Market Pulse
Every major on-chain RWA movement, paired with Tokomine analyst context. Not just what moved — but why it matters.
TVL Gainers
Goldfinch gained 43.3% TVL this week despite 2 active risk flags — core metrics remain steady with no material credit events. Monitor custodian concentration before treating this as a clean breakout.
OpenEden gained 34.7% TVL this week despite 1 active risk flag — core metrics remain steady with no material credit events. Monitor custodian concentration before treating this as a clean breakout.
MakerDAO gained 1.6% TVL this week despite 1 active risk flag — its improving fundamentals support continued inflows. Monitor custodian concentration before treating this as a clean breakout.
Ondo Finance gained 0.1% TVL this week despite 2 active risk flags — core metrics remain steady with no material credit events. Monitor custodian concentration before treating this as a clean breakout.
TVL Decliners
Centrifuge fell 5.9% TVL this week — core metrics remain steady with no material credit events. The primary concern flagged in Tokomine's model remains: default risk on underlying loans. Watch for further outflows if macro conditions tighten.
BlackRock fell 3.2% TVL this week — its improving fundamentals support continued inflows. The primary concern flagged in Tokomine's model remains: highly permissioned. Watch for further outflows if macro conditions tighten.
Backed Finance fell 2.1% TVL this week — its improving fundamentals support continued inflows. The primary concern flagged in Tokomine's model remains: offshore jurisdiction for us users. Watch for further outflows if macro conditions tighten.
Tether fell 0.1% TVL this week — elevated risk factors are weighing on market confidence. The primary concern flagged in Tokomine's model remains: opaque reserve attestations. Watch for further outflows if macro conditions tighten.
Maple Finance gained 0.0% TVL this week despite 2 active risk flags — caution is warranted — ongoing review may affect the rating. Monitor custodian concentration before treating this as a clean breakout.
Franklin Templeton gained 0.0% TVL this week despite 2 active risk flags — core metrics remain steady with no material credit events. Monitor custodian concentration before treating this as a clean breakout.