RWA blockchain Plume hits $110m as sector reaches $13bn

Plume Network, a Layer 1 blockchain developed by US-based Plume Foundation, is capitalizing on the growing demand for real-world asset (RWA) tokenization. The platform, which focuses on bringing tangible financial assets like real estate, bonds, and commodities onchain, has surpassed $110 million in total value locked (TVL) — a 200% jump in the past month, according to DefiLlama.

Its rise aligns with a broader market trend, as the total value locked in RWAs nears $13 billion. A joint report from Boston Consulting Group and Ripple projects tokenized assets could reach a $19 trillion market cap within the next eight years.

Launched on June 5, Plume’s mainnet debut saw over 50 protocols go live, including major names like Morpho and Curve. The network now boasts over 200 deployed protocols, 20 million transactions, and 110,000 users. Its largest projects, Pell Network and DeSyn Protocol, each hold over $53 million in deposits.

Despite operational growth, Plume’s native token is down 65% from its March 19 high, currently valued at over $210 million. The network also faced a tragic setback with the death of co-founder Eugene Shen in late May, coinciding with a 30% drop in token price.

Meanwhile, industry leaders like BlackRock are accelerating RWA adoption. Its tokenized money market fund, BUIDL, has already attracted over $1 billion in 2024, as the total crypto market eyes a larger share of tokenized real-world assets.

Source: DLNews

Voice of Osiz

The rapid growth of Plume Network highlights how real-world asset tokenization is no longer a niche concept — it’s becoming a defining force in DeFi. The surge in RWA protocols and rising institutional interest signal a major shift in onchain finance. We believe integrating tangible assets with blockchain ecosystems will unlock new liquidity channels and investment opportunities for global markets.