RWA adoption is expanding beyond tokenized treasuries. the tokenized real-world asset market has reached $39.3b, but the demand is coming from different parts of the market. treasuries: $14.7b, or 37% of the market, remain the largest segment. commodities: tokenized value climbed 2.6x this year to around $8b, driven largely by gold-backed assets. perpetuals: RWA trading volume more than doubled in Q3, reaching $2.57t as traders gained more access to stocks and commodities. tokenized stocks: just 8% of asset value, yet responsible for 93% of onchain spot volume. that last figure is worth watching. it suggests tokenized stocks are attracting trading activity far beyond their share of the total market. RWA growth isn't just about putting traditional assets onchain anymore. it's about how people trade, hold and use them across crypto markets. #BTC Price Analysis# #Macro Insights# #RWA $BTC $PUMP