Crypto Market Sees Strong Growth in RWA Tokenization Industry

The crypto market has seen significant growth in recent times, particularly in the Real World Asset (RWA) tokenization industry. Three top-performing tokens - Quant (QNT), Chainlink (LINK), and Ondo - have made impressive gains, with QNT jumping by over 40% in the last 24 hours.

Quant's strong comeback began after several UK banks, including Lloyds, Barclays, Monzo, and HSBC UK, executed tokenized deposits through the Great British Tokenized Deposit (GBTD) initiative. This transaction was powered by Quant's technology, which has now been recognized as a key player in the industry.

The daily chart shows that QNT bottomed at $55.48 before starting its strong comeback, eventually reaching a high of $104 today. The token has moved above the crucial resistance level of $84.71 and is setting up a golden cross pattern, indicating further momentum beyond the initial spike.

However, there is a risk that QNT has become highly overbought, with an RSI of 80. This could lead to a retreat and retest of the key support level of $84.7.

Chainlink, on the other hand, has also bounced back in recent months, moving from a low of $7.15 as demand for tokenized assets continues to rise. The chart is already in a golden-cross setup and has held/retested key support near $10.26, with a clear path toward $15 and then $20 if it clears resistance.

Ondo has also seen significant growth after partnering with BlackRock and receiving an innovation exemption from the Securities and Exchange Commission (SEC). The coin's price has jumped and crossed the important resistance level of $0.4843, confirming a bullish outlook.