By The Numbers #4

889Digital
Dec 23, 2025
2 min read

Week of December 15–22

Executive Summary

This week’s on-chain tokenized real estate data continues to reflect a slow and steady market environment. Total tracked market value reached $340.41M, increasing 0.11% week over week. RealT remains the dominant protocol, representing 45.78% of tracked assets, while overall market concentration remains unchanged, with the top three protocols accounting for 87.30% of total assets. Activity across protocols appears muted, potentially influenced by the holiday period, with only modest shifts among leading platforms.

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	$340.41M
Weekly Change	+0.11%
Top Protocol Market Share (RealT)	45.78%
CR3 (Top 3 Concentration Ratio)	87.30%
Top 5 Market Share (Combined)	>95%

Leaderboard — Top 5 Protocols

Top 5 Protocols Weekly Change

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%, maintaining the same slow growth pace observed in recent weeks.
RealT continues to lead the dataset, holding 45.78% of all tracked on-chain real estate assets and continuing its gradual expansion.
Market concentration remains elevated and unchanged, with the top three protocols collectively accounting for 87.30% of total assets.
Lofty reduced total assets and market share for the second consecutive week, reinforcing early signs of softening activity among top-tier platforms.
Tangible remains the fastest-growing protocol for the second week in a row, standing out amid otherwise muted market movement.
Vesta Equity has shown no change in assets since tracking began, indicating static on-chain exposure within the dataset.
Holiday timing may be contributing to reduced activity, with minimal week-over-week movement across most protocols.