The real world asset (RWA) token market cap now stands at $5.54 billion, an increase of over 31% in the last 24 hours, according to CoinGecko data.

Of the top five tokens in the RWA token sub-sector, the largest gainers were POLYX +4.74% , the native token of the Polymesh blockchain, which surged by 86.5%, Centrifuge, which saw a rise of 46.5%, and Ondo, which experienced an increase of 33% in the past 24 hours.

Polymesh is a blockchain project designed specifically for security tokens and is one of many protocols involved in the tokenization of real world assets, where rights to an asset are converted into digital tokens on a blockchain.

Real world assets encompass a wide range of tangible and intangible items, from physical properties to patents and copyrights. The tokenization of real world assets promises to revolutionized how these assets are handled and traded, a shift that could led to increased liquidity, accessibility, and efficiency in asset management.

Memecoin market cap rally

The memecoin market cap has also increased, gaining 16.0% in the past 24 hours, according to CoinGecko data.

All of the top five memecoins by market capitalization in the CoinGecko memecoin market capitalization category have posted double-digit gains in the past 24 hours, with the exception of Shiba Inu, which experienced a more modest 7% increase in the same period.

Floki, among the top five memecoins by market cap, has demonstrated the most notable rally in the past 24 hours, surging by over 38%, at 6:19 a.m. ET, according to The Block's Price Page. 

Floki has rallied over 38% in the past 24 hours. Image: The Block.