain shows different preferences in trading times trading with BNB seeing 23% of volume overnight whilst Solana see's 15% of its volume on the weekends.
Looking into Robinhood Chain's first 100 days.
$14.7B of stock token volume moved across 193 tokens.
Two thirds ran through @Uniswap, while memecoin launchpads @ponsdotfamily & @longdotxyz carried a quarter between them.
NVDA, SPY and SPCX led making up ~45% of total volume.
Coinbase has listed 46 stock tokens on Base since 24 Sep.
Two of them are doing almost all the trading with MUc having $50.0M volume and PLTRc with $31.1M volume.
Over 99% of both ran through @aeroxyz pools.
Refraction Research retweeted
Another busy week in the RWA lounge.
Shoutout to @steinRWA again for curating.
Featuring @Securitize @Ondo
@FTDA_US @animocabrands
@zigfinance @bondifinance
@plumenetwork @ether_fi
@tokenforge @treasures_io
@Loopscale @orca_so
@formation_so @RWAFoundation_
@renesisfi @PythNetwork
@RefractionRWA
Now tracking: @HastraFi
Hastra has over $652M of PRIME and AUTO issued across Ethereum and Solana, and 69% of it now sits on Ethereum, almost all of it PRIME.
You can now find their issuance, leveraged positions and more on RWA-Markets.xyz
It's an honour to be featured in the RWA directory by @RWAFoundation_ 🎉
There's over 1,000 companies in the directory and we're proud to be one of the six data & analytics companies covering this rapidly expanding market.
Check out the directory in the post below👇
Date & analytics sections for companies like @tokenterminal, @RefractionRWA, @RWA_xyz, @DefiLlama, @dune & @Blockworks.
Pyth's 24/7 Indices gained ground in September.
Kraken added 6 of these feeds in early September and now uses 15 @PythNetwork 24/7 Indices feeds across its perps.
Those 15 priced 29.5% of Kraken's RWA perp volume in September, with the 6 new additions making up ~19% of that.
Now tracking: @re.
Re puts reinsurance onchain in two tranches: reUSD (senior) and reUSDe (mezzanine).
$327.4M outstanding across both, with reUSD holding 7% supply APY and reUSDe 11.81% APY.
Live on the Tokenized Fund Issuance card at rwa-markets.xyz
Now tracking: @plumenetwork.
Over $135M of onchain private credit tracked leg by leg across Plume, Ethereum, BNB, Avalanche, and Base.
Plume turned real credit into something you can verify onchain, and now you can see their data on rwa-markets.xyz.
