Cryptocurrencies to Watch in April
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Top 5 RWA Cryptocurrencies to Watch in April
Author: Dimitar Dzhondzhorov
Last Updated Apr 3, 2024 @ 15:08
Here are the leading RWA cryptocurrencies to put on your watchlist for the ongoing month.
TL;DR
The Real-World Asset (RWA) niche, prominently featuring Ondo (ONDO) as its leader, showcases significant growth and investor interest in blockchain tokenization of physical assets.
Other key players in the cohort, like XDC Network (XDC) and Polymesh (POLYX), exhibit varying performances, from market corrections to impressive gains, underscoring the sector’s dynamic nature.
Ondo (ONDO)
Real-world Assets (RWA) have become quite popular lately. They represent certain physical assets, such as objects, properties, and others, and function on the blockchain through smart contracts. The market capitalization of the niche currently stands at over $8.6 billion, with Ondo (ONDO) being the largest token of that type.
The asset is the governance coin of the New York-based crypto company Ondo Finance, which focuses on tokenization (recording assets such as bonds and US Treasuries on blockchains).
ONDO’s price surged to an all-time high of $1.05 (per CoinGecko’s data) on March 31. It currently trades at around $0.82 in resonance with the broader market correction but remains 60% up on a monthly scale.
ONDO Price
ONDO Price, Source: CoinGecko
XDC Network (XDC)
This is the second-largest asset in this segment, with a market cap of around $630 million, or nearly two times smaller than the one of ONDO. XDC Network is an open-source blockchain suited for real-world decentralized finance with tokenization at the forefront.
The price of its native token peaked in August of 2021 at $0.18. The prolonged bear market in 2022-2023 took its toll, and XDC plunged significantly before resurging once again last summer. As of the moment, the asset is worth approximately $0.04, representing a 3% decrease for the past month.
XDC Price
XDC Price, Source: CoinGecko
Polymesh (POLYX)
POLYX’s market cap lags behind XDC by mere millions, while its price was recently on a roll, peaking at $0.74. The coin has performed quite impressively in the last 30 days, experiencing a 140% upswing in its valuation.
POLYX Price
POLYX Price, Source: CoinGecko
Polymesh is a specially designed blockchain that focuses on regulated assets and is sometimes called the “Ethereum for security tokens.”
MANTRA (OM)
The fourth-biggest RWA cryptocurrency, with a market capitalization of $530 million, is another token that has made the headlines recently. Last month, its price hit a new all-time high of over $0.80 after trading below $0.10 between April 2022 and February 2024. OM is up a whopping 1,800% for the past year.
OM Price
OM Price, Source: CoinGecko
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)
Last but not least, we will touch upon PENDLE, whose price has rallied substantially lately. It recently hit an ATH of $5.74 before retracing to its current level of around $5. The asset was worth a mere $0.60 in October 2023, meaning a 730% price increase in six months.
PENDLE Price
PENDLE Price, Source: CoinGecko
Pendle Finance is a blockchain protocol that provides decentralized financial services focusing on fixed yields and yield tokenization. It supports cross-chain compatibility and involves automated market-making mechanisms for effective trading.
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Tags: Blockchain
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About The Author
Dimitar Dzhondzhorov
More posts by this author
Dimitar got interested in cryptocurrencies back in 2018 amid the prolonged bear market. His biggest passion in the field is Bitcoin and he was fascinated with its journey. With a flair for producing high-quality content, he started covering the cryptocurrency space in late 2018. His hobby is football.
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