RWA Weekly: SEC proposes 'Token Classification Framework,' Coinbase cancels $2 billion acquisition plan for BVNK This week, the RWA market growth trend stabilized, with the total on-chain market value reaching $35.91 billion. Growth has slowed, but the number of holders continues to grow strongly, surpassing 536,800. The stablecoin market maintains an 'efficiency-driven' model, with transfer volume approaching $5 trillion.