Three Notable RWA Altcoins to Keep an Eye On for the Third Week of June

RWA Altcoins Gaining Attention This Week

This week, RWA Altcoins are in the spotlight, particularly Sky (Sky), Plume (Plume), and Centrifuge (CFG), which have displayed noticeably different trends. Sky is leading with a 19% increase over the week, largely due to the uptake of its newly enhanced manufacturer-based ecosystem.

In contrast, Plume has experienced a 21% decline following the unfortunate death of its co-founder. This drop is surprising, especially given the recent launch of its mainnet and significant backing from key investors.

On a more positive note, CFG has seen a surge of over 14% in just 24 hours. This spike came after it reached a $1 billion milestone, along with an expansion of its accessibility to real-world assets on the Solana platform.

Sky (Sky)

Sky Protocol is a decentralized financial system, evolving from traditional manufacturer protocols. It has introduced upgraded tokens, like USDS and empty, intended to succeed Dai and MKR.

Sky’s impressive performance over the past week, with a rise of 19%, makes it the leading token among the largest real-world asset (RWA) altcoins.

Currently, its market cap is nearing $1.9 billion, and there’s a swing of optimism surrounding it. If this positive trend continues, we might see it testing some resistance around $0.094, and possibly reaching $0.10. Yet, if the market dips below $0.075, potential downside targets could include $0.069 and $0.0635.

Plume (Plume)

Plume Network is a layer 1 blockchain dedicated to integrating real-world assets into DeFi through tokenization.

Support from major companies like YZI Labs and Apollo Global led to the successful launch of its much-anticipated Genesis Mainnet, aimed at Rwafi assets that generate yields.

However, the sudden loss of co-founder and CTO Eugene Shen has created confusion and concern, triggering both speculation and selling. Despite a robust investor base and onboarding of over 200 projects, the atmosphere around Public Trust has shaken trading volumes as rumors circulated regarding Shen’s passing.

Throughout the past week, Plume has declined by 21%, which has reduced its market capitalization to $200 million. If the bearish sentiment persists, the token could drop below $0.90. On the other hand, a reversal could see it facing resistance at $0.115, potentially aiming for $0.128 or even $0.142 if momentum strengthens.

Centrifuge (CFG)

Centrifuge focuses on the tokenization of real-world assets (RWAs). Asset Managers are utilizing this platform to offer financial products on-chain, enabling investors to access diverse, tokenized portfolios with real-time, transparent data.

The protocol has recently expanded into Solana with the launch of Derwa Tokens, which can be used for trading, lending, or as collateral across major DeFi platforms like Raydium, Kamino, and Lulo.

Just two days ago, Centrifuge announced it surpassed $1 billion in total real-world assets, marking a significant achievement for the RWA sector.

Centrifuge’s native token, CFG, has gained over 14% in the last 24 hours, boosting its market cap to approximately $108 million. It is currently battling to break through the $0.20 to $0.21 range, with an additional target of $0.264 if the momentum holds. Alternatively, if it fails to maintain support around $0.177, CFG could slide down to $0.167.