CoinMeta data: According to cryptorank, citing DefiLlama data, as of September 18th, the management scale of real-world assets on the chain ( RWA ) was approximately $34 billion. Of this, only about 11.3% was deployed in DEFI, corresponding to a total locked-up value ( TVL ) of around $3.84 billion. The remaining approximately 89% has not yet entered DEFI. The deployed funds are highly concentrated, with private credit accounting for 58% at $2.22 billion in TVL. Bonds, commodities, and stocks accounted for approximately $817 million, $314 million, and $287 million respectively. These four types of assets together comprise nearly 95% of RWA DEFI TVL.