Polymesh up nearly 80% after BlackRock's tokenized asset fund announcement
The real-world assets narrative is heating up as the entire category soars by 35%.
Polymesh leads the way with impressive gains on Thursday.
Tokenized treasury products saw a 641% growth in 2023.
Polymesh (POLYX) — the tokenized, asset-trading, blockchain platform — saw a whopping 80% boost in price on Thursday, following BlackRock's foray into the real-world asset (RWA) sector. This has caused crypto tokens in the RWA sector to rise as they look to be the next bullish narrative.
BlackRock kickstart RWA narrative
Polymesh and a host of real word asset tokens have skyrocketed after BlackRock's announcement of launching a tokenized asset fund on Ethereum. The BlackRock USD Institutional Digital Liquidity Fund (BUIDL), set to go live soon, fueled the RWA narrative as many in the crypto community began shilling projects that they feel may become the next big thing. As a result, the market cap of the RWA category went up by 35% (reaching $5.7 billion) in the last 24 hours, according to data from CoinGecko.
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