RWA Weekly: Nasdaq seeks approval from the US SEC for stock tokenization, Stuttgart Stock Exchange launches pan-European tokenized asset settlement platform Seturion This week, the total on-chain market value of RWA continued steady growth, but the number of asset issuers dropped significantly, indicating the market is entering a structural clearing phase; while the market value of stablecoins increased, monthly active addresses saw a sharp decline, showing a trend of retail liquidity deterioration and institutional dominance.