RWA Altcoins is attracting new attention this week with Sky (Sky), Plume (Plume) and Centrifuge (CFG) showing sharp contrasting trends. Sky leads the pack with a weekly profit of 19%, driven by the strong adoption of an upgraded manufacturer-based ecosystem.
Plume fell 21% following the deaths of its co-founder. This occurs despite the recent mainnet launch of the project and strong support from major investors.
Meanwhile, CFG has skyrocketed by more than 14% over the past 24 hours. The jump follows the announcement of a $1 billion milestone and the expansion of real-world asset access in Solana.
Sky (Sky)
Sky Protocol is a decentralized financial system built as an evolution of manufacturers’ protocols. Introducing upgraded tokens (USDS and empty) as direct successors to Dai and MKR.
Over the past seven days, Sky has skyrocketed over 19%, making it the best token of the 10 biggest real-world asset (RWA) Altcoins.
With its current market capitalization approaching $1.9 billion, there is a growing sense of bullishness around the tokens. If this upward momentum continues, Sky could test the resistance at $0.094 and potentially push it to $0.10.
However, if the market is breached with $0.075 and turn and support, the downside targets include $0.069 and $0.0635.
Plume (Plume)
Plume Network is a layer 1 blockchain focused on introducing real-world assets (RWAS) into Defi through tokenization.
The project has been supported by major companies such as YZI Labs and Apollo Global, and recently launched the much-anticipated Genesis Mainnet to support Rwafi assets that support yields.
However, the sudden and tragic death of co-founder and CTO Eugene Shen caused a wave of confusion, speculation and selling.
Despite the established investor base and advances in onboarding of over 200 projects, Public Trust was a hit as trading volumes spiked and rumors swirled around the circumstances surrounding Shen’s death.
Over the past seven days, Plume has dropped by 21%, cutting its market capitalization to $200 million.
With an ongoing fix, the token risks below $0.90 if bearish feelings persist.
Conversely, the inversion can result in a plume test resistance of $0.115, with a potential target of $0.128, and $0.142 if momentum is enhanced.
Centrifuge (CFG)
Centrifuges are real-world asset (RWA) tokenization platforms. Asset Managers provide financial products on-chain, allowing investors to access a diverse, tokenized asset portfolio using real-time, transparent data.
This protocol was recently extended to Solana by launching Derwa Tokens.
These can be used as trade, lending or collateral across major Solana Defi platforms such as Raydium, Kamino, and Lulo.
Two days ago, Centrifuge announced it has exceeded $1 billion in total real-world assets, a key milestone for the RWA sector.
Centrifuge’s native token, CFG, has won over 14% in the last 24 hours, pushing its market capitalization to around $108 million.
The token is currently trying to break through the $0.20 to $0.21 range, with a next target of $0.264 if momentum continues.
On the downside, if support for $0.177 fails, the CFG could be raised to $0.167.
The recent surge in prices reflects new investors’ interest amid strong fundamental advances and increased adoption within the defi space.
Disclaimer
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