RWA tokens gained a bullish momentum, with tokens such as $QNT and $OM gaining over 5% in price over the last 24 hours. The RWA tokens managed this feat despite having a 14.84% decrease in trading volume. The RWA gained while Layer-1 and other top DeFi tokens struggled to be consistent in the market.
Real-world asset (RWA) tokens experienced a bullish run over the last few hours, with the major tokens gaining over 5% overnight. The RWA tokens collectively made significant strides, with most consistently gaining over the last seven days.
RWA tokens experience a bullish run
Image showing the market data of the major RWA tokens Source: CoinmarketCap
Over the last seven days, RWA tokens have experienced significant positive price changes. The positive price change has been consistent despite the RWA tokens having a 14.48% drop in their cumulative trading volume. The RWAs made a significant run led by $QNT, which gained 26.82% over the last seven days. The $QNT price went up to $75.74 after the token’s price gained by 5.23% in the last 24 hrs. $OM, another RWA, gained 5.06% in the last 24 hours to reach $1.12. The $OM token also experienced a 22.34% price change over the last seven days, coming second to $QNT during the same period.
The trend was replicated in most other major Real-world assets tokens, which topped the 7% percent mark in gains over the last seven days. $ONDO, $AVAX, $SNX, $LINK, and $VET respectively gained 10.77%, 10.23%, 9.99%, 9.10%, and 8.85% in the last week. These tokens had marginal gains in the last 24 hours except for $MKR, $ONDO, and $SNX, which had less than 1% negative price changes. The $MKR token was the sole major RWA token to have dropped in price over the last seven days with a 0.04% change.
DeFi and Layer-1 tokens struggles continue
While the real-world assets kept making consistent gains, Layer-1 tokens such as Bitcoin, Ethereum, and Solana struggled to keep up. The prices of these Layer-1 tokens remained relatively unchanged as they failed to breach the 5% price change over the previous seven days.
Bitcoin and Solana gained 3.7% and 3.08%, respectively, while Ethereum recorded a 0.32% drop. Similarly, the 24-hour figures reflected minimal price changes, with Bitcoin being the only coin with a positive price change of 0.01%. Solana and Ethereum recorded 0.57% and 0.01% drops respectively.
Other top DeFi tokens also failed to continue sustaining their recently made gains, except for a few with fairly good performances. DeFi tokens, including Dai, Uniswap, Stacks, Aave, and Injective, had gained 0.01%, 10.27%, 15%, 12.8%, and 13.55% over the last seven days. However, only Dai and Uniswap recorded positive price changes in the last 24 hours at 0.02% and 1.65% respectively. Stacks, Aave, and Injective recorded negative price changes of 2.11%, 5.07%, and 1.13%, respectively.
