🚨 The crypto market is becoming a new buyer of US treasury bond bonds? You read it right! In the past year, we have seen more and more stablecoins and RWA agreements begin to allocate to US bonds, and this trend is no longer just an "attempt", but a "structural participation". What is the current level of holdings of short-term US Treasury bills in the cryptocurrency market? ✅ US Treasury bonds in stablecoin reserves: Currently, USDT and USDC hold a total of approximately $125 billion in T-bills, It accounts for more than 56% of the total $220 billion stable currency market, and accounts for more than 95% of the holdings of all "treasury bond bond collateral stable currency". ✅ Tokenized treasury bond products (RWA): There are currently 32 tokenized Treasury products in the market, with a total size of approximately 5.213 billion US dollars. As a conservative estimate, 99% of them are T-bills, corresponding to an asset size of approximately $5.1 billion. 🧮 From a combined perspective, the current actual holdings of T-bills in the cryptocurrency market are approximately $130 billion, accounting for 2% of the total amount of T-bills circulating outside the US Treasury Department (approximately $6.3 trillion). How much US Treasury can the future cryptocurrency market swallow? We infer the mid-term absorption capacity (2-5 years) from three paths: one ️⃣ Stablecoin expansion Assuming the market value of stablecoins expands to $500 billion 70% of them will continue to allocate T-bills → $350 billion absorption capacity two ️⃣ RWA protocol outbreak The current market value of tokenized funds is only 5 billion, but the size of TradFi money market funds is as high as 6 trillion US dollars If the cryptocurrency market only absorbs 2-3% of it, it corresponds to a potential of 100-200 billion US dollars three ️⃣ DAO and DeFi Treasury Structure Adjustment If top DAOs and DeFi protocols allocate 30% of their vault assets to T-bills Can contribute an additional 10-30 billion US dollars 📈 In the next two to five years, the encryption market will be able to absorb 300 billion to 600 billion U.S. short-term treasury bond bonds structurally, accounting for 5 to 10% of the existing market. The cryptocurrency market is gradually connecting the world's largest pool of low-risk assets and becoming a new participant in the global fixed income system. RWA DeFi Stablecoins TokenizedTreasuries USDT USDC BUIDL Web3 Finance institutionadoption Crypto TradeFi ghbli OpenAI ChatGPT