2 underrated metrics from @DefiLlama that matter for RWA adoption:
1) DeFi active tvl: Shows what % of tokenized assets are being used vs. just custodied. Currently: Only $1.15B of $13.9B RWA market cap is deployed in protocols (that's 8%!). 92% of "onchain" institutional assets are sitting idle... we haven't solved for productive capital deployment yet.
2) Active mkt cap: strips out treasury/team addresses to show what's actually circulating. Ex: TBLLx shows $529M total vs $100K active... this implies either permissionless wrappers aren't gaining traction, or reserved capacity hasn't converted to real deployment.
The spread b/t these metrics reveals the real work: it's not issuance (we have $20B tokenized), it's utility. Until RWAs can be collateralized, looped, & composed in DeFi easily/without breaking compliance, they're just expensive databases.
We don't need the 47th T-bill token... we need infra that makes the first 46 productive.
Rewards
TBLL tokenized ETF (xStock) (TBLLX)
$ 106.25 (TBLLX/USD)
0.00%
24H
TBLL tokenized ETF (xStock) Live Price data
Today's price of TBLL tokenized ETF (xStock) Is $ 106.25 (TBLLX/USD). With A Market Cap Of $ 26.27M USD. 24-Hour Trading Volume Of $ 112.09 USD, A 24-Hour Price Change Of +0.00%, And A Circulating Supply Of 247.25K TBLLX.
TBLL tokenized ETF (xStock) TBLLX Price History USD
Track the price of TBLL tokenized ETF (xStock) for today, 7 days, 30 days and 90 days
Period
Change
Change (%)
Today
$ 0
0.00%
7days
$ 0.45
0.43%
30days
$ 0.45
0.43%
90days
$ 0.45
0.43%
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TBLL tokenized ETF (xStock) Market Information
$ 106.25 24h Range $ 106.26
All time high
$ 106.26
All time low
$ 104.93
24h Change
0.00%
24h Vol
$ 112.09
Circulating supply
247.25K
TBLLX
Market cap
$ 26.27M
Max supply
--
Fully diluted market cap
$ 26.27M
Trade TBLLX
TBLL tokenized ETF (xStock) X Insight
Olivia Vande Woude
OnChain_Analyst
DeFi_Expert
A
2.3K @cryptoreine Extremely Bearish
Only 8% of RWA are active; need to improve on-chain utilization and real circulating market cap.
DefiLlama.com D
369.1K @DefiLlama Which RWAs are actually being used in DeFi? Which are true permissionless assets and which are ledger entries?
Introducing the new DefiLlama RWA dashboard.
450+ RWAs tracked & classified by:
* Transferability
* Redeemability
* KYC requirements
* Self custody options
* Asset class
Plus two new metrics: DeFi Active TVL & Active Marketcap.
DeFi Active TVL represents the proportion of an asset that’s actually being used in DeFi and not sitting idle, to clearly gauge whether they’re productive.
Active Marketcap is the portion of a coin's marketcap that excludes internal addresses such as treasuries and team addresses, to show what’s in users’ hands onchain rather than closed loops or internal bookkeeping.
11
4
1.1K
2026-02-13 17:27
Trend of TBLLX after release
Bearish
Only 8% of RWA are active; need to improve on-chain utilization and real circulating market cap.
About TBLL tokenized ETF (xStock)
TBLL tokenized ETF (xStock) (TBLLX) is a cryptocurrency and operates on the Solana platform. TBLL tokenized ETF (xStock) has a current supply of 247,250. The last known price of TBLL tokenized ETF (xStock) is 106.17 USD and is down -0.01 over the last 24 hours. It is currently trading on 1 active market(s) with $65.98 traded over the last 24 hours. More information can be found at https://xstocks.com.
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