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The total value locked (TVL) in real-world asset (RWA) tokenization protocols has seen a remarkable surge of almost 60% since February, reaching a new high of almost $8 billion as of April 26, according to a report by blockchain analytics and research firm Messari. This growth is attributed to a market preference for debt-based, high-yield investments, excluding fiat-backed stablecoins but including a variety of assets like commodities, securities, and real estate tokenization protocols. Additionally, the sector’s popularity among retail users has increased, with platforms focused on carbon markets and real estate, as well as tokenized U.S. treasuries and bonds, experiencing significant growth in both TVL and active user numbers.