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.