- Tom Wan predicts a $3 billion market cap goal for the tokenized US Treasury in 2024.
- DAOs of DeFi initiatives are diversifying into actual property (RWA).
- Securitize and BlackRock are working to offer entry to risk-free Treasury yields.
In response to Tom Wan, knowledge and analysis strategist at Dune Analytics, the tokenized US Treasury market might surpass $3 billion by the tip of 2024. Wan's prediction comes as DAOs within the DeFi house more and more diversify their holdings into real-world property.
In his submit, Wan famous that DAOs of DeFi initiatives are diversifying into real-world property (RWAs), together with stablecoins and tokenized US Treasuries. The analysis strategist identified that with tokenized US Treasuries comprising greater than 15 merchandise on Ethereum Digital Machine (EVM) chains and managing almost $2 billion in property, DAOs are prone to embrace revenue-bearing merchandise of their treasuries.
Specifically, Wan cited BUIDL, USTB, USDY and USDM as a number of the merchandise that DAOs have already added to their coffers, predicting that the pattern is prone to proceed. He highlighted different examples, together with Arbitrum allocating 35 million ARBs, equal to $27 million, and MakerDAO allocating $1 billion.
In the meantime, knowledge analyst Dune cited methods proposed by main funding administration platforms Securitize and BlackRock, noting that the corporations intend to diversify the crypto ecosystem by giving it entry to the US Treasury's risk-free returns with out having to go away the blockchain ecosystem. .
In response to Wan, the anticipated enhance within the US Treasury's tokenized market cap might be a consequence of the actions of those corporations and can pave the way in which for additional actions by different gamers within the sector.
For context, latest analysis by Dune Analytics exhibits that stablecoin yields are not as enticing as Treasuries from a risk-return perspective. Subsequently, initiatives reminiscent of Ondo Finance, Backed Finance, Matrixdock, Maple Finance and Swarm, amongst others, have tokenized US treasuries on the chain and efficiently attracted greater than $300 million in asset administration.
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