RWA Token Sector Sees Modest Decline This Week as Total Market Cap Dips 2.29% to $45.76B

The Real World Asset (RWA) token sector saw a modest decline this week, with the total market cap slipping 2.29% to $45.76 billion.

The Real World Asset (RWA) token sector saw a modest decline this week, with the total market cap slipping 2.29% to $45.76 billion.

Daily trading volume dropped 16.74% to $1.87 billion, and on-chain value fell 5.49% over the past month to $18.91 billion.

Despite the cooldown, user participation is rising. Total RWA asset holders climbed 6.12% to 98,820, hinting that investors are maintaining long-term conviction even as short-term volatility sets in.

Here's a closer look at some notable developments in the sector:

OM: Burn Proposal Aims to Reverse Bearish Sentiment

Marked down by 6.41% over 24 hours, OM is currently trading at $0.4959. The token has faced strong selling pressure, largely due to rumors of insider dumping and pessimistic sentiment.

To counter this, Mantra, the RWA tokenization platform behind OM, has proposed burning up to 300 million tokens (around 16.5% of total supply). This includes 150 million OM from founder John Patrick Mullin’s own stake.

150M $OM burned as promised – Over $78M USD! 🔥🫡🕉️Burning coins is like electrifying a circuit; create a spark and watch the energy flow. We should be seeing some nice price action in the days ahead.Huge respect to @jp_mullin888 and the entire @MANTRA_Chain team! 🫡🕉️This… pic.twitter.com/n3hkPZLLH4— Mantra DAO (@MANTRA_Chain) April 27, 2024

This massive supply shock could quickly flip sentiment, paving the way for a substantial rally. With demand likely to rebound after the recent sell-off, a continuation toward $1 seems plausible.

Hedera (HBAR): Tokeny Integration Brings Institutional Access

Trading at $0.1856 and down 2.17%, Hedera (HBAR) shows signs of strength with its integration with Tokeny Solutions, a tokenization firm that serves institutions like ABN AMRO and BNP Paribas. Tokeny manages over $28 billion in tokenized assets and has over 120 clients.

We’re excited to announce that @TokenySolutions, the leading onchain operating system for compliant asset tokenization, has integrated with @Hedera to scale institutional asset tokenization on the network 🏦— AvaLabs (@AvaLabs) April 26, 2024

This move could rapidly boost Hedera’s RWA credentials, setting up a potential run toward $1 and beyond as institutional adoption increases.

SUI: May 1 Unlock Looms, But TVL Shows Strength

SUI is currently priced at $3.56 with a key catalyst ahead—a 74 million token unlock (around $267.88 million) scheduled for May 1.

However, SUI’s Total Value Locked (TVL) has now surpassed $1 billion and is rapidly approaching $2 billion, showcasing the growing trust in the protocol for DeFi use cases. Moreover, the Relative Strength Index (RSI) stands at a neutral 55.10 and is on an upward trajectory, indicating that momentum is building rather than diminishing.

Massive $260M SUI Unlock Incoming 🚨On May 1st, ~74M $SUI (2.28% of supply) unlocks.Historically, big unlocks bring fear, volatility… and also opportunity.Here's the full picture, and why it's a lot more bullish than you think 👇 pic.twitter.com.

If SUI manages to maintain prices above current levels, a test of the resistance zone between $4.7-$5 seems likely in the near future.

ONDO: Elliott Wave Suggests Supercycle Rally

ONDO is making headlines with some serious technical analysis potential. Analyst Crypto Wave Vision suggests the cryptocurrency could be on track to reach $8, $20, or even $30.

This is based on a rare “1-2-1-2” Elliott Wave structure that the analyst believes is forming on the weekly chart.

$8, $20, or even $30 $ONDO? Sounds crazy — but it’s structurally possible. 🚀"We are now positioned on the *weekly chart* — and it looks *extremely bullish*.”It’s likely that $ONDO is forming a 1-2-1-2 structure, which often leads to a massive Wave 3 of a larger Wave 3.If… pic.twitter.com/n3hkPZLLH4— Crypto Wave Vision (@CryptoWaveVision) April