The 2024 RWA report released by CoinGecko and sourced from ChainCatcher has shed light on the current state of real-world assets (RWA) in the cryptocurrency world. According to the report, the majority of RWA are stablecoins pegged to the US dollar, with the top three USD-pegged stablecoins accounting for a remarkable 95% of the market share.

Tether (USDT), with a market cap of $96.1 billion, remains the dominant force, comprising 71.4% of the market share. This significant lead is a testament to the trust and confidence that investors have in Tether as a stable and reliable store of value.

The report also highlights that stable assets other than those pegged to the dollar constitute only 1% of the market. This minor segment includes Euro Tether (EURT), Offshore Chinese Yuan Tether (CNHT), Mexican Peso Tether (MXNT), Euro Dollar (EURD), StasisEuro (EURS), and TRYB. These alternative stablecoins are significantly less popular, with a combined market cap of only $1.5 billion.

The stablecoin market cap has experienced a remarkable growth trajectory, skyrocketing from $5.2 billion at the start of 2020 to an all-time high of $150.1 billion in March 2022. Although the market experienced a decline during the bear market, it has since experienced a marginal rise of 4.9% in 2024, moving from $128.2 billion at the year's beginning to $134.6 billion by February 1.

In conclusion, the dominance of stablecoins in the cryptocurrency market is a clear indication of the growing importance of these digital assets in the financial landscape. Tether's significant lead is a testament to its reliability and trustworthiness, and its market cap is a reflection of its widespread adoption and use.