Real World Assets (RWA), which represent physical assets, have seen significant growth over the past year. The largest RWA altcoin projects include Chainlink, Avalanche and Internet Computer. However, the frontrunners in terms of developer activity are changing the ranking. Analytics platform Santiment shared 10 RWA altcoin projects that have been at the forefront of developer activity over the past month. Crypto analyst Aaryamann Shrivastava reveals the June projections of three of them.
Santiment: These 10 RWA altcoin projects are in the focus of developers!
As you have been following on Kriptokoin.com, the market has gained new momentum. Bitcoin, the leading crypto, has also hit $71,000, while altcoins are also on a bullish trajectory. In this positive atmosphere, RWA tokens are becoming increasingly popular among investors and developers for their performance. Last month, Santiment, a cryptocurrency analytics platform, published a list of the RWA altcoin projects most focused on by developers. According to it, Chainlink (LINK) is at the top of the list. It is also followed by Synthetix (SNX) and Centrifuge (CFG). Santiment provided the following explanation for their analysis:
Here are the best RealWorldAssets of crypto by development. This list was compiled by counting all non-redundant github activity and averaging these daily activities over the last 30 days. Chainlink still sits on the throne as the most advanced coin in this sector. Also, Maker, Oraichain and Polymesh have shown notable gains.
Santiment’s list shows the RWA altcoin projects with the highest developer activity. Other RWA altcoin projects that made the list include Oraichain (ORAI), Dusk Foundation (DUSK), Maker DAO (MKR), Polymesh Network (POLYX), Ixswap (IXS), Defactor (FACTR) and Reserve Protocol (RSR). Santiment emphasizes that Maker, Oraichain and Polymesh in particular have experienced significant increases in developer activity.
Leading RWA altcoin: Chainlink (LINK)
Chainlink is also following broader market cues that point to a slight correction for the altcoin. The month of May was profitable for both the asset and investors, with the price surging by 44%. LINK recently attempted to break through the critical barrier of $18.78. The token failed to cross this level in April. Failure to break this level caused the LINK price to fall to $17.7. Now, if the decline does not stop, a drop to $ 16.55 is possible. However, breaking above this resistance could start the recovery from recent losses, pushing LINK to $20 and above.
Synthetix Network (SNX): Waiting to break out!
Synthetix is not among the top 50 or even top 100 assets in the crypto market. However, Synthetix is still an important RWA coin project. With a market capitalization of $876 million, SNX grew during the recent Artificial Intelligence (AI) hype wave. However, the rise could not continue. Thus, causing a drop in the price of SNX. As a result, the altcoin consolidated below $3.15. However, it is hovering above $2.33. If any of the price levels are broken, the consolidation thesis will become invalid and result in a rally or a crash.
Maker (MKR): Bears are pressing
Maker’s price is currently at a three-month low of $2,384. The altcoin has been in a bear trend since early April. Thus, it has fallen from its high of $4,000 to its current price point. MKR, which is hovering above support at $2,556, is likely to fall below this support. It is even possible that the resulting bearish trend could send it to a low of $2,271. On the other hand, bullish signals from the rest of the market are likely to trigger MKR’s rebound. This will take it through the resistance between $2,693 and $3,159. Breaking this resistance would invalidate the bearish thesis.
Follow us on Twitter, Facebook and Instagram, and join our Telegram and YouTube channelto stay up to date with breaking news !
