Top 10 RWA Cryptocurrencies by Development Activity in the Past Month

TL;DR

• Real-world asset (RWA) cryptocurrencies have surpassed a market cap of $30 billion, with Chainlink (LINK) leading in development activity.
• LINK's price increased by 16% over the last week, with analysts predicting further gains toward targets of $32 to $102.

Overview of RWA Cryptocurrencies

As of November 8, 2024, real-world asset (RWA) cryptocurrencies have gained considerable traction, boasting a combined market capitalization of nearly $32 billion. These tokens are backed by tangible assets such as real estate, commodities, or collectibles. This article highlights the top 10 RWA cryptocurrencies based on their development activity over the last month.

According to Santiment, Chainlink (LINK) tops the list with a score of 739.6, showing a remarkable 14,450% increase in development activity during the specified period.

Synthetix (SNX) and Dusk (DUSK) follow in second and third place, with scores of 254.03 and 66.07, respectively. Orachain Token (ORAI) and Sky (SKY) complete the top five. Other notable cryptocurrencies in this category include Maker (MKR), Polymesh (POLYX), and Centrifuge (CFG).

Santiment uses its Ecosystem Dev Activity Dashboard to evaluate the development activity across different blockchains and their decentralized applications (dApps).

"These events are filtered to ensure they reflect real programming progress, excluding low-value actions," the Santiment team explained.

Chainlink's Price Movement and Future Predictions

Chainlink has experienced significant gains recently, with its price increasing by 16% over the past week, currently trading around $13.20 according to CoinMarketCap data.

Industry analysts suggest that LINK is poised for further price increases. One user, CryptoBullet, stated that both LINK's price and RSI are "breaking out," which could lead to targets of $38, $59, and eventually $102. Another analyst, Cephii, has a more conservative target of $32 by January.