Research Summary
The report discusses the growth of Real World Assets (RWA) in the crypto industry, with a focus on tokenized treasury products and applications like Ondo Finance. It also highlights the rise of Telegram’s TON blockchain token and the potential for crypto adoption through platforms like DeDust. The report further provides insights into the risks associated with smart contracts and upcoming crypto events.
Key Takeaways
Growth of Real World Assets in Crypto
- Increasing Popularity of RWA: The report notes that Real World Assets (RWA) are becoming increasingly popular in the crypto industry. Tokenized treasury products have nearly doubled since the start of the year and increased tenfold since 2023.
- Ondo Finance’s Success: Ondo Finance, an application that tokenizes assets like US Treasuries, has seen strong and steady growth this year. Its Total Value Locked (TVL) has doubled since April and grown nearly 20% in the last week.
Telegram’s TON Blockchain Token
- TON’s Market Cap Growth: Telegram’s TON blockchain token recently broke into the top 10 coins by market cap, surpassing Cardano and reaching a $16B market cap. TON’s TVL, excluding liquid staking, is up over 20x since the start of 2024.
- DeDust’s TVL Growth: DeDust, a Decentralized Exchange (DEX) built on TON, has seen its TVL grow nearly 70% in the last week, breaking through the $100M mark.
Smart Contract Risks
- Security Concerns: The report warns of the risks associated with smart contracts, noting that one click can drain an entire wallet. It recommends using tools like the Pocket Universe browser extension to analyze transactions before signing and protect against potential scam transactions.
Actionable Insights
- Explore Real World Assets in Crypto: Given the increasing popularity of RWA in the crypto industry, it may be beneficial to explore this sector further. Understanding the mechanisms and potential of tokenized treasury products could provide valuable insights.
- Monitor Growth of TON: With the significant growth of Telegram’s TON blockchain token, it could be worthwhile to monitor its progress and understand the factors contributing to its success.
- Consider Security Measures: Given the risks associated with smart contracts, it may be prudent to consider security measures such as transaction analysis tools to protect against potential scams.
