- AVAX, Chainlink, and Maker are the top 50 cryptocurrencies in the global crypto market.
- Avalanche is the largest of all the three cryptocurrencies, with a market cap of $11.163B.
Real World Assets (RWA) in the crypto space refer to the tokenization of tangible assets that exist in the physical world, bringing them on-chain. This further includes the issuance of capital market products on-chain, where digital securities are tokenized and offered to retail customers.
The protocols enabling the tokenization of real-world assets have their own native tokens, which have seen growing demand.
The process of tokenizing these assets facilitates easier trade and investment in digital markets. A few of the most popularly known tokens that are joining RWA are Avalanche, Chainlink, and Maker.
Let’s look at their technicals and price overview to understand how they can perform in the future.
1. Avalanche
Avalanche crypto has witnessed a decline of 8.7% in its trading volume in the last 24 hours from the press time. This shows that there has been no significant activity in the crypto. The price of the crypto further is up by 915% from its all-time low price of $2.79.
AVAX has encountered significant resistance at higher levels for an extended period, forming a dynamic trendline.
AVAX/USD Chart by TradingView
This resistance has confined AVAX within a narrow trading range. Recently, the cryptocurrency has been consolidating within this limited zone, suggesting a period of stability that might precede a potential breakout.
If AVAX surpasses the critical $15.0 resistance level, it could initiate a move toward the next resistance trendline.
Such a breakout would indicate renewed bullish momentum and attract increased buying interest, potentially driving the price higher.
2. Chainlink
The market cap value of the Chainlink crypto is $8.876B, the 15th largest cryptocurrency in the global crypto market. 60% of its maximum supply is circulating in the market.
LINK has faced significant higher-level resistance for an extended period, leading to a dynamic trendline.
LINK/USD Chart by TradingView
Over a shorter timeframe, the cryptocurrency has been consolidating within this limited zone, indicating a period of stability before a potential breakout.
If LINK surpasses the critical $15.0 resistance level, it could pave the way toward the next resistance trendline.
Such a breakout would signal renewed bullish momentum and could attract increased buying interest, potentially driving the price higher.
3. Maker
The MKR crypto has a market cap of $2.383B at press time, which makes it the 41st largest cryptocurrency in the global crypto market.
It also has 92% of its maximum supply circulating in the market, which results in a circulating supply of 929.9K MKR, and the crypto’s maximum supply is 1.005M MKR.
The Maker crypto price has been trading inside a falling wedge pattern, which has caused the price to decline to certain lows from the highs.
MKR/USD Chart by TradingView
After forming a swing high of $4075 on 31st March 2024, the price of the MKR crypto started to witness strong profit booking. Since then, the crypto’s price lost its value by 35% and is trading at the level of $2558 at press time.
The crypto price has broken out further above the pattern recently, but the crypto lacks volume. If the price gets pushed by good volume in the future and breaks above the level of $2755 with good momentum, higher levels might be seen.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.