In brief

• Crypto could enter a new bull cycle, with more capital flowing into the broader financial market

• RWA perps traded $2.2 trillion in Q3; a narrower structure is an important factor

• Tokenized stock is up 390% this year, but it still covers only a small portion of global stocks

• The biggest change may come from increasing the value of tokens, and this could determine which assets will truly benefit.

Read the original story: The five layers of finance may drive the next bullish crypto market, by BloFin Research at th.beincrypto.com