RWA holders increase, but trading remains sparse: the liquidity problem is more serious than imagined
The number of RWA holders is growing rapidly, but most tokenized assets have virtually no secondary-market trading, and liquidity remains a serious problem. The 671 tokenized assets surveyed by Pantera Capital have a total value of $331.8 billion. Products requiring whitelists account for 59% of market capitalization but contribute just 0.2% of spot trading volume; BUIDL has $2.77 billion in holdings and 106 investors, but recorded only 191 transfers in a single month.