The protocol’s tokenized RWA value is down this month, driven by a steep drop in the value of its corporate credit fund, JAAA.
Centrifuge’s native token CFG has rallied roughly 60% in the past 24 hours after Binance, the largest centralized exchange buy trading volume, announced it would list the token for spot trading today, March 16. CFG is the real-world asset (RWA) tokenization protocol’s native governance and utility token.
The price of CFG reacted to the news nearly immediately, soaring from around $0.12 to as high as $0.23 at its intraday peak — a 90% rally — before retracing to approximately $0.19 at time of writing, per CoinGecko data. 24-hour trading volume reached over $178.8 million, per CoinGecko, with most of today’s volume, over $118.7 million, occurring on Korean CEX Upbit for the CFG/KRW trading pair.
Meanwhile, the CFG/USDC pair on Binance is trading around $0.19, up almost 100% on the 24-hour timeframe. 24-hour trading volume for CFG on Binance has reached over $13.6 million at publishing time.
Per the listing announcement, Binance applied a so-called Seed Tag to the listing — a designation the exchange uses for higher-risk or less-established tokens that requires users to pass a quiz before trading.
CFG had already seen a listing-driven surge on Feb. 26, when Upbit’s announcement sent the token up over 200% intraday to over $0.24.
Tokenized RWA Value Slips
On the fundamentals side, RWAxyz data shows Centrifuge’s distributed asset value across its tokenized RWAs at $1.23 billion, down over 8% this month. The majority of value across the platform’s four tokenized funds sits on Ethereum, which holds nearly $922 million at publishing time — though that value is down 10.55% in the past 30 days.
Centrifuge’s largest tokenized RWA product, Janus Henderson Anemoy Treasury Fund (JTRSY), holds U.S. Treasuries and has a market cap of $761.3 million.
Meanwhile, RWAxyz shows that the value of Centrifuge’s corporate credit fund, Janus Henderson Anemoy AAA CLO Fund (JAAA) slipped over 42% in the last month, which accounted for the broader net losses across its tokenized products. JAAA currently holds $416,6 million in value on-chain, mostly on Avalanche C-Chain and Ethereum.
The platform’s overall on-chain RWA value crossed the $1 billion milestone for the first time last August on the back of institutional demand for its JAAA fund. The firm launched a $100 million tokenized credit strategy with Resolv on Aave’s RWA platform Horizon in late February.
This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.
