Crypto Market Outlook : Altcoin Market Gears Up for Acceleration!

The post Crypto Market Outlook : Altcoin Market Gears Up for Acceleration! appeared first on Coinpedia Fintech News

The altcoin market, a pivotal segment of the blockchain ecosystem, remains resilient despite recent volatility. Boosted by Bitcoin’s monumental success, this sector is drawing global attention, with experts forecasting significant growth over the next 24 months. Notably, cash inflows into leading layer one blockchains like Solana (SOL), Ethereum (ETH), XRP, and Cardano (ADA) have surged in 2023, even amidst regulatory scrutiny in various jurisdictions.

The Rise of RWA Tokenization 

The rise of cryptocurrencies during the COVID-19 pandemic has catalyzed transformative changes in traditional finance. Major financial institutions are increasingly adopting blockchain technology to explore new markets, including government bonds and real estate.

Coingecko data highlights the RWA market’s robust performance, with a market cap nearing $2.2 billion and a daily trading volume of approximately $175 million. Key players in RWA tokenization, such as Centrifuge, Creditcoin, UBXS, and Polymesh, continue to drive innovation in this space.

UBXS: A Player to Watch!

Amid the notable rise in RWA tokenization, UBXS has recently emerged with a compelling upward trajectory. With a notable 59% increase over the past week, UBXS reached a trading price of $0.086 last Friday. Crypto analyst Michaël van de Poppe remains bullish on UBXS, suggesting a potential rise to 13 cents amid the current market breakout. Furthermore, UBXS’s daily Relative Strength Index (RSI) indicates a bullish divergence, notwithstanding the observed daily death cross between the 50 and 200 Moving Averages (MA).

So, is the RWA tokenization explosion just getting started? What real-world assets do you expect to see on the blockchain next?