Another milestone for tokenized real-world assets, gold-backed assets surging, a Canadian Solana ETF approval, and increased acceptance of cryptocurrency payments are among the DeFi topics that caught the experts’ attention this week.
Tokenized RWAs cross $20B threshold
“The tokenized RWA market crossing $20 billion in this market is a strong signal. First, it is the only sector in crypto still reaching new ATHs while most are far from their highest levels and suffering heavy losses. Secondly, it shows that it’s not only hype anymore. Institutions are not just talking about it; they are actively tokenizing real-world assets now.
“On one side, we’re seeing tokenized credit and treasuries gaining traction, and on the other side, Layer1 and DeFi-leading projects are shifting to RWA utility and investments almost daily.
“And the best part of this emerging sector? It’s not just noise — it’s generating real and stable yield. This opportunity to finally benefit from DeFi without the constant fear of volatility is driving adoption. In other words, the tech is finally catching up to the ambition, and big players like BlackRock are seeing it.
“While the crypto market is always chasing narratives, RWA is building actual infrastructure with long-term value, and constant liquidity is now entering the ecosystem. This is why the RWA market keeps reaching new highs while almost everything else is plummeting.
“Crossing $20 billion is big, but we’re just scratching the surface. Most tokenized RWAs now are private credit and treasuries, which is great. But when gold, real estate, and other stable assets come on-chain, it will bring trillions of dollars in value still locked in outdated systems into DeFi and propel the sector into the future.”
– Kevin Rusher, founder of DeFi lending and borrowing platform RAAC
Investors seeking safety in mainstream, crypto markets
“The gold price crossing a new all-time high of over $3,240 and inflows into gold ETFs hitting their highest level since early 2022 are clear signs that investors are fleeing to safety amid current market volatility. While this is typical in mainstream markets, though, this is also happening in crypto.
“Currently, we are seeing significant interest in on-chain gold assets, signalling that decentralized finance (DeFi) is at a turning point.
“Gold-backed assets like Paxos Gold (PAXG) and Tether Gold (XAUT) are significantly outperforming the crypto market. The price of PAXG is up 22.9% to $3,247, while its market capitalization has grown over 40% to over $737 million since Jan. 1. Over the same period, the price of XUAT has grown 23% to $3,236 as its market capitalization has swelled 22% to $795.1 million. [Source: CoinGecko, 10:00 UTC, April 15, 2025]
“This is the fastest growth these tokens have seen over such a period since the depths of the bear market of 2024.
“Their growth also compares to a loss of nearly 19% for the overall crypto market, which has shed $634 billion this year to date, with the prices of Bitcoin down 8%, Ethereum 51%, and Solana 30% since Jan. 1.
“Since the earliest days of crypto, proponents have claimed that Bitcoin is the new gold. However, it seems that even for crypto ‘degens’, gold is still the most desirable asset when looking for a stable investment in times of uncertainty and volatility.
“The more Web3 grows, the more users and founders realize that even for DeFi, strong and reliable assets are needed to fuel the ecosystem. If we want to build a solid decentralized financial system, we must be able to hold assets and generate yield without constant fear of liquidation.
“Bringing reliable, stable assets like gold on-chain is an obvious solution and one that will see much more adoption in the coming months and years.”
– Rusher
Ontario Solana ETF approval an important milestone
“The news that the Ontario Securities Commission (OSC) has approved the world’s first spot Solana ETFs is no surprise – they were just waiting for the United States to approve the first futures trading product. What is surprising is that new ETFs will engage in staking – an industry first and something both the US and Canada have been very cautious about until now.
“This shows that financial institutions aren’t playing around with crypto anymore – they’re serious now. And while the US Securities and Exchange Commission (SEC) is still dragging its feet on the question of staking in ETH ETFs, this could be the test case they need to give the green light.
“Canada has historically led the way on spot crypto ETF approvals, with a spot BTC ETF launched years before the US finally caught up. It certainly won’t take years this time, though. No one wants to lose their competitive edge, and now, Canada has just upped the stakes by approving staking. The race is on now.”
– Chris Chung, founder of Solana-based swap platform Titan
Don’t worry about unfamiliar Layer 1s – Ethereum is fine
“Sunday’s Mantra token collapse points, once again, to the fact that investors and users must be very careful with new L1s, especially when they are hyped up by centralized interests. It should serve as a reminder that not all price action in DeFi is sustainable, especially on a project that hasn’t withstood the test of time.
“Meanwhile, though ETH’s price action has struggled lately, it’s only because it has no strong VC backing anymore. Yet Ethereum remains the most battle-tested and trusted blockchain in the DeFi space, with more rampant development activity than any other chain.
“This Mantra drama confirms that no matter what the new hype train is, when it comes to L1s, Ethereum remains King. It is a place of trust, and the best ecosystem to build a platform that attracts users, TVL, and will last past the current bull run.
“So, instead of fixating on ETH’s price action, we should be asking ourselves what the DeFi space truly needs to thrive. Is it hundreds of Layer 1s built for the latest trending sector? Or rather, a better choice of truly decentralized, secure, and sophisticated products built on blockchains that have proven themselves to be trustworthy time and time again.”
– Jean Rausis, co-founder of the decentralized finance ecosystem SMARDEX
Increased acceptance of crypto payments important, but UX is too
“The news that New York may soon allow state agencies to accept crypto payments demonstrates the growing acceptance of digital assets in the traditional financial ecosystem. Equally, we’re seeing increased interest in stablecoins, with banks and fintechs launching their own as competition heats up, and stablecoin-focused protocols raising tens of millions of dollars in funding.
“While payments certainly isn’t the sexiest use case for crypto, it’s Bitcoin’s original purpose, and the one development that signals mass adoption better than any other as it continues to grow. And its growth has been picking up – for example, stablecoin supply has been increasing steadily year-to-date. Payments underpin the entire world economy, so the more crypto rails are integrated into this system, the more legitimacy and longevity digital assets will gain.
“There is a caveat, however: crypto payments must be simple, seamless, and secure for mainstream adoption. Otherwise, if they are too complex, why would anyone – an individual or a government agency – choose crypto over fiat? For this to happen, we need cross-chain and account abstracted infrastructure that makes the user experience as intuitive as paying on Revolut or Venmo, while ensuring the security of assets.
“It’s not an easy task, but it’s a key area that builders in this industry must focus on as the world increasingly starts integrating crypto into everyday processes. There’s only one chance to get this right, and doing so will open the floodgates to mass adoption.”
– Harrison Seletsky, director of business development at digital identity platform SPACE ID