As cryptocurrencies have been mistreated in a wide market correction in recent weeks, digital asset investors sought refuge in treasure tokenized products in the United States.
Since the end of January, the combined market capitalization of the tokens backed by the Treasury increased $ 800 million to reach a new historical record of $ 4.2 billion on Wednesday, according to the RWA.XYZ data source.
The real world asset platform Ondo Finance (ONDO) products, the OUSG and USDY tokens backed by short -term bonds, rose to only $ 1 billion combined, a 53% increase in the market value during the last month. Buidl, the Token issued jointly by the Blackrock Assets manager and the Securitize tokenization firm, won 25% during the same period to exceed $ 800 million. The Token Benji of the asset manager Franklin Templeton expanded to $ 687 million, an increase of 16%, while Superstate USTB reached $ 363 million, more than 63%.
A remarkable atypical was Hashnote’s USYC, which threw more than 20% of its market capitalization at $ 900 million, predominantly due to the decrease in the usual defical protocol after the violent reaction of investors. The Token is the main support asset of USD0 Stablecoin of USD0, which collapsed below $ 1 billion supplies of its January peak of $ 1.8 billion.
“We believe that the capitalization of the Tokenized Treasury market during the recent cryptographic recession reflects a quality flight, similar to the way in which traditional investors change actions to US treasures. UU. During economic uncertainty,” said Brian Choe, Rwa.xyz research chief of Rwa.xyz, Coindesk.
Choe based its analysis to compare the growth of the market lid of the treasury bonds with stablcoins between November and January, when cryptography markets recovered, and since February when prices were corrected.
During the recent bearish period, the tokenized treasure bonds grew faster than the stables, unlike the upward phase, when the stable growth surpassed the treasure treasure market.
“This points out that some investors are not leaving the ecosystem, but that capital revolves in safer assets and with yield until market conditions improve,” said Choe.
