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CoinMarketCap Highlights RWA Resurgence, Market Cap Hits $47.8 Billion

CoinMarketCap Highlights RWA Resurgence, Market Cap Hits $47.8 Billion

CryptoNewsNetCryptoNewsNet2024/12/08 06:44
By:blockchainreporter.net

CoinMarketCap has revealed an impressive report showcasing the explosive growth of the Real-World Asset (RWA) sector. The report has showcased RWA’s market capitalization soared to $47.8 billion. This marks a 68.3% monthly increase and a 119.3% year-over-year surge. This groundbreaking increase brings the sector back to its April 2024 levels.

📈 RWA market cap soars to $47.8B!

Ripple tokenizes abrdn's $4.8B fund on XRPL. Ondo integrates LayerZero for cross-chain USDY transfers.
Read our full analysis 👇https://t.co/M6oynQmsvH

— CoinMarketCap (@CoinMarketCap) December 6, 2024

In a broader sense, Bitcoin ($BTC) flirts with its $100K milestone and altcoins regain dominance. These moves of the coins push the Altcoin Season Index to 62/100. CoinMarketCap’s Crypto Fear and Greed Index currently sits at 84/100. It signals “extreme greed” as optimism sweeps through the market.

RWA Momentum Driven by Ripple and Ondo

Significant industry developments have fueled the resurgence of the RWA sector. Ripple ($XRP), in partnership with FCA-regulated Archax, has tokenized abrdn’s $4.8 billion U.S. Dollar Liquidity Fund on the XRP Ledger. This tokenization offers institutional investors easier access to tokenized assets.

Meanwhile, Ondo Finance has integrated LayerZero’s interoperability protocol. It enables seamless cross-chain transfers of its USDY tokenized U.S. Treasury product across blockchains such as Ethereum, Arbitrum, and Mantle. These initiatives highlight the RWA sector’s growing importance in bridging traditional finance and decentralized finance (DeFi).

Outlier Ventures also launched its second RWA Base Camp accelerator. It selects seven startups focused on advancing tokenization efforts across industries. Additionally, the Casper Network announced the upcoming launch of cUSD, its first RWA-backed stablecoin. Through this launch, Casper Network aims to enhance DeFi opportunities within its ecosystem.

CoinMarketCap Shared Details of Weekly Gains Led by $XDC and $RIO

The CoinMarketCap report further reveals that the RWA sector’s top 20 tokens all posted gains this week, with many exceeding 20%. XDC Network ($XDC) emerged as the leader among major tokens, posting a 32.6% weekly increase.

Realio Network ($RIO) saw the most dramatic rise among smaller tokens, gaining 61.6%. Other standout performers included Brickken ($BKN), up 70.3%, and Chia ($XCH), up 60.5%. However, not all tokens followed this upward trend as Alvara Protocol ($ALVA) fell by 12.8%. It marks a rare setback in an otherwise bullish week.

The RWA market hits new heights and CoinMarketCap’s data paints an optimistic picture. The sector solidifies its role as a key player in the crypto ecosystem. The tokenization efforts are expanding and real-world assets are finding their way onto blockchains. The line between traditional and digital finance continues to blur, paving the way for a transformative future.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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