《Let’s Talk About the Investment Theme of This RWA Cycle》 This round of RWA is an obvious focal point, kind of like how Layer 2 was the hot topic last cycle. So, what’s the logic behind it? Let’s break down RWA: Looking at the TVL distribution of RWA assets, you can see that ETH is leading, followed by BSC and SOL. RWA is indeed growing, but the majority of it is in government bonds. If we look at stocks alone, it’s only $2.4 billion—honestly, still not that big. Government bonds, on the other hand, are at $18.1 billion. Currently, the scale of RWA is growing at less than 2x per year. For comparison, the demand for AI tokens exploded with a 1x growth in just 3 months. This means there are definitely good opportunities around RWA. If we assume that in this cycle, RWA grows 5x, that would bring it to a $200 billion scale. Right now, ETH is at $300 billion. That’s enough. This number shows that RWA is poised to become a key internal driver of this bull market. What to buy? Circle, Ondo, ETH—these are currently the closest and most reliable options. Whether it’s RWA or tax optimization, this cycle is set. Even without any groundbreaking innovation in crypto, there will still be a market trend.
