This week, the total on-chain RWA market value steadily increased to $22.59 billion, with holders surpassing 640,000, growth still driven by user expansion; The total stablecoin market value slightly decreased to $296.19 billion, while monthly transfer volume soared to $8.99 trillion, turnover rate jumped to 30.3x. The market has entered a high-turnover phase for existing funds, with incremental capital slowing down.