Altcoin Market Prepares for Acceleration in Crypto Market Outlook
The altcoin market, an important part of the blockchain ecosystem, remains strong despite recent volatility. Thanks to the success of Bitcoin, this sector is gaining global attention, and experts predict significant growth in the next two years. Notably, leading layer one blockchains like Solana (SOL), Ethereum (ETH), XRP, and Cardano (ADA) have seen an increase in cash inflows in 2023, even with regulatory scrutiny in different jurisdictions.
The Rise of RWA Tokenization
The rise of cryptocurrencies during the COVID-19 pandemic has brought transformative changes to traditional finance. Major financial institutions are increasingly adopting blockchain technology to explore new markets, including government bonds and real estate.
According to Coingecko data, the RWA market has shown strong performance, with a market cap of almost $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 field.
UBXS: A Promising Player
Among the notable rise in RWA tokenization, UBXS has recently emerged as a promising project. With a significant 59% increase in the past week, UBXS reached a trading price of $0.086 last Friday. Crypto analyst Michaël van de Poppe has a positive outlook on UBXS, suggesting a potential rise to 13 cents during the current market breakout. Additionally, UBXS’s daily Relative Strength Index (RSI) shows a bullish divergence, despite the observed daily death cross between the 50 and 200 Moving Averages (MA).
The altcoin market is expected to gain further momentum in the coming period, as the cycle has just begun. RWA tokenization will be one of the main topics, and UBXS is a project to watch. It has held a crucial support level and appears ready for a new surge towards $0.09 and $0.13.
So, is the RWA tokenization explosion just getting started? What real-world assets do you anticipate seeing on the blockchain next?