Here’s what happened in crypto today

Today in crypto, tokens and coins on CoinMarketCap near 11 million unique listings, Onchain real-world assets (RWAs) are gaining traction as Bitcoin’s price struggles, with market commentators predicting total value locked (TVL) could hit $50 billion in 2025 as demand grows, and Florida Republican Senator Joe Gruters proposed a portion of the state funds be invested in Bitcoin.Total cryptocurrencies listed on CoinMarketCap near 11 million unique offeringsThe total number of crypto tokens and coins listed on CoinMarketCap is nearing 11 million unique digital asssets.Traders and investors have raised concerns about the proliferation of cryptocurrencies and the effect on markets, which analysts argue are already overcrowded.Popular market trader and analyst Ali Martinez predicted that the over-saturation in cryptocurrencies might cancel out the anticipated rotation of capital into altcoins and the sustained price rally known as altcoin season.As the total supply of unique cryptocurrencies grows, so will the strain on mindshare and limited capital flowing in the space — potentially causing projects and tokens to consolidate. Onchain real-world assets gain traction amid Bitcoin market uncertaintyReal-world assets (RWAs) are gaining traction as investors seek stable, yield-generating alternatives amid Bitcoin’s recent price stagnation and global market uncertainties.RWA tokenization refers to financial products and tangible assets like real estate and fine art minted on the blockchain, increasing investor accessibility and trading opportunities of these assets.Bitcoin fell below the $100,000 psychological mark on Feb. 4 after investor sentiment was hit by global trade war concerns following new import tariffs announced by the US and China.Bitcoin’s lack of momentum may attract more investment into RWAs, wrote Alexander Loktev, chief revenue officer at P2P.org, an institutional staking and crypto infrastructure provider.Bitcoin’s crab walk may lead to new all-time highs for onchain RWAs in 2025, Loktev told Cointelegraph, adding:“Given the recent moves we’ve seen from major financial institutions, particularly BlackRock and JPMorgan’s growing involvement in tokenization, I believe we could hit $50 billion in TVL.”Traditional finance (TradFi) institutions are “starting to view tokenized assets as a serious bridge to DeFi,” driven by institutions looking for digital asset investments with “predictable yields,” added Loktev.Florida Sen. Gruters proposes Bitcoin investment bill for state fundsFlorida Republican Senator Joe Gruters has introduced a bill proposing the investment of part of the state’s funds in Bitcoin and other digital assets to counter rising inflation. It follows a string of other US states recently moving toward the same goal.“The state should have access to tools such as Bitcoin to protect against inflation,” Gruters said in a Feb. 7 bill introduced to the Florida Senate.“Inflation has eroded the purchasing power of assets held in state funds managed by the chief financial officer,” he said.Gruters highlighted major asset management firms such as BlackRock, Fidelity, and Franklin Templeton already adopting Bitcoin and viewing it as a “hedge against inflation,” along with Bitcoin having “greatly risen in value” and becoming more widely accepted as an international medium of exchange as reasons Florida should consider investing state funds in the asset class.