a16z Says Ethereum Still Controls More Than Half of Tokenized Asset Market
Summary
- a16z Crypto said Ethereum (ETH)-based tokenized assets totaled $15.7 billion, accounting for more than half of the overall market.
- a16z Crypto said BNB Chain, Solana (SOL), Stellar (XLM) and Liquid Network held tokenized assets worth billions of dollars.
- a16z Crypto said Ethereum's lead is driven by its first-mover advantage in the DeFi market and broader institutional adoption, while the tokenized asset market is spreading across multiple blockchain ecosystems.
Forecast Trend Report by Period
Ethereum (ETH) still holds the largest share of the tokenized asset market, according to an analysis from a16z Crypto.
In a recent post on X on May 27, a16z Crypto said tokenized assets on Ethereum totaled $15.7 billion, giving the blockchain more than half of the overall market. BNB Chain followed with $4 billion, ahead of Solana (SOL) at $2.2 billion, Stellar (XLM) at $1.7 billion and Liquid Network at $1.5 billion.
XRP Ledger (XRPL), ZKsync Era and Arbitrum (ARB) also each held about $1 billion in tokenized assets, the firm said.
a16z Crypto attributed Ethereum's lead to its first-mover advantage in decentralized finance, or DeFi, and expanding institutional adoption.
The firm also said the tokenized asset market is dispersing across multiple ecosystems rather than converging on a single blockchain. Different blockchains are being used based on differences in cost structures, liquidity, regulatory compliance requirements and go-to-market networks.
Uk Jin
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