The CMC Fear and Greed Index now sits at 87/100, its highest value in over six months.
TL;DR…
- BTC nears $100K, altcoins lag in Phase 1 dominance: Bitcoin's dominance at 60.7%; November gains hit 38.5% with historical trends hinting at more to come.
- RWA sector surges, led by MANTRA's 125% rally: Sector's market cap jumps 18% to $39.3B; Cathie Wood’s Ark Invest signals bullish sentiment.
- Tether unveils RWA tokenization platform Hadron: Simplifies tokenizing stocks, bonds, and commodities; Netherlands-based fintech launches MiCAR-compliant EURQ and USDQ stablecoins.
- Major RWA developments expand market scope: RWY Protocol to become Casper's first RWA solution; Elixir and Securitize launch DeFi RWA vaults;d Huma Finance’s PayFi debut on Solana boosts real-world on-chain adoption.
The CMC Fear and Greed Index now sits at 87/100, its highest value in over six months. China is rumored to be on the verge of unbanning Bitcoin and BTC is now just inches away from $100,000.
It’s safe to say there’s a serious sense of euphoria in the cryptocurrency market right now. This is doubly true for the RWA sector, which has experienced one of its biggest rallies this year.
Let’s dive in to see what all the fuss is about.
>> Did you miss last week’s RWA update? Check it out here.
Market Overview
In case you didn’t hear the news, Bitcoin (BTC) touched a new all-time high of over $98,000 earlier today, making it one of the best-performing large-cap cryptocurrencies this week.
Source: Bitcoin Coin Page
According to stats from Coinglass, November is typically one of the best months for Bitcoin, with an average return of 46.1% over the last 14 years. Bitcoin has gained 38.5% this November so far.
Source: Coinglass
Historically, a strong November is almost always followed by a strong December, meaning the fun might only just be starting for BTC holders.
Bitcoin’s dominance remains at an impressive 60.7%—its highest value in over three years.
Past bull markets typically occurred in two phases:
- Phase 1: Bitcoin outperforms and gains market share. Altcoins also gain, but few keep up with BTC.
- Phase 2: Altcoins outperform and gain market share. Bitcoin also climbs but doesn’t rival the percentage growth of major altcoins.
So far, phase 1 appears to be repeating itself. Let’s see if phase 2 kicks off soon, or if this cycle will be different from the last.
RWA Market Recap
The real-world asset (RWA) token sector is currently the best-performing sector in terms of market cap-weighted performance, with a mCap-weighted return of 41.3% this week (per DefiLlama).
>> Keep tabs on your favorite RWA tokens here.
Much of this can be attributed to the exceptional performance of MANTRA (OM), which gained a staggering 125% this week alone. It is by far the best-performing RWA token currently tracked by CoinMarketCap.
For comparison, the next best-performing tokens (with significant volume) are:
- Creditcoin (CTC): gained 46.4%
- Quant (QNT): gained 41.9%
- XDC Network (XDC): gained 38%
Though the vast majority of RWA tokens have been in the green over the last seven days, there are a handful of stragglers.
Some of this week’s worst-performing RWA tokens include:
- Realio Network (RIO): lost 20%
- Brickken (BKN): lost 20%
- Parcl (PRCL): lost 18.1%
Source: Top Real World Asset Tokens Page
Overall, the market cap of the RWA token sector is up 18%, from $33.3 billion to $39.3 billion, in the last week. Again, this is almost entirely due to the performance of MANTRA (OM).
Nine of the top 10 largest RWA tokens are now in the green over the last seven days, including recent laggards like Chainlink (LINK) and Avalanche (AVAX), indicating renewed optimism for the sector.
This is certainly the case for Cathie Wood’s investment fund, Ark Invest, which recently expressed a bullish view on the nascent RWA market.
RWA News Roundup
With Bitcoin soaring close to $100K, the RWA market has gathered serious momentum. The last week was chock full of significant news stories, updates and developments.
We’ve selected five of the most important stories to help you get up to speed quickly:
Tether Launches RWA Tokenization Solution: Fiat tokenization firm Tether launched Hadron, a platform simplifying real-world asset (RWA) tokenization, including stocks, bonds, and commodities. It offers compliance, security, and lifecycle management tools, aiming to democratize access to digital assets and streamline RWA creation, management, and trading for issuers and investors.
Netherlands-based fintech Quantoz has already used the technology to launch two MiCAR-compliant stablecoins: EURQ and USDQ.
Casper Network Gets First RWA Protocol: Tokenized real-world asset solution RWY Protocol is set to launch on the high-speed L1 Casper Network. The platform will allow users to earn yields from a variety of tokenized RWAs by minting sCSPR—a yield-bearing liquid staking token. RWY Protocol will also produce the first overcollateralized stablecoin for the Casper ecosystem, known as cUSD.
Elixir and Securitize Launch DeFi Vaults for RWA Tokens: Securitize and Elixir have introduced DeFi vaults for tokenized real-world assets (RWAs), including BlackRock's BUIDL fund, enabling holders to access decentralized finance opportunities while continuing to earn yields from underlying investments via sTokens.
Huma Finance Launches Mainnet on Solana: Blockchain-based RWA protocol Huma Finance has launched its Payment Financing (PayFi) protocol on the Solana platform. It aims to provide instant liquidity solutions for global businesses by leveraging Solana's high-speed, low-cost infrastructure to bring real-world payment volumes on-chain.
>> And that’s all for this week’s RWA recap. Join us next week to see if the bullish trend continues 🔥
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