📊 Will Avalanche Be the First RWA Coin to Cross $10B Market Cap?
Avalanche (#AVAX ) is leading the pack among Real World Asset (RWA) coins in the race to hit a $10 billion market cap. With a current price of $20.35, AVAX has a market cap of $8.04 billion, placing it closest to this milestone.
Despite a 3.21% drop in the last 24 hours, Avalanche’s strong ecosystem and the recent launch of applications for its Codebase Season 2 incubator position it for continued growth. This initiative invites builders to apply for a $50,000 non-dilutive stipend and compete for a share of the $1 million prize pool, which is likely to drive further interest in the network.
💬 Avalanche's Codebase Season 2 Applications Opens 👨🏾💻🌐
Inviting all innovative founders & builders to @avax Codebase Incubator S2.
Builders on #Avalanche can apply to get a $50k non-dilutive stipend & pitch for a share of the $1M prize pool. AvalancheCodebase — Akahilz August 16, 2024
Chainlink (LINK) is also in the race, priced at $10.23 with a market cap of $6.22 billion. LINK experienced a slight decline of 3.25% in the last 24 hours. Moreover, Chainlink has been expanding its reach, with its Data Streams and Verifiable Random Function (VRF) now live on Base, a platform incubated by Coinbase.
Maker (MKR), although priced higher at $1,966.24 per coin, has a smaller market cap of $1.83 billion. Maker has seen a 4.24% decline in the last 24 hours. However, it remains a key player in the decentralized finance (DeFi) space, particularly due to its role in maintaining the stability of the DAI stablecoin.
Subsequently, VeChain (VET) is priced at $0.022084 and a market cap of $1.79 billion, has declined by 4.12% in the last 24 hours. Despite its strong focus on supply chain solutions and partnerships with major corporations, VeChain has a long way to go before it can compete with the likes of Avalanche and Chainlink.
