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first_img The market value of RWA on the Stellar blockchain approaches 4 billion USD, with an annual growth of about 360%

According to Cointelegraph, the market value of tokenized real-world assets (RWA) on the Stellar blockchain is expected to grow by approximately 360% by 2026, rising from $868.8 million at the end of last year to nearly $4 billion. The Dune Analytics dashboard maintained by Stellar shows that as of August 29, the market value of RWA on the network reached $3.996 billion, covering asset classes such as U.S. Treasury bonds, private and public credit, and non-U.S. government debt.The concentration of issuers is relatively high, with Spiko leading at $1.55 billion, followed by Realiz ($559 million), Tradable ($548 million), Franklin Templeton ($546 million), and Ondo ($535 million). Stellar has also made breakthroughs in the non-U.S. government debt sector, with the Stellar Development Foundation citing data from RWA.xyz stating that as of August 20, the network held approximately $490 million in such assets, including tokenized Mexican CETES and Brazilian government bonds issued through Etherfuse.Institutional adoption continues to drive growth. In May, the Depository Trust & Clearing Corporation (DTCC) announced plans to integrate its tokenization services with Stellar, with DTC tokenized assets expected to go live in the first half of 2027, potentially supporting tokenized U.S. Treasury bonds, major index ETFs, and Russell 1000 constituents. In July, Tradable announced plans to bring up to $1 billion in private credit assets to Stellar.

hot_img Grayscale CEO: The crypto winter is over, but the market still ignores the long-term value of digital assets

According to a report by Fortune, Grayscale CEO Peter Mintzberg wrote that Bitcoin surged about 20% last week, marking the strongest three-day increase of 2023, as the crypto winter gradually thaws. However, he warned that market observers are still overly focused on short-term price fluctuations, neglecting the long-term structural growth of digital assets.Mintzberg emphasized two core driving forces: first, institutional demand continues to expand, with daily inflows into Bitcoin spot ETPs exceeding $500 million in 2025, approximately 12 times the daily new supply from miners; a 2026 EY survey shows that 73% of institutional investors plan to increase their allocation to digital assets. Second, the adoption of blockchain by enterprises is accelerating, with about 60% of Fortune 500 executives indicating that their companies are advancing blockchain projects in 2025, and companies like Fidelity, Visa, and Stripe are all positioning themselves in the stablecoin business. He also pointed out that AI and public chain technology are complementary, and new demands such as machine-native micropayments and cross-border instant settlements will further drive the implementation of blockchain. As the regulatory framework becomes increasingly clear, digital assets are accelerating their integration into the mainstream financial system.

first_img Viewpoint: The AI application layer should not be priced based on tokens, but should be anchored to "recognizable work value."

a16z partner Sarah Wang recently published an article pointing out that AI application layer products should not price based on tokens like the model layer, but rather on "recognizable work units." The article argues that token pricing anchors the value of application products to a unit whose cost is continuously declining, making it difficult for customers to predict context length, retrieval volume, or reasoning time, and improperly compares applications to raw computing power.The article suggests a tiered pricing model based on value levels: model layer priced by tokens; application layer priced by recognizable work units for customers (such as account research briefs, code modifications, completed queries), which can be encapsulated through Credits; and scenarios that are attributable and have clear value priced directly by results (such as resolved customer service conversations, qualified leads). The design of Credits should map to different levels of work difficulty to protect gross margins and distinguish "work value" from "delivery cost." The article uses Clay as an example, where its new pricing separates Data Credits (third-party data) from Actions (orchestrated work), only passing on costs for reasoning models with significant cost fluctuations without markup. The author believes that pricing anchored to value rather than computing cost allows customers to understand spending in relation to value, while also benefiting product providers in maintaining profit margins.
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