This year, stablecoins and real-world asset tokenization (RWA) are megatrends, with Ethereum and Solana likely to be the biggest beneficiaries as infrastructure and applications mature. Industry research underscores the momentum: stablecoins have grown at a compound annual growth rate of about 63% since January 2021, and Coinbase projects the market cap could reach around $1.2 trillion by the end of 2028. RWA tokenization is also gaining traction, with tokenized stocks entering an early-stage expansion and enabling higher asset utilization and leverage.
Global asset managers, including 21Shares, expect robust expansion for stablecoins and RWA by year-end, with the DeFi total value locked around $300 billion. Analysts also project that stablecoins could triple to about $1 trillion and the RWA market could climb to roughly $500 billion, signaling a major structural reconfiguration. DeFi use cases are expected to broaden further, particularly around decentralized perpetuals and tokenized real assets, as CLARITY Act discussions in the United States solidify market structure.
Bitwise’s research highlights Ethereum and Solana as the likely beneficiaries of the regulatory and infrastructural shifts, reinforcing their roles as core networks. Despite a tilt toward cautious optimism, policymakers’ actions and macro liquidity remain key risks, and stablecoin dominance could rise further, potentially shifting cash-like liquidity toward these assets. Finally, the convergence of AI and prediction markets, along with trusted oracles, could expand DeFi activity, with annual prediction-market trading volumes hovering near $100 billion if regulatory headwinds ease.
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