RWA tokenization grows 18.1x to $44.6B, testing LINK, XLM, ONDO

Tokenized real-world assets excluding stablecoins have grown 18.1x to $44.6 billion in three years, driven by institutional demand for yield-bearing products.

Tokenized U.S. Treasury bills lead the market at $15.1 billion, followed by active yield strategies at $8.9 billion and private credit funds at $6.4 billion, according to Token Terminal data.

Ethereum remains the dominant Layer 1 settlement layer, accounting for roughly one-third of the tokenized asset market. Stellar and Avalanche have emerged as important issuance rails for institutional funds. Ondo Finance issues yield-bearing traditional assets such as U.S. Treasuries on-chain. Chainlink provides oracle infrastructure and CCIP connections between off-chain financial data and on-chain assets. Stellar offers a fast, cost-effective settlement environment and hosts products such as Franklin Templeton's tokenized money market fund.

LINK is approaching its weekly 200-EMA near $13.83 after an August rebound. XLM tested the 200-day EMA in August but was rejected, with $0.30 and $0.50 as key levels if resistance flips. ONDO's ascending trendline from early February is critical — a breakdown could deepen the correction, while flipping the weekly 50-EMA could open $0.60 and $0.85.

LINK Faces Weekly 200-EMA Test Near $13.83

LINK has already bounced from an important demand area during August and is now heading toward the 200-EMA on the weekly chart near $13.83. That's the level bulls need to deal with. A weekly breakout above that resistance could strengthen the case for a longer-term recovery and open the door to higher levels. Failure, however, could send LINK back toward lower support zones. The setup is promising, but the chart still needs confirmation rather than another speculative move.

XLM and ONDO Face Divergent Technical Signals

XLM is showing a constructive setup after rising from a major ascending trendline that has previously triggered important price moves. The token tested the 200-day EMA in August but has so far been rejected. If that resistance is eventually flipped on the weekly chart, $0.30 and $0.50 become important levels to watch. There's a catch, though — a weekly death cross between the 50-EMA and 200-EMA has formed. If selling returns, losing the ascending trendline could expose XLM to lower supports.

ONDO may have the most fragile setup of the three. Since early February, its weekly chart has maintained an ascending trendline following a major H2 2025 crash. That trendline is now critical. A breakdown could deepen the correction and potentially lead to a continuation pattern with new all-time lows forming ahead. On the other hand, ONDO has not flipped its weekly 50-EMA since September 2025. If it finally does, $0.60 and $0.85 could become relevant recovery targets.

The RWA market is growing rapidly, but that doesn't automatically guarantee token prices will follow. LINK, XLM, and ONDO have exposure to an expanding tokenization ecosystem — now their charts need to prove that institutional growth can translate into sustained demand.

This article is for informational purposes only and does not constitute investment advice.