AllianceBlock’s NXRA token is surging, potentially driven by its move to Arbitrum and increasing demand for RWA tokenization.
AllianceBlock’s NXRA token has seen a remarkable surge in value over the past few weeks. The token is up by over 34% in a week and 71% in a month.
This significant uptick in NXRA’s price is likely attributed to the token’s recent transition to the Arbitrum network. The layer-2 solution is renowned for its high-speed and low-cost transactions aimed at enhancing the Ethereum (ETH) network.
This strategic move by AllianceBlock has been well-received by investors, reflecting positively on the NXRA token’s market performance.
The rising demand for tokenization technology, particularly in Real World Assets (RWA) tokenization, has also likely played a significant role in the NXRA’s growth. Tokenization, the process of converting rights to an asset into a digital token on a blockchain, is becoming increasingly popular, especially in the financial sector.
Major global entities like JPMorgan and Swift Network are exploring and implementing tokenized transactions, highlighting the growing relevance of this technology in mainstream finance. The tokenization market is poised to exceed $10 trillion by 2030, and the value of on-chain RWA has increased by 102% in 2023 so far.
AllianceBlock is at the forefront of this technology, offering a comprehensive platform for RWA tokenization and providing necessary infrastructure, liquidity, and compliance features. This positioning of AllianceBlock as a leader in the field likely contributed to the bullish sentiment around the NXRA token.