According to TechFlow, as of December 29, 2025, data from DefiLlama shows that real-world assets (RWA) have surpassed decentralized exchanges (DEX) to become the fifth largest category in the DeFi sector by total value locked (TVL). In early 2025, RWA had not even entered the top ten.
RWA Surpasses DEX to Become Fifth Largest DeFi TVL Category
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Summary
RWA news broke on December 29, 2025, as real-world assets (RWA) overtook DEX to become the fifth largest DeFi TVL category, per DefiLlama. In early 2025, RWA was outside the top ten. The DeFi exploit risk remains, but RWA adoption is gaining speed. Projects linking crypto to physical assets continue to attract capital rapidly. Total value locked in RWA now exceeds $30 billion.
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