Real-world asset (RWA) protocols now represent 3.69% of the total value locked (TVL) in decentralized finance (DeFi).

According to the latest findings by on-chain analytic platform IntoTheBlock, this marks a notable increase from 1.77% in July.

RWA Protocols Expand Presence in DeFi

The consistent growth essentially highlights the surging integration of Real-World Assets (RWAs) within the DeFi ecosystem, as traditional assets such as real estate, commodities, and bonds are increasingly being tokenized and used as collateral in decentralized lending and borrowing protocols.

ITB’s tweet read,

“Real World Asset (RWA) protocols now account for 3.69% of DeFi’s TVL, a significant rise from 1.77% in July. This steady uptrend shows the growing integration of real-world assets within the DeFi ecosystem.”

CoinGecko also pointed out that a recent analysis predicted the market for RWAs will surge from $118 billion to $10 trillion by 2030.

With clearer regulations and growing interest from institutional investors, RWA tokenization is expected to unlock liquidity for private equity, real estate, and other viable assets, as per the prominent crypto data aggregator.

Ripple and MANTRA Lead Tokenization Efforts

Despite initial skepticism, the tokenization of RWAs has seen significant growth in recent years, drawing interest from both individual and institutional players. For instance, blockchain company Ripple partnered with the Axelar Foundation in February this year to boost XRP Ledger’s (XRPL) interoperability, with a strong emphasis on promoting the tokenization of RWAs.

By integrating Axelar’s network, the collaboration aims to strengthen XRPL’s DeFi ecosystem by providing essential liquidity for stablecoins and other high-value assets.

MANTRA, a Layer 1 blockchain specializing in Real-World Assets (RWA), received $11 million in a funding round in March, which aimed to accelerate its mission of scalable RWA tokenization.

The fresh capital will be poured towards key initiatives, including the establishment of regulatory-compliant infrastructure aligned with global standards, equipping developers with tools to build RWA-focused protocols on the MANTRA Chain, and expanding tokenization efforts in the MENA and Asia markets.

TL;DR

• It appears that the market uncertainty and negative sentiment are on the rise, especially for Ethereum (ETH), Bitcoin (BTC), and Ripple (XRP).
• However, some analysts remain optimistic about XRP despite the current conditions.

The ‘Top’ 20 List

Despite positive expectations, the cryptocurrency market started October on the wrong foot, registering a substantial correction. Multiple leading assets lost the momentum observed at the end of September, entering red territory.

The crypto analytics platform Santiment revealed the top 20 cryptocurrencies receiving the most negative attention during the latest pullback. 

The first spot went to Chainlink (LINK), whose weighted sentiment fell to -0.57. Ethereum (ETH) and Bitcoin (BTC) followed next with ratios of -0.47 and -0.45, respectively.

“Weighted sentiment is an adjusted measurement we provide that combines the social volume of an asset (across X, Reddit, Telegram, 4Chan, and Bitcointalk) and multiplies by the ratio of positive vs. negative comments toward that asset,” the entity explained its method. 

Other well-known cryptocurrencies making the list include Solana (SOL), Ripple (XRP), Polygon (MATIC), Cardano (ADA), Floki Inu (FLOKI), Pepe (PEPE), Tron (TRX), and more.

XRP, for one, witnessed a severe collapse at the start of October. It plummeted by double digits to as low as $0.51 following the US SEC’s appeal in the case against Ripple. Since then, XRP has tried to recover some ground, currently trading at around $0.52 (per CoinGecko’s data). 

However, it is not all bad news. According to Santiment, “coins with the most bearish crowd narratives historically have the best chance of rising.”

XRP Price Predictions

Despite its pullback, the asset has been the subject of numerous optimistic forecasts as of late. The popular X user Dark Defender claimed the news surrounding the Ripple v. SEC lawsuit have “a minor impact” on XRP, whose valuation is mainly driven by technical indicators:

“When Heikin Ashi Candles (average-price candles, currently at $0.57) are considered, the monthly average price stays above the support level, which is critical for XRP to continue the momentum. This is supported by the MACD indicator, where XRP has the green dot on the monthly time frame. I am super bullish, and I expect XRP to follow his pattern.”

EGRAG CRYPTO was even more bullish, expecting the token’s price to experience an “epic” surge to above $5 in the following months.

Bitcoin’s price troubles continued in the past 24 hours as the asset dropped toward $60,000 for the first time in about a week.

Most altcoins have followed suit, with ETH, BNB, SOL, XRP, DOGE, TON, and many others declining by about 2% daily.

BTC Slipped Toward $60K

The primary cryptocurrency bottomed last Thursday with a price slumped to just under $60,000. The bulls stepped up at this point and propelled an impressive rally that culminated on Monday morning with a surge to a multi-week peak of $64,500.

This came after a positive end to the previous business week and a rather quiet weekend. However, the asset couldn’t keep the momentum going at this point and started to lose value gradually.

By Tuesday and Wednesday, it had lost about three grand and struggled to remain above $62,000. The bears intensified the pressure earlier this morning when they drove bitcoin to a weekly low of $60,250.

As of now, BTC has managed to defend the coveted $60,000 level and sits close to $61,000. Still, it’s 2% down on the day, and its market cap has dumped to $1.2 trillion. Its dominance over the alts, though, stands tall at just over 54%.

APT Dumps Hard

The altcoins have mimicked BTC’s performance in the past day, which means that red dominates the charts. The larger-cap alts, such as ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, LINK, and BCH, have produced losses of about 2%.

Shiba Inu and SUI have dropped by over 3%, while NEAR has slumped by almost 6%. WIF has dumped by a similar percentage, while APT has nosedived by 9% in a day. As a result, the asset now struggles below $8.4.

Uniswap’s native token is among the few exceptions in the green today. UNI has risen by almost 7% and trades above $7.6.

Nevertheless, the total crypto market cap is down by about $50 billion overnight and to $2.225 trillion on CG.