Comment
Author: Admin | 2025-04-28
Practically every cryptocurrency in the top 50 by market capitalization is having a rough time right now, led by a precipitous drop in the value of Bitcoin (BTC).Bitcoin Sell-Off Impact: A severe downturn across the cryptocurrency market, led by a sharp fall in Bitcoin, influenced most altcoins.RWA Token Decline: Most real-world asset (RWA) tokens experienced significant losses this week.Fed Statement Effects: An unexpected Fed statement on Bitcoin contributed to market volatility, causing a brief BTC price crash.Market Cap Reduction: Over $1.5 trillion was wiped from U.S. stocks; RWA tokens' market cap is notably down; some individual tokens like LINK and ONDO outperformed others.Red 🩸is the word this week. Practically every cryptocurrency in the top 50 by market capitalization is having a rough time right now, led by a precipitous drop in the value of Bitcoin (BTC).Real-world asset (RWA) tokens haven’t escaped unscathed. The vast majority of RWA tokens have taken a significant blow over the last week.Let’s take a closer look, shall we?>> Did you miss last week’s RWA update? Check it out here.Yesterday, the Fed cut interest rates by 25 basis points, as most analysts had anticipated.What was not anticipated, however, was Fed Chair Jerome Powell explicitly stating that the Fed "cannot hold Bitcoin" and was not seeking to change that.This statement precipitated a flash crash that saw BTC briefly collapse below $100K before recovering to around $100,500 as of writing.Despite the volatility, Bitcoin (BTC) is down just 0.3% for the week.Meanwhile, over $1.5 trillion was wiped off the U.S. stock market yesterday as sentiment shifted bearish.Altcoins also took a beating. More than 90% of alts are in the red this week, with Ethereum (ETH) falling back to the $3,600 range and the average altcoin losing 10% in the last week.The CMC Crypto Fear & Greed Index has dropped to 69, its lowest value since early November 2024.With the altcoin market taking a serious hit, it is likely no surprise that the vast majority of RWA tokens are also in the red this week.As it stands, more than 90% of RWA tokens are in the negative over the last seven days, though a handful have weathered the storm surprisingly well.These include:Chainlink (LINK): gained 4% to reach a $15.87 billion market cap.Ondo (ONDO): gained 2.1% to reach a $2.54 billion market cap.Among smaller RWA tokens, some have managed to lock in significant growth over the measured timeframe. ELYSIA (EL) is leading the pack with an 87.5% gain, whereas CANTO (CANTO) secured a still-impressive 18.9%.But not all projects fared quite so well. This week’s worst performers include:Goldfinch (GFI): lost 24.8% and fell to a $49 million market cap.Boson Protocol (BOSON): lost 24.5% and fell to a $47.5 million market cap.Source: DefiLlamaThough RWA tokens are currently experiencing a broad sell-off, on-chain metrics appear to be improving. The total value locked (TVL) in RWA protocols increased to an all-time high of $7.3 billion today—though the vast majority is associated with on-chain yield coin providers like Hashnote and the Usual protocol.According to DefiLlama's narrative
Add Comment