Centrifuge [CFG] strengthened its position among the leading tokenized stock platforms. Its Total Value Locked (TVL) still trailed Securitize and Ondo Finance [ONDO].
CFG climbed more than 11% over the past 24 hours despite the SEC delaying tokenized stock trading approvals.
Even so, the token’s daily trading volume dropped 36% to around $25 million, according to CoinMarketCap.
Why is demand rising on Centrifuge?
Data from Centrifuge suggested demand growth continued outpacing capital inflows.
Total Asset Holders rose 1.7% this week to 801,499. At the same time, Total Stablecoin Holders climbed 1.4% to around 256.61 million.
The total number of CFG holders also reached a record 10,150, while Total Unique Addresses stood at 23,008 at press time.
On the other hand, Distributed Asset Value increased only 1% to $34.02 billion. Total Stablecoin Value gained just 0.1% to $305.27 billion.
This gap between holder growth and asset value suggested user demand remained ahead of capital expansion. That trend also hinted that tokenized assets were gradually integrating into platforms that users already transact on.
Why is DEX activity surging?
Apart from holder growth, daily DEX activity also reached new all-time highs.
For example, Uniswap’s [UNI] DEX volume for tokenized S&P 500 [deSPXA] climbed to $1.80 million. That was nearly ten times higher than Aerodrome Finance’s [AERO] $189,000 volume.
In total, Centrifuge’s deSPXA DEX volume surpassed $21.22 million despite the SEC delaying its tokenization decision.
Other tokenized assets, including JTRSY, JAAA, and ACDRX, held larger TVL than deSPXA. As a result, they also generated higher DEX volume.
Can CFG reclaim its ATH this week?
The weekly candle still needed to close near $0.30 to improve the chances of reclaiming CFG’s $0.35 peak. If that happens, Centrifuge could extend its rally next week.
The daily chart showed CFG respecting an ascending trendline support since launch. However, price continued consolidating near recent highs.
At the same time, MACD bars just turned green, suggesting buyer momentum started strengthening.
The Cumulative Volume Delta (CVD) remained red, showing sellers still held some control. Even so, weakening sell pressure hinted that bears could be losing momentum.
If bulls reclaim the $0.30-$0.32 range, CFG could retest $0.35. For now, the bullish structure remains intact unless the ascending trendline breaks.
Final Summary
- Centrifuge rallies by more than 11% as demand surpasses capital inflow from assets and stablecoins.
- CFG aims to reclaim its peak value of $0.35 unless the price breaks below the ascending trendline.