Polygon Sees Increased RWA Interest, Becomes Second to Ethereum

• Polygon has seen an increase in Real World Assets, witnessing multiple RWA launches.
• Founder Sandeep Nailwal acknowledges Polygon’s surge in RWA, second to Ethereum.
• MATIC surged past $0.5434 earlier today despite its recent dip to $0.5343.

In an astounding development, the Polygon network has seen a significant uptick in Real World Asset (RWA) interest, ranking second only to Ethereum. Aligning with Polygon’s increasing RWA value, the ecosystem’s native token MATIC has also seen a notable uptrend.

Reflecting on Polygon’s substantial development in the arena of Real World Assets, Founder Sandeep Nailwal has shared an X post. Together with the multiple RWA launches on Polygon, Nailwal also shared insights on the platform’s recent alliance with the top banks of Italy.

The Polygon Founder acknowledged the ecosystem’s rising interest in RWA, which resulted in Polygon’s growth following Ethereum. He wrote on X,

“So many RWA’s launching on Polygon organically is very encouraging. Polygon POS is already second only to Ethereum mainnet in terms of the RWA value created.”

Despite MATIC’s recent dip to $0.5343, the token has surged past $0.5434 earlier today. Over the last 24 hours, MATIC has experienced a slight decline of 0.63%. However, the token has seen a notable plummet of more than 7% in a month despite its marginal 1.7% increase over the last week. Boasting a market cap of $5.29 billion, MATIC secures the 20^th position among the top cryptocurrencies. The substantial decrease of 23% in the 24-hour trading volume, currently at $179.3 million, shows the declining trading activities.

In related news, Italy’s Cassa Depositi e Prestiti SpA (CDP) and Intesa Sanpaolo engaged in an alliance with Polygon in connection with the banks’ recent digital bond issuance. As per reports, the banks issued a 25 million euro ($27.22 million) bond with a four-month maturity on the Polygon network.