Cryptocurrencies that are centered around Real World Assets (RWA) have been experiencing significant growth and fluctuations in recent months. This sector, which involves the tokenization of physical assets and properties using Blockchain technology, has seen dynamic shifts in market value. From nearly $9 billion earlier this year, the market has recently dropped to around $6 billion due to a broader correction in the cryptocurrency market. Despite this, there are some standout players in this field that have shown remarkable performances and future growth potentials. Let’s take a look at these cryptocurrencies.
Ondo Finance (ONDO)
Ondo (ONDO) is currently the largest cryptocurrency in the RWA sector with a market value of approximately $1.4 billion and a trading price around $1. Launched in January 2024, Ondo quickly gained attention and reached an all-time high of around $1.50 in June. Ondo serves as the governance token for Ondo Finance, a New York-based company that focuses on tokenizing traditional financial assets like bonds and US Treasury bonds. Despite its rapid rise and subsequent correction, Ondo remains a cryptocurrency to keep an eye on.
Mantra (OM) and Pendle
Mantra (OM), with a market value of over $700 million, is another significant player in the RWA market. Launched in August 2020, Mantra reached its peak price of $1.09 last month. Despite the general downturn in the cryptocurrency market, OM has seen an impressive annual increase of 3,000%, making it one of the top 100 cryptocurrencies that have gained recently.
Pendle (PENDLE), a Blockchain protocol that focuses on fixed incomes and yield tokenization, offers decentralized financial services. Designed to operate on multiple Blockchains, Pendle incorporates automated market making for efficient trading. Pendle reached an all-time high of over $7 this April. However, it was heavily affected by the recent market crash and is currently trading around $3.80.
Chromia (CHR)
Chromia (CHR) is a Blockchain platform and cryptocurrency that aims to provide scalable and decentralized infrastructure for decentralized applications (dApps) and games, offering a unique value proposition. Chromia’s price has bucked negative market trends and surpassed the $0.26 mark with a daily increase of 8%. This rally coincided with Chromia joining the AWS Partner Network, significantly increasing its visibility and accessibility. The Chromia team has highlighted this success, stating that they will connect Chromia’s infrastructure to the AWS Marketplace, which is accessed by millions of customers. Additionally, the launch of Chromia’s MVP Mainnet on July 16 is expected to further solidify its market position.
Please note that the information provided in this article is not investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and should conduct their own research before making any investment decisions. Follow our news on Telegram, Facebook, Twitter, and Coinmarketcap.
