@听澜321 a tokenization is still small compared to the traditional market, but that doesn’t invalidate its potential. The real challenge will be to create interoperability, liquidity, and clear rules without losing the efficiency of the 24/7 market.
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听澜321
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#IMF IMF poured a bucket of cold water on tokenization 🤯, but honestly, it’s all just plain facts. Because the data is right there: tokenized buybacks are in the range of tens of billions per day, while the traditional buyback market is only 1.3 trillion per day. The gap isn’t small at all.
What’s interesting, though, is that retail investors really do “buy into” 24-hour trading and odd-lot buying/selling. How so?
Let me put it in human terms:
#IMF just released a report, and the core message is basically one sentence: the tokenized market is growing fast, but the pool is too small—and everything is walled off, like isolated compartments. It’s basically a “small pond.”
The numbers are a bit painful:
Tokenized buybacks average 300–350 billion USD per day,
and tokenized stocks, funds, etc. combined are only 65 billion USD,
compare that to: the US traditional buyback market is 13 trillion USD per day, and global capital market assets are 300 trillion USD 🤯
So it means tokenization still can’t even be counted as a fraction of traditional finance.
My take: fragmentation is actually an opportunity.
IMF talks about “fragmentation” as a problem—things can’t connect between platforms, liquidity is split, and network effects don’t really form.
But look at it another way:
Fragmentation = early stage. In any emerging market’s early days, it’s basically a mess everywhere. DeFi in 2017 was also a bunch of islands—later, Uniswap gathered liquidity. Tokenization now lacks exactly that kind of “aggregation layer.”
So don’t be scared by the “small scale.” 65 billion is tiny by traditional finance standards—but on-chain, it’s already proof that it can work. Going from 0 to 65 billion is hard; going from 65 billion to 650 billion—the path is already clear.
But let me also talk about the risks...
IMF’s warning isn’t without reason: once the scale gets bigger, the usual problems from traditional finance—sell-offs, bank runs/raids, contagion—will show up too. And because blockchain moves faster, they could hit even harder.
24/7 trading is great, but without circuit breakers and without market-closure buffers, when something goes wrong, you don’t even get a chance to catch your breath.
One last note: on the surface, this IMF report is “pouring cold water,” but in reality it’s “pointing the way.” It explains the issues clearly: law, regulation, interoperability, and settlement assets.
Whichever of these gets solved, whoever solves them gets to enjoy the next wave of dividends.
What do you think about this report? Feel free to leave a comment 😊
#IMF称代币化市场仍小且碎片化
What’s interesting, though, is that retail investors really do “buy into” 24-hour trading and odd-lot buying/selling. How so?
Let me put it in human terms:
#IMF just released a report, and the core message is basically one sentence: the tokenized market is growing fast, but the pool is too small—and everything is walled off, like isolated compartments. It’s basically a “small pond.”
The numbers are a bit painful:
Tokenized buybacks average 300–350 billion USD per day,
and tokenized stocks, funds, etc. combined are only 65 billion USD,
compare that to: the US traditional buyback market is 13 trillion USD per day, and global capital market assets are 300 trillion USD 🤯
So it means tokenization still can’t even be counted as a fraction of traditional finance.
My take: fragmentation is actually an opportunity.
IMF talks about “fragmentation” as a problem—things can’t connect between platforms, liquidity is split, and network effects don’t really form.
But look at it another way:
Fragmentation = early stage. In any emerging market’s early days, it’s basically a mess everywhere. DeFi in 2017 was also a bunch of islands—later, Uniswap gathered liquidity. Tokenization now lacks exactly that kind of “aggregation layer.”
So don’t be scared by the “small scale.” 65 billion is tiny by traditional finance standards—but on-chain, it’s already proof that it can work. Going from 0 to 65 billion is hard; going from 65 billion to 650 billion—the path is already clear.
But let me also talk about the risks...
IMF’s warning isn’t without reason: once the scale gets bigger, the usual problems from traditional finance—sell-offs, bank runs/raids, contagion—will show up too. And because blockchain moves faster, they could hit even harder.
24/7 trading is great, but without circuit breakers and without market-closure buffers, when something goes wrong, you don’t even get a chance to catch your breath.
One last note: on the surface, this IMF report is “pouring cold water,” but in reality it’s “pointing the way.” It explains the issues clearly: law, regulation, interoperability, and settlement assets.
Whichever of these gets solved, whoever solves them gets to enjoy the next wave of dividends.
What do you think about this report? Feel free to leave a comment 😊
#IMF称代币化市场仍小且碎片化
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