Tokenized Assets Defy Broader Crypto Slowdown

Tokenized real-world assets (RWAs) continued to gain traction in decentralized finance (DeFi) last year, despite a broader slowdown in crypto-native activity.

A report from CoinShares found that RWA deposits across lending platforms and decentralized exchanges surged to $7.4 billion in the second quarter of 2026, more than tripling from $2.3 billion in the same period of 2025.

This growth marks a shift beyond simple issuance, with tokenized assets increasingly being deployed as productive collateral across on-chain financial services.

Ethereum (ETH) remained the largest ecosystem for RWA-backed lending, hosting nearly 70% of all RWA deposits, followed by Plasma (XPL). Solana's (SOL) growth was largely driven by Kamino (KMNO).