Real-world assets (RWAs) in DeFi have exploded in 2025, surging from outside the top ten to the fifth-largest category with over $17 billion in TVL, surpassing DEXs. Ethereum dominates with more than $12 billion, driven by gold-backed tokens and institutional-grade protocols offering redeemability and liquidity. RWAs hold $17B+ TVL, ranking fifth in DeFi per DeFiLlama [...]