RWA is one of the fastest growing categories of DeFi. From Treasuries to Private Credit, many different types of RWAs have recently been launched on-chain.

In this report, we give an overview of RWAs and their growth in 2023.

🧵on the main takeaways 👇

galaxy.com/insights/resea… *Key Takeaways*
- Non-stablecoin RWAs grew by $1.05bn in 2023, $855.7m (82%) of which has come from yield-bearing assets.

- Most of the demand for RWAs is driven by crypto native users.

- Total market cap of RWAs is still 9.6% below the all-time high reached back in April 2022.

#Bitcoin didn’t cause the banking crisis. @intangiblecoins just sent a note to our clients and counterparties about the causes of the crisis and what the future holds for cryptocurrency adoption.

Read here 👇
glxy.galaxy.com/galaxy-researc… Signature Bank director Barney Frank told CNBC today that he thinks “part of what happened was that regulators wanted to send a very strong anti-crypto message” and that Signature Bank officials believed they had stabilized on Sunday and were ready to open “as a going concern.”

We compared the risk-adjusted returns of BTC & ETH to a handful of other global assets across asset classes. On almost every time frame, BTC is a top performer and ETH is THE top performer. Here’s the data from each asset’s early-COVID low to present (Jan. 25, 2023). Also in our weekly newsletter, we evaluated all ETH currently staked and unable to withdraw until post-Shanghai. Two-thirds of all staked ETH was locked on-chain at prices equal to or higher than current ETHUSD prices.

We sent market commentary to our clients this morning, along with a new report examining last year's massive funding of crypto/blockchain companies by venture capitalists. Read here: conta.cc/3EWN4Ct #Bitcoin had traded in a tight range between $45.5-48.5k over the last 8 days. Except for 5 days in Dec., BTC has traded in a descending channel since 12/4. 200d MA flipped from support to resistance, and a HNS pattern emerged. All points to $38-41k in the next several days.

#Bitcoin and #crypto are surging. Here are 10 Metrics that Show How:

1/ BTC & Inflation Expectations: Since bottoming at $29k, BTC has been on a 100-day run in tandem with inflation expectations. That means it's acting as both a risk-on asset AND a gold proxy. #bullish 2/ The Mining Scene:

BTC is made in America. Thanks to both the Chinese crackdown on crypto and friendly state regulation, the majority of BTC's hashrate is now US-based. In turn, the migration West has enabled BTC hashrate to quickly rebound, meaning BTC is as secure as ever

Yesterday, a big BTC seller dumped on OTC markets, sparking a price drop that expanded across the crypto market, leading to the largest forced futures liquidations since May 19, 2021.
report by @intangiblecoins & @kellyjgreer

Thread below 🧵 Thread with highlights below, but read the full note we sent to clients this morning here:
docsend.com/view/fjg7eqeaw…