Explore the Top 5 RWA Altcoins for September 2024 Portfolio
Real World Assets (RWAs) are digital representations of tangible assets like real estate, commodities, or art, tokenized on the blockchain for easier trading and ownership. As the crypto market continues to evolve, RWAs are gaining traction for their ability to bridge the gap between traditional finance and decentralized finance (DeFi).
Trading RWA altcoins in September 2024 could be particularly lucrative, as these tokens offer exposure to real-world value while benefiting from the transparency and security of blockchain technology. Popular coins and up-and-coming initiatives with significant development potential are mixed together on the list.
1. Maker (MKR)
The MakerDAO project’s governance token, MKR, garnered media attention in August due to encouraging advancements. Leading cryptocurrency asset management company Grayscale introduced MKR to its growing portfolio of investment funds two weeks ago. The Maker Protocol saw a spike in network activity during that time, which helped push the price back to $2,000. MKR is trading at $2,078 right now.
- The daily chart shows that since August 8, MKR has been moving between a small range of $1,868 and $2,201.
- It looks like bears are trying to send the price below $2,000 once more, but strong support at $2,024 might keep it above that crucial mark.
- Should this be the case, MKR’s price may rise to $2,259, the 61.8% Fibonacci level.
2. Ondo (ONDO)
Over the past 30 days, there has been a 29.91% decline in ONDO‘s price. This analysis indicates that the fall presents a unique buying opportunity, despite the fact that some market players may find this discouraging. The rate at which Blackrock purchases the altcoin is a major justification for this thesis. The American investment tycoon may buy additional ONDO in September if present trends continue.
- From a technical perspective, the token forms a descending triangle, suggesting that sellers’ weariness is beginning.
- At its current price of $0.70, ONDO may decline, approaching the $0.65 support level.
- However, if it falls to this level, there may be a rise.
3. Pendle (PENDLE)
Pendle, ranked as the 109th most valuable project in the cryptocurrency industry, allows future yields to be traded and tokenized. As a result, it is among the best RWA altcoins to be aware of in September. Furthermore, PENDLE is now experiencing daily token unlocks. These unlocks have the potential to affect the price of the token, even when the amounts are minimal.
- PENDLE‘s price has already increased by roughly 18.99% in the last seven days.
- The cryptocurrency is trading inside an ascending channel, according to the daily chart.
- In the immediate term, the token might rise to $3.90 if buying pressure increases.
4. Mantra (OM)
Mantra‘s native currency, OM, has been one of the top altcoins to watch since July. Mantra is an RWA Layer-1 blockchain that prioritizes security. With OM trading at $0.9222 at the time of writing, its price has increased by an astounding 4843.20% in the last year.
- Nearing a crucial support level at $0.93, the altcoin is approaching it on the daily chart.
- It appears that $0.85 is a solid zone for a possible bounce; therefore, if it falls below this support, the price could drop there.
- OM’s price could reach $1.11 if there is a rebound in the context of increased market optimism.
5. Axelar (AXL)
Axelar completes the list, with its token (AXL) up 7.47% in the last week. As a bridge between large-scale organizations and blockchain technology, Axelar is essential to the tokenization of real-world assets.
- If the altcoin keeps up its speed and avoids falling to $0.48, it might rise from its current trading price of $0.6036 to $0.80 in September.
- However, if bulls are unable to stop a downturn, a collapse could still occur.
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