Foreign media reports indicate that Centrifuge has continued its recent decline, with its price falling 14% in a single day and accumulating a drop of over 30% in the past 30 days. Alongside the weakening of individual tokens, overall trading activity among RWA issuers has also cooled significantly, with the sector's trading activity rapidly declining from previous highs.
Trading activity in the RWA sector has cooled significantly.
The report cited data showing that Centrifuge's token trading volume has decreased by 7.5% over the past 30 days, to approximately $685 million. Daily CFG trading volume was only $15 million, a significant drop from the May peak of $64 million.
Trading volume for the broader RWA issuer tokens is also declining. The figure fell from $1.406 billion to a low of $198 million this month, although it subsequently rebounded slightly to about $424 million, but is still well below the previous peak of about $6 billion.
The article argues that this change reflects a weakening of overall trading interest in the RWA sector, rather than just pressure on individual projects.
Centrifuge on-chain metrics generally declined.
Besides price, Centrifuge also saw double-digit declines in several other metrics. Its market capitalization fell 15% to approximately $1.3 billion, although the number of shareholders continued to increase.
The number of daily active sending addresses dropped to 4, a 42% decrease from the previous period. However, on a monthly basis, this figure is still higher than at the beginning of the month. Meanwhile, asset transfers deployed on Centrifuge have declined by 43% over the past 30 days to approximately $1.2 billion, with JTRSY experiencing a more significant drop, with related transfers amounting to approximately $870 million.
Foreign media are paying attention to the performance below $0.20.
The article also mentions that CFG's price weakness was further confirmed after it broke below the upward trend support. Since entering the bearish zone on May 22, short-term rebounds have failed to change the situation dominated by selling pressure.
The Relative Strength Index (RSI) once fell to 23.45, entering oversold territory, and showed initial signs of recovery. However, foreign media believe that if prices continue to weaken after falling below $0.20, the market may continue to test lower demand zones.
The report mentions that the $0.12 to $0.14 range is considered a significant demand area, as this level was the starting point for CFG's previous rally, pushing prices above $0.35 at one point. Only if prices regain and stabilize above $0.20 could the current decline temporarily slow.
