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Will Avalanche Be the First RWA Coin to Cross $10B Market Cap?

source-logo  coinedition.com 17 August 2024 10:25, UTC

Avalanche (AVAX) is leading the pack among Real World Asset (RWA) coins in the race to hit a $10 billion market cap. With a current price of $20.35, AVAX has a market cap of $8.04 billion, placing it closest to this milestone.

Despite a 3.21% drop in the last 24 hours, Avalanche’s strong ecosystem and the recent launch of applications for its Codebase Season 2 incubator position it for continued growth. This initiative invites builders to apply for a $50,000 non-dilutive stipend and compete for a share of the $1 million prize pool, which is likely to drive further interest in the network.

Crypto News 🗞️ Avalanche's Codebase Season 2 Applications Opens 👨🏾‍💻🌐

Inviting all innovative founders & builders to @avax Codebase Incubator S2.

Builders on #Avalanche can apply to get a $50k non-dilutive stipend & pitch for a share of the $1M prize pool.#AvalancheCodebase ⤵️ pic.twitter.com/osZgPhaIkE

— Akahilz🐯🎓||| Creator (👑 ,🌍,💙,🧡) (@Akahilz2) August 16, 2024

Chainlink (LINK) is also in the race, priced at $10.23 with a market cap of $6.22 billion. LINK experienced a slight decline of 3.25% in the last 24 hours. Moreover, Chainlink has been expanding its reach, with its Data Streams and Verifiable Random Function (VRF) now live on Base, a platform incubated by Coinbase.

Maker (MKR), although priced higher at $1,966.24 per coin, has a smaller market cap of $1.83 billion. Maker has seen a 4.24% decline in the last 24 hours. However, it remains a key player in the decentralized finance (DeFi) space, particularly due to its role in maintaining the stability of the DAI stablecoin.

Subsequently, VeChain (VET) is priced at $0.022084 and a market cap of $1.79 billion, has declined by 4.12% in the last 24 hours. Despite its strong focus on supply chain solutions and partnerships with major corporations, VeChain has a long way to go before it can compete with the likes of Avalanche and Chainlink.

Ondo, priced at $0.716933 with a market cap of $996.36 million, is the smallest of the group. Ondo has experienced a 2.90% drop in the last 24 hours. As per Changellyblog, Ondo’s price in 2025 is expected to have a minimum of around $1.28. The maximum projected price could be approximately $1.50, with an average trading price of around $1.32.

Avalanche leads the RWA race toward a $10B market cap, but Chainlink’s growth and Maker’s DeFi dominance keep the competition intense.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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