RWA Tokens and Memecoins Surge in Crypto Market Rebound

RWA Tokens and Memecoins Surge in Crypto Market Rebound

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The market cap of real-world assets (RWA) has surged to $5.54 billion, marking a remarkable increase of over 31% in the last 24 hours. Similarly, the memecoin market cap has also witnessed a notable uptick, rising by over 16% during the same period. Among the top five memecoins, excluding Shiba Inu, all have recorded double-digit gains.

The RWA token market cap’s significant surge is evident across the top performers in the sub-sector. Notably, the native token of the Polymesh blockchain experienced a staggering 86.5% surge, followed by Centrifuge with a rise of 46.5%, and Ondo with a notable increase of 33% within the past 24 hours. Polymesh, a blockchain project tailored for security tokens, is one of the many protocols engaged in the tokenization of real-world assets, facilitating the conversion of asset rights into digital tokens on a blockchain.

Real-world assets span a broad spectrum, encompassing tangible and intangible items ranging from physical properties to patents and copyrights. The tokenization of these assets holds the promise of revolutionizing their handling and trading, potentially leading to increased liquidity, accessibility, and efficiency in asset management.

In the realm of memecoins, the market cap has also surged by 16.0% over the past day. Notably, all of the top five memecoins by market capitalization have witnessed significant gains, except for Shiba Inu, which saw a more modest 7% increase within the same period.

Among the top five memecoins, Floki has displayed the most remarkable rally, surging by over 38% within the past 24 hours, as per data from The Block’s Price Page at 6:19 a.m. ET.

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