Friends trading meme coins in 2025, you may have already noticed some anomalies. Projects with unclear whitepapers have seen crazy surges, and their pullbacks are just as brutal. But the real opportunity has long shifted to the "real asset on-chain" track. If you had to pick one direction most likely to explode in 2026, tokenization of U.S. stocks is undoubtedly the top priority.

Let's look at some data first. According to DefiLlama and RWA.xyz, in 2025, the locked value in the RWA sector has surpassed decentralized exchanges, becoming the fifth largest category in DeFi. The entire sector has reached $25.7 billion, a 114% year-over-year increase—more than double the growth rate of the entire digital asset market. But this is just the surface.

Currently, most assets in the RWA market are concentrated in private credit and U.S. Treasuries. The real "killer app"—U.S. stock tokenization—has just begun. Just look at the current data: on-chain assets related to U.S. stocks amount to only $440 million, accounting for just 1.7% of the RWA market. This proportion is surprisingly low, but the hidden opportunities behind it are enormous.

Why do I say that? Because the scale of DTC-managed U.S. stock assets is $74.1 trillion—equivalent to 90% of the global GDP and more than 30 times the current total market cap of the crypto market. This means the potential market space for on-chain U.S. stocks has yet to be fully tapped. From a 1.7% penetration rate to large-scale adoption, the growth potential in between is enough to redefine the entire Web3 value distribution.