Real-World Assets (RWAs) are digital tokens depicting ownership of tangible or intangible assets. LunarCrush, a platform that utilizes artificial intelligence (AI) to analyze digital assets, including cryptocurrencies, has released its list of Top 15 Real-World Assets (RWAs) Projects based on market capitalization.
TOP #RWA PROJECTS BY MARKET CAPITALIZATION#Chainlink #Stellar #TetherGold #PAXGold #OndoFinance #Quant #VeChain #XDCNetwork #Injective #Maple #Pendle #Centrifuge #Polymesh #Mantra #Goldfinch pic.twitter.com/ORsWdYHuhZ
— PHOENIX – Crypto News & Analytics (@pnxgrp) April 22, 2026
Market capitalization consists of 7D price change and Fully Diluted Valuation (FDV). These three parameters are used to calculate the Market Capitalization of RWA projects. Chainlink ($LINK) dominates the Top 15 RWA Projects by market capitalization.
Chainlink and Stellar Dominate RWA Space with Strong Weekly Gains
Chainlink ($LINK) leads the market with an FDV of $9.5B and a market capitalization of $6.9B, after getting a 7D price change of +4.9%. Subsequently, Stellar ($XLM) is in the chasing position in this race with $9.0B FDV,7D price change of +15.0%, and market capitalization of $5.9B.
There is a huge difference of 10.1% in the 7D price change of these RWA Projects, indicating that both are still in demand in the crypto market. Phoenix has released this news through its official social media X account.
$XAUT and $PAXG Anchor the RWA Sector
Tether Gold ($XAUT) and PAX Gold ($PAXG) got third and fourth position with $3.3B and $2.3B FDV, respectively. These RWA Projects also show a massive difference in terms of FDV, about $1.0B. While moving to price change, they have a negative difference of -0.2%. So, ($XAUT) stands with -1.0%, and ($PAXG) at -1.2% in 7D price change, respectively.
Furthermore, two more RWA projects achieved FDV in billions. In this, the first one is Ondi Finance ($ONDO), got $2.7B FDV and +7.6% 7D price change. It has a market capitalization of $1.3B. Ondo Finance ($ONDO) wins with the difference of only 393M to its nearest RWA project, Quant ($QNT), in market capitalization. Further, the next one is Quant ($QNT), situated with $907 in market capitalization, $1.1B in FDV, and +0.7% 7D price change surviving in the market.
Injective and Maple Gain Momentum in RWA Rankings
VeChain ($VET) and $XDC Network ($XDC) seemed very close to each other in terms of market capitalization, with $629M and $619M, respectively. So, the difference between these RWA projects is 10M. But, they also highlight a minor difference in terms of 7D price change, which is about +2.7%, and in this way, ($VET) is placed with $634.3M and ($XDC) with $1.1B in FDV. Both RWA projects have a 7D change of +5.4% and +2.7% accordingly.
Additionally, two RWA projects are positioned at the 9th and 10th Injective ($INJ) and Maple ($MPL), with $336M and $276M in market capitalization, respectively. In this race, both RWA Projects got $335.8M and $288.8M in FDV, and +11.3% and +7.9% in weekly price change, respectively. Pendle ($PENDLE) comes at 11th position with $228M in market capitalization, with a positive change in price over 7D of +30.5%. It has $385.3M in FDV.
Goldfinch Jumps with Double-Digit Growth in RWA Space
Centrifuge ($CFG) and Polymesh ($POLYX) stand at 12th and 13th positions with a price change of +23.3% and +2.2%, over 7 days. Centrifuge ($CFG) and Polymesh ($POLYX) have market capitalizations of $145M and $54.3M, respectively. Centrifuge ($CFG) has an FDV of $170.6M, and Polymesh ($POLYX) also has $66.2M.
Mantra ($OM) appears at the 14th position with a negative price change of -0.6% over the last week, with $51.0M in market capitalization. It also has an FDV of $104.4M. Last but not least, Goldfinch ($GFI) gains +15.0% in price over 7D and has a market capitalization of $11.6M along with $15.2M in FDV.
