RWA total market capitalization returns to $3.8 trillion: Stellar (XLM), Injective (INJ) and Keeta (KTA) lead the way

The total market capitalization of Crypto Assets strongly returned to the $3.8 trillion mark on August 4, rising 2.3% within 24 hours, temporarily shaking off the recent pullback gloom. Among them, the real-world assets (RWA) zone became the leader with an average rise of 6.9%. Stellar (XLM), Injective (INJ), and Keeta (KTA) led the RWA Tokens with increases of 9.34%, 7.16%, and 7.09%, respectively. Algorand (ALGO), Chainlink (LINK), Quant (QNT), and XDC Network (XDC) also performed strongly. Although Ondo Finance (ONDO) dominated the zone narrative, it only rose 2.56% that day. This RWA fluctuation may be driven by a White House report highlighting the tokenization potential of ONDO assets. This article will analyze the technical aspects of the leading Tokens, the sustainability of the RWA zone, and investment strategies under the fluctuating market conditions in August.

RWA zone stands out, leading tokens experience a widespread rise On August 4th, as the crypto market as a whole began to recover, the RWA (Real World Assets) sector performed particularly well, becoming the core driving force behind the market capitalization rebound:

• Leading Surge Team: Stellar (XLM) +9.34%, Injective (INJ) +7.16%, Keeta (KTA) +7.09%
• Follow-up Tier: Algorand (ALGO), Chainlink (LINK), Quant (QNT), XDC Network (XDC) and other mainstream RWA concept Tokens are rising.
• Narrative Leader ONDO’s Rise Lags: Despite becoming the industry focus with its institutional-grade RWA tokenization positioning (recently even mentioned in a White House report), Ondo Finance (ONDO) only rose 2.56% that day, indicating a rotation of funds within the zone.

The White House report ignites expectations, ONDO tokenization potential officially endorsed The concentrated outbreak of the RWA zone is not a coincidence. The White House report released last week particularly emphasized the potential of ONDO in the field of asset tokenization, triggering the market to reassess the value of the RWA track. ONDO focuses on bringing traditional financial assets (such as government bonds) on-chain, and its unique institutional positioning allows it to occupy an important position in the niche track. Although the endorsement from this report did not immediately boost ONDO’s price (possibly due to short-term benefits being realized), it injected policy attention into the entire RWA zone.

Technical Analysis of Leading Tokens: KTA, XLM, ONDO

• Keeta (KTA)：
  • Closing price 1.07 USD, standing above the Bollinger Band middle line, indicating short-term strength.
  • Recently, after a pullback to the low point of 0.91 USD, it rebounded, forming a technical “pullback confirmation” pattern.
  • On-Balance Volume (OBV) reports 6.341 million, showing early signs of capital accumulation.
• Stellar (XLM)：
  • Trading at $0.4083, slightly above its SuperTrend support level of $0.4042.
  • Although it has broken through the short-term downtrend line, the hourly chart shows local weakness signals.
  • Be cautious: Since July 25, it has been in a larger descending channel. If it reverses at the hourly level, the rebound may pause.
• Ondo Finance (ONDO)：
  • Despite being the third largest RWA Token by market capitalization and having strong fundamentals, the 2.56% rise on the day significantly lagged behind peers in the zone, showing a pullback.

Conclusion: Is the RWA rise a flash in the pan or the starting point of a new cycle? The RWA zone achieved the highest gain in a single day due to policy attention and capital rotation, but its sustainability is facing challenges:

1. Leading Pump Potential: Although ONDO’s short-term rise lags behind, its core positioning in the asset tokenization field and endorsement from the White House still give it the potential to lead the zone. The diversification of businesses from Chainlink ( oracle ) and Stellar ( payment network ) may also contribute to its ongoing ability to attract funds.
2. Market Environment Challenges: August is known for its high volatility (“August Volatility Curse”), market sentiment is fickle, and traders need to remain cautious.
3. Long-term Layout Window: For investors with a strong risk tolerance, the current phase is often regarded as a window period for accumulating chips in anticipation of a potential rise in the fourth quarter (Q4).