The Real World Asset (RWA) sector continues to remain a hot space, with the combined value of of all such tokens amounting to $35 billion. However, figuring out which is the best option to add to one’s portfolio can be a challenge.
Thus, BeInCrypto has assembled a list of five RWA tokens that investors should keep an eye on.
Avalanche (AVAX)
While it may not have noted stellar increases this month, Avalanche’s price is still a must-have token. One of the biggest reasons is its adoption. Earlier this week, the California DMV digitized 42 million car titles on the Avalanche network. The DMV is building a blockchain-based system to streamline vehicle title transfers.
Avalanche’s price is currently stuck under the 23.6% Fibonacci Retracement line at $32.98 and would need to secure it as support to trigger a recovery. This would require strong, bullish cues from the market.
Read More: How To Buy Avalanche (AVAX) and Everything You Need To Know
However, failure to breach it will continue the consolidation AVAX is facing, keeping above the support at $24.43. Losing this support would invalidate the bullish thesis.
Maker (MKR)
Maker’s price is also expecting a surge as it prepares for the launch of Endgame. This proposal was made in 2022, and since then, Maker DAO has been working towards the necessary tools and foundation to scale the subDAO ecosystem.
This also includes scaling the DAI supply to 100 billion. Set to launch in the Summer of 2024, MKR could benefit from this hype to breach the resistance at $3,159 and secure $3,000 as a support floor. This would enable further growth and match the enthusiasm of MKR investors.
Read More: Maker (MKR) Price Prediction 2023/2025/2030
At the same time, Maker’s price has cemented $2,555 as a solid support floor, and losing it could wipe away the recent gains. MKR could end up falling to the lows of $2,271 as a result of this.
Lumerin (LMR)
Over the last month, Lumerin has emerged as one of the best-performing Real World Assets, rising by over 142%. In doing so, Lumerin’s price rose from $0.009 to $0.022 at the time of writing.
The next major resistance for the altcoin is at $0.026, and breaching it would enable further rallying for LMR. The RWA token has already been breached once, and another attempt would require $0.026 to be cemented as support.
Read More: How To Invest in Real-World Crypto Assets (RWA)?
Another failure could send LMR to $0.019, losing, which would mean the bullish thesis is invalidated. The real-world asset would also end up wiping all the profits it had gained recently.
MANTRA (OM)
Another top-performing Real World Asset is MANTRA. The altcoin’s massive rally over the month of July resulted in OM establishing a new all-time high at $1.41.
Since then, the crypto asset has declined considerably, erasing a third of the profits noted recently. The drawdown has resulted in OM losing the support of $1.20. However, the RWA asset is still holding above the support of $1.04.
Read More: What Are Tokenized Real-World Assets (RWA)?
If this support is lost, too, OM would have a shot at bouncing back from the support at $0.95. Falling below this could send the altcoin falling to $0.79.
Maple (MPL)
While Maple did not have a stellar July, nor is it in the midst of a major development, it is still an asset investors should watch out for. The real-world assets rose by 55% in the last month and are trading at $17.97 at the time of writing.
The biggest barrier to MPL’s rise has been $21.06. The altcoin has failed to breach it twice and has been unable to close above it since mid-April. If this happens, Maple’s price would have a chance of rising to $25.76 and continuing its rally.
Read More: What Are Tokenized Real-World Assets (RWA)?
However, if the breach fails, there is a chance MPL may not sustain above the support of $15.51. Losing it would send the RWA token to $11.16, invalidating the bullish thesis.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
