Risk-Off Capital Shifts Toward Tokenized Assets as DeFi Pulls Back

In brief

• Tokenized real-world assets grew 8.7% to $24.8 billion over the past month, even as the broader crypto market weakened.
• DeFi’s total value locked fell 25% to $94.8 billion, with major protocols posting double-digit declines.
• The divergence points to capital rotation rather than exit, as investors shift from DeFi yields into lower-risk, tokenized assets, Decrypt was told.