RWA tokens lead the crypto market in July 2026

The tokenisation of traditional assets continues to be one of the strongest narratives in the crypto market. In July 2026, RWA tokens are putting in the best performance of all major crypto narratives, with a median return of no less than +10.7%.

RWA and DeFi as Major Winners

According to data from CryptoRank, the total on-chain market capitalisation of RWA reached $32.2 billion on 24 July. That is a rise of 12.3% compared with the start of the month, meaning the segment also surpasses its previous all-time high from April. With 9 gainers against 5 losers, the category also shows broad support.

In second place are Layer 2 tokens with a median return of +7.6%, followed by DeFi at +6.3%. DeFi, with 45 gainers and 26 losers, has by far the most active tokens in the ranking. AI tokens also show a positive picture at +3.3%, while Layer 1 blockchains at +1.6% close out the list of winners.

DePIN and GameFi Lag Behind

Not all segments are performing well this month. Memecoins are at -3.1%, with only 10 gainers against 28 losers, indicating that broader interest in speculative tokens is declining. GameFi fares slightly worse at -3.5%, with more losers than gainers.

The weakest segment in July is DePIN, which shows a median decline of -6.6%. With only 3 gainers and 8 losers, the pressure on this segment is clearly visible. The contrast with RWA is stark: while regulated and institutionally attractive assets are gaining ground, more speculative and infrastructure-focused tokens are under pressure. The data in the chart is based on assets with a 24-hour trading volume above $1 million and a market capitalisation of more than $30 million.