Following BlackRock’s foray into blockchain with the launch of a tokenized fund on Ethereum, a surge in value has been observed in various Real World Asset (RWA) tokens. Notably, Polymesh (POLYX), Centrifuge (CFG), and Ondo Finance (ONDO) have experienced significant price increases, with an average gain surpassing 30%. This uptick is attributed to the growing interest in tokenized assets and blockchain’s potential in the financial sector.
Polymesh Leads with an 80% Surge
Polymesh has emerged as a standout performer, with its POLYX token witnessing an approximate 80% increase. This leap in price is directly connected to the heightened credibility and attention garnered by tokenized assets in the wake of BlackRock’s entry. As Polymesh is designed to support regulated securities on the blockchain, it has found itself well-positioned to capitalize on this burgeoning interest.
POLYX has seen its value grow from an intraday low of $0.2847 to trade around $0.3, marking a substantial 38% rise. The market valuation of POLYX has expanded by 34%, surpassing $322 million, while its trading volume saw a massive 232% increase to over $1.347 billion.
Centrifuge Benefits from Tokenization Trend
Centrifuge is another project that has gained traction in the tokenization space, with its CFG token appreciating by 30.62%. This project, which intertwines real-life asset funding with decentralized finance (DeFi), has witnessed growing popularity as the concept of tokenized assets becomes more mainstream. This interest has sparked discussions on DeFi’s transformative effect on traditional financial models.
Ondo Finance Tops the Gainers’ List
Ondo Finance’s token ONDO has been identified as the day’s largest gainer, with an increase exceeding 40.22%. The all-time high for the token reached $0.8162, with ONDO currently trading at $0.74. The platform aims to fuse traditional finance with DeFi by tokenizing securities and has seen a positive market impact due to its variety of offerings and expanding partnerships in the blockchain ecosystem.