Goldfinch, a crypto lending platform built on Ethereum, is in a bad spot. Its native token, GFI, is down over 75% from its April high. Many investors are exploring other RWA tokens like Ondo Finance or Realio.
The GFI situation is worsened by ongoing project-related issues that may lead to further selling pressure, adversely affecting holders.
Goldfinch Troubles
In just the past day, GFI has dropped more than 15% in 25 hours, and there is potential for even greater declines in the coming days.
This Goldfinch crypto downturn coincides with rising concerns about a high rate of loan defaults.
Lenders are increasingly worried that borrowers are not honoring their loan agreements, prompting some to pull out of the platform.
It goes from bad to worse.
Rising loan defaults, coupled with the free-falling GFI token, are straining relations between the platform’s founders and leaders. Recently, Goldfinch lost its risk management advisor, Ajay Gill, who came on board in June to address the alarming loan default rates.
There seems to be no progress in resolving the pressing loan default crisis.
Since its launch in 2021, Goldfinch has processed over $60 million in loans and aims to regain its position. To achieve this, they first need to find a new advisor now that Gill has departed.
3 RWA Tokens To Explore In October 2024
Even with Goldfinch’s crypto troubles, it is not to say there are no other opportunities to explore in the burgeoning real-world asset (RWA) market.
BlackRock is neck-dip in RWA, tokenizing United States Treasuries. Its CEO earlier said the sphere will eventually command over $1 trillion in market cap.
According to Coingecko, the RWA sector is up 5% to over $7.7 billion.
Investors can explore the following RWA tokenization projects, diversifying from the crashing GFI token:
- ONDO Finance (ONDO): This is the second-largest RWA platform with a market cap of over $7.7 billion. It seeks to tokenize financial instruments like treasuries, bringing them on-chain. While it rides on the decentralization of Ethereum, all tokenized assets comply with existing securities law. Ondo Finance might be down 14% in the past week but up 742% from all-time lows of $0.082.
- Landshare (LAND): Landshare is focused on real-estate tokenization while complying with existing laws. Through tokenization, investors gain access to real estate, regardless of location. LAND is the native utility and governance token, priming the Landshare ecosystem. The token is up nearly 3X since sinking to all-time lows in October 2023.
- Realio (RIO): Realio is a software-as-a-service platform for tokenizing real-world assets. Integrating the blockchain makes it more transparent, reliable, and secure. RIO is the main currency. It is up 51X since launching two years ago in October 2022.
Pepe Unchained: RWA Investors Diversifying With PEPU
The value proposition of RWA tokens could mean decent ROI for investors in the long term.
Those who want to see this now can choose Pepe Unchained, a meme coin project with a twist.
With over $22.9 million raised, investors are pouring in, searching for gems—and PEPU is proving to be one.
Can it be the next better version of SHIB or PEPE?
Pepe Unchained wants to build an Ethereum layer-2 for meme coins. The platform, Pepe Chain, will offer a solution for developers and traders seeking a scalable and low-fee environment without losing the security of Ethereum.
Pepe Unchained will be compatible with Ethereum, feature a dedicated block explorer, and include a decentralized exchange (DEX).
On launch, the “Frens with benefit” program will boost platform activity and attract developers.
PEPU, the native token, is trading for just $0.01179. On launch, it could easily 100X, outperforming all RWA tokens, including ONDO and GFI.
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