Many RWA tokens are up more than 20%; $XDC leads with 32.6%, while $RIO gains 61.6% among smaller tokens.
TL;DR…
- Crypto Market Trends: Fear & Greed Index hits 84/100; Altcoin Season Index climbs to 62/100 as altcoins regain some dominance but still trail behind Bitcoin.
- RWA Sector Gains: Many RWA tokens are up more than 20%; $XDC leads with 32.6%, while $RIO gains 61.6% among smaller tokens.
- Market Cap Growth: RWA hits $47.8 billion, up 68.3% this month and 119.3% year-over-year, reaching April 2024 levels.
- RWA News: Ripple tokenizes abrdn’s fund; Ondo adds LayerZero; Outlier launches Base Camp; Casper to get cUSD stablecoin.
Even to the most skeptical eye, it’s hard to deny that the crypto market is showing extraordinary strength right now.
Bitcoin is near its all-time high, many altcoins have exploded, and the RWA sector is nearing its March 2024 peak market capitalization.
Let’s dive into this week’s RWA sector update.
Market Overview
>> 84/100.
That’s what the CMC Crypto Fear and Greed Index is currently sitting on. This is well into the “extreme greed” range and provides a succinct description of the current state of the crypto market.
Source: Bitcoin (BTC) Coin Page
Bitcoin (BTC) is hovering around $95,300 after briefly dipping to the low $91,000 range earlier this week.
Just inches from breaking the long-anticipated $100,000 threshold, the OG digital asset has carried the broader cryptocurrency market with it during its recent climb.
But Bitcoin's dominance has fallen recently as many altcoins begin to outpace its growth. This has also led to a rising Altcoin Season Index score, now at 62/100, close to its highest score in over three months.
Altcoins have steadily clawed back some market dominance from BTC but still comprise less than 43% of the total cryptocurrency market.
RWA Sector Recap
The last week has been a bullish time for Real World Asset (RWA) tokens.
Right now, the 20 largest RWA tokens by market capitalization are all in the green, with returns of 20% or more seen practically across the board.
XDC Network (XDC) is currently leading the top 10 RWA tokens by weekly returns—it's up 32.6%.
Despite its meteoric rise earlier in the month, MANTRA (OM) wasn’t able to sustain its rally. It's currently the worst-performing top 10 RWA token, though still up 1.1% in a week.
Zooming out and looking at the smaller RWA tokens, we find the following top performers:
- Brickken (BKN): gained 70.3%
- Realio Network (RIO): gained 61.6%
- Chia (XCH): gained 60.5%
But not all RWA tokens were quite so lucky. This week’s worst performers are:
- Alvara Protocol (ALVA): lost 12.8%
- NEOPIN (NPT): lost 1.3%
- Clearpool (CPOOL): lost 0.01%
Despite the impressive performance seen in the RWA sector this week, it's just the 12th-best-performing sector (out of 22) by mCap-weighted returns.
According to DefiLlama’s narrative tracker, the RWA sector achieved a seven-day mCap-weighted return of 10.8%. For comparison, Artificial Intelligence (in fifth place) saw a 20% gain, whereas Data Availability (in first place) grew by 29.5%.
The market cap of the RWA sector now stands at $47.8 billion—a figure not seen since April 2024. It is up 119.3% in a year and 68.3% in a month.
>> Click here to learn more about Real World Asset tokens.
RWA News Roundup
The RWA tokenization sector is a fast-moving space, but we’ve sifted through the most recent news, updates and developments to find this week’s most relevant stories.
>> Did you miss last week’s RWA update? Check it out here.
Ripple Unveils Tokenized Money Market Fund: Ripple and FCA-regulated Archax have tokenized abrdn's £3.8 billion ($4.8B) U.S. Dollar Liquidity Fund on the XRP Ledger. This initiative provides institutional investors access to tokenized real-world assets via Archax's regulated platform, enhancing liquidity and accessibility for traditional financial instruments.
Ondo Integrates LayerZero's Interoperability Protocol: Ondo Finance has integrated LayerZero's interoperability protocol to facilitate secure cross-chain transfers of its tokenized U.S. Treasuries product, USDY, across blockchains including Ethereum, Arbitrum, and Mantle, enhancing accessibility to real-world assets in decentralized finance.
Outlier Ventures Announces Second RWA Base Camp Accelerator Program: Outlier Ventures has initiated its second Real-World Assets (RWA) Base Camp accelerator, selecting seven startups focused on tokenizing assets across various industries. The 12-week virtual program, in partnership with Singularity Finance, aims to advance the adoption of tokenized RWAs.
Casper To Get RWA-Backed Stablecoin: RWY Protocol has announced plans to launch on the Casper Network, introducing cUSD, the ecosystem's first RWA-backed stablecoin, and offering tokenized real-world assets (RWAs) for yield generation. This initiative aims to enhance decentralized finance opportunities within the Casper ecosystem.
>> That’s all for this week’s RWA recap. Stay tuned for more insights next week!
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