RWA Tokens Rally: POLYX, CFG, PROPC, ONDO, PROPS Skyrocket Over 30%

With BlackRock launching its first tokenized fund on the Ethereum blockchain, the crypto market has seen a significant surge in Real-World Asset (RWA) tokens. Polymesh (POLYX), Centrifuge (CFG), Propchain (PROPC), Ondo (ONDO), and Propbase (PROPS) are among them, and all have gained remarkable figures of well over 30%.

The rally is linked to the increased investor appetite for tokenized assets that act as an interface between the traditional financial market and the digital asset space.

BlackRock’s Entry into Tokenized Assets

The announcement from BlackRock, the world’s largest asset manager, about its new BlackRock USD Institutional Digital Liquidity Fund has been a catalyst for the recent uptrend in RWA tokens. The fund, tokenized on the Ethereum blockchain and denominated as BUIDL, marks a significant advance of traditional finance into the area of blockchain.

The project is anticipated to improve the credibility and utility of tokenized assets, which will increase investors’ demand for projects of this kind.

Polymesh (POLYX)

Polymesh, a specialized blockchain designed for regulated securities, has seen its token POLYX surge by nearly 80%. This rise is closely connected with the improved visibility and reputation that tokenized assets have received since BlackRock’s announcement.

As a platform facilitating the trade of tokenized assets, Polymesh stands at the forefront of this evolving sector, benefitting directly from the growing interest in blockchain-based financial solutions.

At press time, POLYX’s price was up 44% from the intra-day low of $0.2847, trading at $0.407. Moreover, its market capitalization and 24-hour trading volume soared by 34% and 268.07%, respectively, to $338,987,962 and $1,347,861,401.

Centrifuge (CFG)

Being another participant in the tokenization of real-world assets, Centrifuge (CFG) has witnessed a 30.62% price surge, with the token price swinging amid the day’s high and low of $0.9951 and $0.6806, respectively.

The platform, which allows users to fund their real-life assets through DeFi, has grown in popularity with the rise of the tokenized assets concept. This uptrend is the market’s bullishness about the potential impact of DeFi in traditional finance sectors, including lending and borrowing.

Propchain (PROPC) and Propbase (PROPS)

Both Propchain and Propbase have posted remarkable gains as their tokens have advanced by 35.16% and 35.12%, respectively. Intra-day high prices during the rally were achieved by the bulls of PROPC and PROPS at $3.66 and $0.06057, respectively.

These platforms, which focus on the tokenization of real estate and other property assets, have benefited from the increased interest in RWA tokens.

Simultaneously, the market capitalization of PROPC and 24-hour trading volumes grew by 30.93% and 162.80% to $ 52,871,114 and $ 4,326,867, respectively. Similarly, the market cap and trading volume of PROPS also increased by 23% and 72.31% to $18,713,170 and $1,102,406, respectively.

Ondo Finance (ONDO)

Ondo Finance token price has also been lifted by over 40.22%, on the hype of the tokenized assets enthusiasm, to reach $0.8162, its new all-time high. The platform’s focus on bridging traditional finance with DeFi through the tokenization of securities has positioned it well in the current market environment.

The expansion, however, of Ondo’s offerings and its partnerships across various blockchain platforms have further fueled its growth.

The post RWA Tokens Rally: POLYX, CFG, PROPC, ONDO, PROPS Skyrocket Over 30% appeared first on CoinGape.

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