RWA tokens surge 11% weekly as onchain value peaks at $29B
The total onchain value of real-world assets has almost doubled since the start of the year as financial institutions flood into the space.
Cryptocurrencies supporting the real-world asset tokenization space pumped 11% this week as the total value of tokenized RWAs hit a new record high.
Over the past seven days, the RWA token market cap has surged from around $67 billion to an all-time high of just below $76 billion on Friday, according to CoinMarketCap.
The category of cryptocurrencies relates to protocols and projects with a strong focus on tokenization, such as blockchain oracle provider Chainlink (LINK), high-speed layer-1 chain Avalanche (AVAX), and institutional RWA DeFi platform Ondo Finance (ONDO), which has surged 9% on the day.