Bittime - Big players (whales) in the crypto world are busy buying up interesting new crypto assets. According to a report from Lookonchain, they are focusing on tokenizing real-world assets (RWA).
Real World Assets (RWA) in the Crypto World
RWA (Real-world asset) is a physical asset represented by a digital token on the blockchain. These physical assets can be property, art objects, bonds, or others.
Just like other tokens, RWA functions using smart contracts on the blockchain. Uniquely, one RWA token can represent ownership of the entire physical asset, or even just a portion of it.
With RWA, non-digital objects such as property or art objects can become part of a decentralized financial system (DeFi).
This is already starting to happen! According to Chainlink, "The total value of tokenized real-world assets locked in the DeFi ecosystem will reach approximately $5 billion by December 2023."
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Whale Activity
According to crypto tracker Lookonchain , in the past month, one whale withdrew 6.53 million ONDO, the native token of Ondo Finance, from crypto exchange Bybit. The amount is worth more than $6 million.
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Ondo Finance aims to provide institutional-grade financial products and services via public blockchain by tokenizing real-world assets and developing financial protocols that integrate with those tokens.
Also read: Understanding the Role of Real World Assets (RWA) in Stablecoin Development
Lookonchain also noted that another whale withdrew 1.98 million ONDO worth nearly $1.83 million from crypto exchange Gate.io within an hour on Sunday.
Hours earlier, another whale withdrew 937,600 ONDO worth $864,867 from Gate.io, according to the blockchain tracker.
ONDO price currently stands at $0.922. The 91st ranked crypto asset by market capitalization is up more than 8% in the last 24 hours and almost 124% in the past week. The token also hit an all-time high of $0.9702 on Monday morning, according to CoinGecko.
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Another report from Lookonchain said a whale deposited 11,275 Ethereum (ETH) worth $37.4 million into crypto exchange Binance, losing around $500,000 over the weekend. The whale then tries to buy back this second-ranked crypto asset after the price rises.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
HomeCoin: An Innovative Real-World Asset (RWA) Based Stablecoin
Real World Asset (RWA) Tokenization and Its Impact on Digital Assets
Tangible: Breaking the Real-World Asset (RWA) Investment Deadlock with Tokenization
Complete Guide on How to Tokenize Real World Assets (RWA) in 2024
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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