The RWA sector has a capitalization of $9.21 billion
CryptoDiffer analysts reported the top 15 real asset-backed cryptocurrencies (RWAs) by market capitalization as of July 16, 2024. The sector has a combined value of $9.21 billion, with trading volume reaching $20.8 billion in the last 30 days. The leaders of this segment are Maker (MKR) with a capitalization of $2.74 billion, Ondo (ONDO) with $1.55 billion, and Mantra DAO (OM) with $1.06 billion.
Maker (MKR) shows a significant growth of 25.8% in the last 30 days, making it the largest project in the sector. This startup provides a decentralized platform to issue a stable DAI coin backed by various crypto assets. Maker's success is largely due to the stability and reliability of DAI, making the digital asset attractive to investors looking for sustainable solutions in a volatile market.
Ondo (ONDO), with a market capitalization of $1.55 billion, showed a decline of 9.37% over the same period. This project focuses on creating structured products that allow users to divide their assets into more stable portions. This distribution of returns is attractive to investors, but recent changes in the market may have affected the valuation of the token.
Mantra DAO (OM) ranks #3 with a capitalization of $1.06 billion and an impressive 68% growth in the last 30 days. It is a decentralized autonomous organization that offers users the ability to participate in management, staking, and lending. The rapid growth of Mantra DAO can be attributed to the increasing interest in decentralized finance (DeFi) and the growing number of users attracted by the ability to generate revenue through steaking and lending platforms.
Other projects in the top 15 such as Pendle (PENDLE), XDC Network (XDC), and Polymath (POLYX) are also attracting investor attention despite some of them showing negative performance over the last 30 days. Overall, the RWA sector continues to grow and receive significant amounts of investment, despite the volatility of individual projects.