According to @CoinMarketCap, real-world asset (RWA) protocols have overtaken decentralized exchanges (DEXs) to become the fifth-largest DeFi category, with total value locked rising from $12 billion in Q4 2024 to $17 billion today, based on DefiLlama data. Source: CoinMarketCap; DefiLlama. The rank change reflects higher RWA category TVL relative to DEXs during the period, which can be measured via category TVL share and net inflows on DefiLlama. Source: CoinMarketCap; DefiLlama. For trading, monitor DefiLlama’s category pages for RWA versus DEX dominance, 7-day and 30-day TVL change, and net inflows to assess flow momentum and liquidity conditions. Source: DefiLlama.

According to @KookCapitalLLC, they have been buying Pokemon cards on-chain rather than in-person by using real-world asset (RWA) protocols. Source: X post by @KookCapitalLLC on Aug 28, 2025. According to @KookCapitalLLC, some RWA protocols have effectively solved key frictions in the collectibles market. Source: X post by @KookCapitalLLC on Aug 28, 2025. According to @KookCapitalLLC, the collectibles market size is estimated at USD 300–500 billion. Source: X post by @KookCapitalLLC on Aug 28, 2025.