In this episode of Coin Street headlines, we dive into the following stories; The total on-chain value of RWAs has nearly doubled this year as financial institutions increasingly enter the space. A significant 11% surge in cryptocurrency supporting RWA tokenization, with the market cap reaching an all-time high of just below $76 billion. Insights from NYDIG on the challenges facing crypto-buying firms in a saturated market, emphasizing the importance of execution and differentiation. Bitstamp’s impressive 21% rise in crypto trading volume, surpassing Robinhood for the first time since its acquisition. A look at the recent trends in NFT sales, which have increased by 27% in August, suggesting a potential revival of interest in the metaverse. Jane King with the latest from the NYSE.
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The total on-chain value of real world assets has almost doubled since the start of the year as financial institutions flood into the space.
Cryptocurrencies supporting the real world asset tokenization space pumped 11% this week as the total value of tokenized RWAs hit a new record high.
Over the past seven days.
The RWA token market cap has surged from around 67 billion to an all-time high. of just below 76 billion according to coin market cap.
Well, the easy money era of crypto treasury has ended.
Analysts have raised concerns that the market for crypto buying firms is oversaturated, and many of them may not survive.
The report from NYDIG says at the current player versus player stage, a treasury company's success depends increasingly on execution, differentiation, and timing rather than simply copying the micro strategy.
Bit stamp recorded a 21% rise in crypto trading volume to about $14.5 billion in August, slipping Robin Hood for the first time since it was acquired by the firm.
According to a company report from Robin Hood, the total crypto nominal volumes fell 18% in August compared to July, reaching 13.7 billion.
Data shows this volume has been trending down for Robin Hood since November when it registered a record quarter but ticked up in. before slumping again in August, and NFT sales are up 27% in August.
Dap radar analyst Sarah Gergolas says the metaverse may not be dead after all.
NFT sales linked to the virtual worlds recorded their second consecutive month of heightened activity.
The metaverse saw peak hype in 2021 and 2022, driven by speculation and excitement about what the technology could achieve, but has slowed down since then, and that's the latest Coin Street headlines.