These Are the Top 10 RWA Cryptocurrencies by Development Activity
TL;DR
- Chainlink (LINK) leads in Real-World Assets (RWA) development activity, followed by Synthetix (SNX) and Centrifuge (CFG).
- Despite missing the list, Mantra (OM) saw a 1,700% increase this year, with some predicting it could soon lead the RWA category.
No Change Among the Leaders
Real-world assets (RWA) have gained traction in the past several months due to the rising prices of some tokens. While they exist in the physical world (representing objects or properties), they are tokenized and function on the blockchain through smart contracts.
Earlier this week, crypto analytics platform Santiment outlined the top 10 such tokens in terms of development activity on a monthly scale. Chainlink (LINK) takes first place with a score of 501.93. It performed quite well during the first quarter of the year, with its price surpassing $21 in mid-March.
However, it has been on a severe downfall in the past few months, currently trading at around $11.20 (per CoinGeckos data). Its market capitalization stands at approximately $6.8 billion, making it the 18th-biggest in the crypto market.
Synthetix Network (SNX) and Centrifuge (CFG) are ranked second and third with scores of 233.93 and 96.1, respectively.
Oraichain Token (ORAI), Dusk (DUSK), Maker (MKR), and IX Swap (IX) follow suit. It is worth mentioning that the first seven positions were in the same order after Santiments previous analysis.
Polymex (POLYX) has climbed the ladder and now holds the eighth spot, while Defactor (FACTR) showed some improvement to enter the top 10 list. Creditcoin (CTC) is ninth after being placed higher in the previous ranking.
Which One is Missing Again?
Meanwhile, one of the top performers in the RWA realm Mantra (OM) did not find a spot in the line up. The tokens price experienced a bull run this year, rising from a mere $0.05 on January 1 to $1.40 towards the end of July.
OM headed south in the following weeks, settling at around $0.91, which represents a whopping 1,700% increase year-to-date (YTD). It is worth mentioning that the asset did not make the list in July, either, despite being close to its best shape at that time.
Some industry participants praised OM for its impressive performance as of late, predicting further advancements in the near future. Crypto Coach (an X user with over 200,000 followers) recently claimed that it remains one of the best-performing altcoins, holding strong levels despite the poor market.
Crazily, the price of OM is yet to catch up with the insane fundamentals they have right now. Seems like the final version of Testnet Dukong is almost ready. MANTRA is going to be leading the RWA category pretty soon, the enthusiast added.
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