RWA's of all kinds have taken the crypto sphere by storm the last couple years with no signs of slowing down From freight trains of the sector like @tethergold and @BlackRock 's BUIDL fund To projects like @Collector_Crypt, offering a tokenized counterpart for Pokémon cards. Which have exploded exponentially in recent times However, the revenue amongst the sector as a whole is extremely concentrated. With the top 5 protocols capturing 93.6% of all revenue, & the top 10 capturing a whopping 98.2% @Grayscale alone accounts for $36m (~77% of the total) Makes sense that the trad-fi asset-manager giant leads the sector in revenue QTD. Although I do see that landscape possibly shifting to more consumer products/applications as the sector matures Below is the top 15 RWA protocols by QTD revenue, dominated by trad-fi funds for the time being (data per @DefiLlama AI & @llama )