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BlackRock's entry into the tokenized assets market with its first Ethereum blockchain-based fund ignites a rally in Real-World Asset (RWA) tokens, showcasing growing investor interest in bridging traditional finance with digital assets.
With BlackRock's launch of its first tokenized fund on the Ethereum blockchain, the cryptocurrency market has seen a significant increase in Real-World Asset (RWA) tokens. Polymesh (POLYX), Centrifuge (CFG), Propchain (PROPC), Ondo (ONDO), and Propbase (PROPS) are among them, and all have experienced significant growth of more than 30%, Coingape reported.
The rally is linked to increased investor interest in tokenized assets, which links the traditional financial market and the digital asset space.
BlackRock's Entry Into Tokenized Assets
BlackRock, the world's largest asset manager, announced the launch of its new BlackRock USD Institutional Digital Liquidity Fund, which has fueled the recent increase in RWA token prices. The fund, tokenized on the Ethereum blockchain and denominated as BUIDL, marks a significant advance of traditional finance into the blockchain area.
The project is anticipated to improve the credibility and utility of tokenized assets, increasing investors' demand for projects of this kind.
Polymesh (Polyx)
Polymesh, a specialized blockchain designed for regulated securities, has seen its POLYX token increase by nearly 80%. This rise is closely related to the increased visibility and reputation of tokenized assets since BlackRock's announcement.
As a platform facilitating the trade of tokenized assets, Polymesh stands at the forefront of this evolving sector, benefitting directly from the growing interest in blockchain-based financial solutions.
At press time, POLYX was trading at $0.407, up 44% from its intra-day low of $0.2847. Furthermore, its market capitalization and 24-hour trading volume increased by 34% and 268.07%, respectively, reaching $338,987,962 and $1,347,861,401.
Centrifuge (CFG)
Centrifuge (CFG), another participant in tokenizing real-world assets, has experienced a 30.62% price increase. The token price fluctuated between the day's high and low of $0.9951 and $0.6806, respectively.
The platform, which allows users to fund real-world assets using DeFi, has grown in popularity as the concept of tokenized assets has gained traction. This uptrend reflects the market's optimism about the potential impact of DeFi in traditional finance sectors such as lending and borrowing.
Propchain (PROPC) and PropBase (PROPS)
Propchain and Propbase have seen significant gains, with tokens up 35.16% and 35.12%, respectively. During the rally, the bulls of PROPC and PROPS set intra-day highs of $3.66 and $0.06057, respectively.
These platforms, which specialize in tokenizing real estate and other property assets, have benefited from the growing interest in RWA tokens.
At the same time, PROPC's market capitalization and 24-hour trading volumes increased by 30.93% and 162.80%, respectively, to $52,871,114 and $4,326,867. Similarly, PROPS's market capitalization and trading volume increased by 23% and 72.31%, to $18,713,170 and $1,102,406, respectively.
Ondo Finance (ONDO)
Ondo Finance's token price has risen by more than 40.22% due to the enthusiasm for tokenized assets, reaching a new all-time high of $0.8162. The platform's emphasis on bridging traditional finance and DeFi through tokenizing securities has placed it well in the current market environment.
However, expanding Ondo's offerings and partnerships across various blockchain platforms has accelerated its growth.
Photo: Microsoft Bing
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