By The Numbers #3

889Digital
Dec 17, 2025
2 min read

Week of December 8-15

Executive Summary

This week’s on-chain tokenized real estate data shows continued stability with limited week-over-week movement. Total tracked market value reached $340.04M, increasing 0.11% from the prior week. RealT remains the dominant protocol, representing 45.79% of tracked assets, while overall market concentration remains high with the top three protocols accounting for 87.30% of the market. Notably, Lofty recorded its first marginal decline in total assets since tracking began, introducing the first observable contraction among top-tier protocols.

Dataset Limitations

Data for this report is sourced from the DeFiLlama Real Estate category only. This dataset does not track major tokenization platforms such as Figure, Securitize, Reental, and Blocksquare, and includes only the protocols listed under DeFiLlama’s Real Estate filter—not the full real-estate tokenization ecosystem.

Top KPIs

Total Real Estate Market Value	$340.04
Weekly Change	0.11%
Top Protocol Market Share (RealT)	45.79%
CR3 (Top 3 Concentration Ratio)	87.3%
Top 5 Market Share (Combined)	>95%

Leaderboard — Top 5 Protocols

Top 5 Protocols Weekly Change

Lofty reduced its total assets this week

Market Value

CR3 Market Concentration Chart

Notable Platforms Not Included

Major real estate tokenization platforms not reflected in this dataset include:

Blocksquare
Reental
Figure
Securitize
Propchain
EstateX
Parcl (synthetic real estate)
CitaDAO

These platforms significantly expand the true market size beyond what is visible on-chain through DeFiLlama.

Weekly Insights

Total on-chain market value increased modestly by 0.11%, reinforcing the steady, incremental growth pattern observed in prior weeks.
RealT continues to dominate the dataset, holding 45.79% of all tracked on-chain real estate assets.
Market concentration remains elevated, with the top three protocols (RealT, Lofty, Tangible) collectively accounting for 87.30% of total assets, while the remaining protocols represent 12.70% of the market.
Lofty experienced a slight asset decline (–0.01%), marking the first reduction in total assets among a top-five protocol since tracking began.
Lofty’s decline contributed to a small dip in CR3, highlighting how changes among large platforms can disproportionately affect overall market structure in a highly concentrated ecosystem.