According to CryptoPotato, Ondo (ONDO), the largest coin in the Real-World Assets (RWA) sector, has a current price around $1 and a market cap of $1.4 billion. The coin debuted in January and reached an all-time high of nearly $1.50 in June. However, the RWA sector recently dipped from nearly $9 billion to approximately $6 billion due to the broader cryptocurrency market correction.
Real-world Assets (RWA) have gained popularity in recent months. They represent physical objects or properties and function on the blockchain via smart contracts. Earlier this year, the market capitalization of the niche neared $9 billion. However, it recently dipped to approximately $6 billion following the latest correction of the entire cryptocurrency market.
Ondo is the governance token of the New York-based crypto company Ondo Finance, which focuses on tokenization, recording assets such as bonds and US Treasuries on blockchains. It will be interesting to see whether it can reach a new peak in the following weeks or whether the market decline will continue suppressing its valuation.
Mantra (OM) is the second-largest RWA cryptocurrency with a market capitalization of over $700 million. It went live in August 2020, reaching a peak price of $1.09 last month. OM is up a staggering 3,000% yearly and is among the few cryptocurrencies from the top 100 list to witness gains in the past week. Mantra is a layer one blockchain network that creates a bridge between TradFi and DeFi by offering the necessary infrastructure for tokenizing Real-World Assets.
Pendle (PENDLE) is a blockchain protocol offering decentralized financial services, emphasizing fixed yields and yield tokenization. It is designed to work across different blockchains and incorporates automated market-making for efficient trading. Its all-time high occurred in April this year when it crossed the $7 milestone. Currently, it trades at around $3.80 and is one of the severely affected assets from the raging market crash.
Chromia (CHR) is a blockchain platform and cryptocurrency developed by the Chromia team, aimed at providing scalable and decentralized infrastructure for developing decentralized applications (dApps) and games. Its price defied the negative market trends, jumping by 8% daily and surpassing the $0.26 zone. Its rally coincided with the news that Chromia joined the AWS Partner Network. The developers revealed that the platform’s MVP Mainnet will officially launch on July 16.