Chainlink, Synthetix, Maker rank among top 10 Real World Assets to watch in July
- On-chain data tracker Santiment compiled a list of top 10 Real World Asset tokens ranked by development activity.
- Chainlink ranks first and has noted more than double the average daily development activity compared to other projects.
- LINK, SNX, CFG, ORAI and DUSK are the top five RWA tokens on the list.
Real World Asset (RWA) tokens and meme coins are the only two profitable narratives in the past three months of 2024, per Dune Analytics data. The performance of tokens in the RWA sector has attracted crypto traders, and after months of a stagnant market, the assets are seeing a rise in on-chain activity.
Asset management giant BlackRock’s BUIDL on-chain fund launch fueled the narrative, making it mainstream in the first half of 2024.
On-chain data from Santiment was used to rank RWA tokens are identify the ones with the highest development activity and potential for gains. Chainlink (LINK), Synthetix (SYN) and Maker DAO (MKR) rank in the top 10 RWA tokens.
These RWA tokens saw high development activity in last 30 days
Crypto intelligence tracker Santiment compiled a list of top RWA tokens and ranked them by development activity. The metric is indicative of each project’s commitment to creating a working product, upgrading its features and maintaining the asset’s relevance among traders.
The list is as follows:
- Chainlink (LINK)
- Synthetix.io (SYN)
- Centrifuge (CFG)
- Oraichain (ORAI)
- Dusk Foundation (DUSK)
- MakerDAO (MKR)
- Defactor (FACTR)
- Creditcoin (CTC)
- Polymesh Network (POLYX)
- Reserve Rights (RSR)
Among the top 10 RWA projects, Santiment highlighted Chainlink as the one with the highest development activity. The protocol noted more than double the average daily development activity compared to the nearest project.
Here are crypto's top Real World Assets (RWA's) by development. This list is compiled by counting any non-redundant github activity, and averaging this daily activity over the past 30 days.
— Santiment (@santimentfeed) July 8, 2024
Chainlink is seeing more than double the average daily development activity (512)… pic.twitter.com/rer4PznHPl
Chainlink is seeing higher Github commits, commitment from developers and is likely gearing up for updates to the network given its high development activity, per Santiment data.
The RWA narrative continues to be an important one this cycle. A recent McKinsey report estimates that the total market capitalization of the sector could rise to $2 trillion by 2030.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
