RWA Tokenization Gains Traction as Bitcoin Rally Faces Liquidity Test

Crypto research this week sharpened around a single question: as institutional-grade infrastructure and 'real-world asset' (RWA) tokenization move from pilots to production, can decentralized finance regain relevance under tightening regulation and a more hostile macro backdrop? Across notes from Messari Research, Kaiko Research, Tiger Research, Crypto.com, and Alea Research, analysts converged on a common narrative—tokenized U.S.