Here are the top 10 RWA cryptocurrencies by development activity

TL;DR

Chainlink ( LINK ) leads the real world asset ( RWA ) development activity, followed by Synthetix ( SNX ) and Centrifuge ( CFG ). Despite missing the list, Mantra ( OM ) saw a 1,700% rise this year, with some predicting it could soon lead the RWA category.

No change among the leaders

Real World Assets (RWA) have gained momentum in recent months due to the rise in prices of some tokens. Although they exist in the physical world (representing objects or properties), they are tokenized and operate on the blockchain using smart contracts.

Earlier this week, crypto analytics platform Santiment outlined the top 10 such tokens in terms of development activity on a monthly basis. Chainlink (LINK) ranks first with a score of 501.93. It performed well in the first quarter of the year, with a price above $21 in mid-March.

However, it has suffered a sharp decline in recent months, currently trading around $11.20 (according to CoinGecko data). Its market capitalization is approximately $6.8 billion, making it the 18th largest crypto market.

LINK Price, Source: CoinGecko

Synthetix Network (SNX) and Centrifuge (CFG) rank second and third with scores of 233.93 and 96.1, respectively.

Oraichain Token (ORAI), Dusk (DUSK), Maker (MKR) and IX Swap (IX) follow suit. It is worth saying that the first seven positions were in the same order after Santiment’s previous analysis.

Polymex (POLYX) has moved up the ladder and is now in eighth place, while Defactor (FACTR) showed some improvement to enter the top 10 list. Creditcoin (CTC) is ninth after placing higher in the previous ranking.

What’s missing… again?

Meanwhile, one of the top performers in the RWA realm, Mantra (OM), failed to find a place in the list. The price of the token experienced an upward climb this year, rising from just $0.05 on January 1st to $1.40 at the end of July.

OM headed south in the following weeks, hovering around $0.91, representing a 1,700% year-to-date (YTD) increase. It’s worth noting that the asset didn’t make the list in July either, despite being close to its best form at the time.

OM Price, Source: CoinGecko

Some industry participants praised OM for its impressive performance recently, and predicted further developments in the near future. Crypto Coach (an X user with over 200,000 followers) recently claimed that it remains one of the best performing altcoins, “holding strong levels despite the poor market.”

“Crazy, the price of OM still hasn’t caught up with the crazy fundamentals they have right now. Looks like the final version of Testnet Dukong is almost ready. MANTRA will lead the RWA category very soon,” he added the enthusiast

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