Altcoins
5 Real World Asset (RWA) Altcoins to Trade in August 2024️
The real-world asset (RWA) sector remains a booming industry, with the combined value of all these tokens amounting to $35 billion. However, determining which is the best option to add to your portfolio can be a challenge.
So, BeInCrypto has put together a list of five RWA tokens that investors should keep an eye on.
Avalanche (AVAX)
Although it may not have been noted stellar is rising this month, Avalanche’s price remains a must-have token. One of the main 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 price is currently stuck below 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 signals from the market.
Learn more: How to Buy Avalanche (AVAX) and Everything You Need to Know
Avalanche Price Analysis. Source: TradingView
However, if the price fails to break above this threshold, the consolidation that AVAX is facing will continue, holding above the support at $24.43. Losing this support would invalidate the bullish thesis.
Creator (MKR)
Maker’s price is also expected to increase as Endgame approaches its launch. This proposal was made in 2022, and since then, Maker DAO worked on the tools and foundations needed to evolve the subDAO ecosystem.
This also includes scaling the DAI MKR’s offering is expected to reach $100 billion. Scheduled to launch in the summer of 2024, MKR could take advantage of this hype to break through the resistance at $3,159 and secure $3,000 as a support floor. This would allow for additional growth and satisfy the enthusiasm of MKR investors.
Learn more: Maker (MKR) Price Prediction 2023/2025/2030
At the same time, Maker price has consolidated the $2,555 level as a strong support floor, and its loss could erase recent gains. MKR could end up falling to the $2,271 low as a result.
Lumerin (LMR)
Over the past month, Lumerin has become one of the best performing real-world assets, surging by over 142%. In doing so, Lumerin’s price has risen from $0.009 to $0.022 at the time of writing.
The next major resistance for the altcoin is at $0.026, and breaking through it would allow LMR to surge further. The RWA token has already broken through once, and another attempt would require $0.026 to consolidate as support.
Learn more: How to Invest in Real World Crypto Assets (RWA)?
Another failure could send LMR to $0.019, in losses, which would mean that the bullish thesis is invalidated. The real-world asset would also end up erasing all the profits it had gained recently.
MANTRA (OM)
MANTRA is another real-world asset that has performed well. The altcoin’s massive rally during the month of July saw OM set a new all-time high at $1.41.
Since then, the crypto asset has declined significantly, erasing a third of the gains seen recently. The drawdown caused OM to lose the $1.20 support. However, the RWA asset is still holding above the $1.04 support.
Learn more: What are Tokenized Real World Assets (RWA)?
If this support were to break, OM would have a chance to bounce from the support at $0.95. A drop below this level could send the altcoin down to $0.79.
Maple (MPL)
While Maple Bitcoin hasn’t had a stellar July, nor is it seeing any major developments, but it’s still an asset that investors should be wary of. The real-world asset is up 55% in the past month and is trading at $17.97 at the time of writing.
The biggest hurdle on the MPL upside has been $21.06. The altcoin has failed to break above it twice and has not been able to close above it since mid-April. If that happens, Maple price would have a chance to rise to $25.76 and continue its rally.
Learn more: What are Tokenized Real World Assets (RWA)?
However, if the breakout fails, there is a chance that MPL may not be able to sustain above the $15.51 support. Its loss would send the RWA token to $11.16, invalidating the bullish thesis.
Disclaimer
In accordance with the Trust Project This price analysis article is provided for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our Terms and conditions, Privacy PolicyAnd Disclaimer have been updated.