Cardano News: Trillion-Dollar Market Real Asset Tokenization Coming to ADA Blockchain with ChainCrib
The ChainCrib platform utilizes Cardano’s CIP-68 token standard to enable global investors to own a fraction of real estate, that would otherwise remain a dream for many over the years.
- The Cardano network has obtained a global reputation for its uptime compared to its closest competitor Solana amid the mass adoption of digital assets and web3 projects.
- The time-tested Cardano security features have attracted more web3 developers focused on RWA tokenization in the recent past.
Cardano (ADA) network, a major smart contract-oriented blockchain with more than $329 million in Total Value Locked (TVL), has grown to a mature ecosystem supporting the fast growing global tokenization of Real-World Assets (RWA). The Cardano core developers led by co-founder Charles Hoskinson have continued to improve in the underlying blockchain including with the latest layer two scaling solutions through the Mithril and Hydra projects.
The demand for scalable, affordable, and secure web3 projects has significantly increased with the mass adoption of digital assets by institutional investors around the world.
The competition in the layer one blockchain industry has significantly increased in the recent past amid the existence of vibrant chains like Ethereum, BSC, Solana, and Tron, among others.
ChainCrib Brings Fractional RWA Investments on Cardano Network
ChainCrib, a fast-growing platform that leverages the power of the Cardano blockchain to tokenize global real estate property through the Non-Fungible Tokens (NTFs), has committed to harmonizing the traditional market and digital sphere through the help of ADA.
Notably, the ChainCrib platform is designed to utilize the CIP-68 token standard on the Cardano network in a bid to onboard more investors. Furthermore, the traditional real estate property funding method through banking has significantly failed as observed with China’s Evergrande which was recently forced to liquidate its assets to repay its high debt.
The use of Cardano smart contracts and ChainCrib’s partners to invest in real estate property is expected to be a game-changer in the coming years. Commercial real estate market is projected to reach a whopping $115 trillion in the coming few years. Meanwhile, the ChainCrib platform intends to tap into the CRIB tokens to enable seamless tokenization in the long term.
Just stumbled upon @chaincrib.
They are unlocking a world of opportunities through Fractional Tokenized Ownership of RWA (Real World Assets), all powered by Cardano NFTs.— Cardano Cube (@CardanoCube) January 5, 2024
Impact on ADA Price Action
The Cardano ecosystem is undeniably well-positioned to benefit from the notable integration of web3 projects focused on Real World Assets (RWA) tokenization.
In addition to the improved liquidity in the Cardano ecosystem, the demand for ADA coins will increase gradually in the coming years. As a result, ADA price will explode in a parabolic manner in the confirmed bull rally over the next two years.
From a technical standpoint, ADA price on the weekly time frame is on the cusp of a major uproar after a successful rebound from the 2022/2023 crypto bear market bottom. Notably, the Cardano bulls must defend the support level around 49 cents, which also coincides with the 1.68 Auto Fib Extension, to secure a rebound to the next target range between 81 cents and 91 cents, according to the same indicator.
Otherwise, ADA price risk to drop towards the next major support level of around 39 cents to recap more buyers. Furthermore, ADA price experienced significant resistance around 69 cents and has since dropped 30 percent to trade at (SEE CHART BELOW)
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