This RWA cryptocurrency is up almost 40% in one week!

This increase in the price of the RWA OM cryptocurrency follows months of consolidation since mid-April. Analysts attribute this price increase to new partnerships and technological advancements in the Mantra ecosystem.

New partnerships support the growth of this crypto RWA

On June 5, Mantra announced an agreement with Zand Bank PJSC, a digital bank licensed by the Central Bank of the United Arab Emirates (UAE). The partnership aims to create a framework for real-world asset tokenization following the standards of the Dubai Virtual Asset Regulatory Authority (VARA). This strategic move also intends to strengthen regulatory compliance, investor protection and confidence in RWA tokenization in the UAE.

Read more: What are RWA Cryptocurrencies?

Mantra’s technological advancements have also played a key role in its recent growth. Last week, the project team announced its intention to collaborate with ONDO, one of the other flagship projects in the RWA sector.

The collaboration between Ondo Foundation and Mantra aims to promote a multi-chain vault that allows users to contribute to the ecosystem and earn high-quality returns. After the mainnet launch, this initiative will provide participants with ONDO and OM tokens to power the Mantra ecosystem.

ATH in sight for asset?

Technical analysis by CryptoSavingExpert highlights the potential for OM to exit its consolidation zone. The analyst even suggests that crypto RWA could reach $1.27 if it breaks the current resistance levels. But still, the coin could use the positive trend around RWA cryptocurrencies to increase in value and sign a new ATH.

To learn more: Interested in Mantra (OM), up 1,500% since January 1st? Come buy it on Binance.

OM price performance.
OM price performance. Source: X/CryptoSavingExp

Coingecko’s Crypto RWA Report 2024 highlights the importance gained by tokenizing real-world assets in cryptocurrencies, especially USD-pegged stablecoins and commodity-backed tokens like gold. The report also notes a 782% increase in tokenized cash products in 2023.

Currently, OM token is valued at $0.93 after increasing more than 32% in the last 7 days. It’s no wonder Mantra has been the RWA cryptocurrency to watch since the start of the year.

Moral of the story: OM, right now is the best.

Disclaimer

Disclaimer: In accordance with The Trust Project guidelines, BeInCrypto is committed to providing unbiased and transparent information. This article aims to provide accurate and relevant information. However, readers are encouraged to check the facts for themselves and seek professional advice before making any decisions based on this content.

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