According to @santimentfeed, the September 2025 top Real World Assets (RWA) crypto projects by GitHub development are 1) Chainlink (LINK, no change), 2) Stellar (XLM, up), 3) Avalanche (AVAX, down), 4) Hedera (HBAR, up), 5) Ondo (ONDO, up), 6) VeChain (VET, up), 7) Algorand (ALGO, up), 8) Sky (SKY, up), 9) Maker (MKR, up), and 10) Injective (INJ, down). Source: Santiment X post dated Sep 11, 2025. According to @santimentfeed, the directional arrows denote month-over-month ranking changes derived from Santiment’s tracking of project GitHub repository activity. Source: Santiment X post dated Sep 11, 2025. According to @santimentfeed, the data is based on Santiment’s GitHub activity methodology, which Santiment states is useful for crypto trading, with details provided in its methodology article. Source: Santiment Medium article referenced in the post.

According to @rovercrc, traders are comparing Chainlink (LINK) and Ondo (ONDO) as leading RWA altcoin plays for the next Altseason. Source: Crypto Rover on X, Aug 26, 2025. For LINK, enterprise RWA traction includes the DTCC Smart NAV pilot that delivered mutual fund NAV data on-chain using Chainlink infrastructure, a development that can channel data and settlement flows through the Chainlink ecosystem. Source: DTCC press release, May 16, 2024; Chainlink Labs announcement, May 16, 2024. Chainlink also collaborated with SWIFT in 2023 experiments to enable cross-chain tokenized asset transfers via CCIP, reinforcing LINK’s role as RWA interoperability middleware. Source: SWIFT industry update, Sept 2023; Chainlink Labs report, Sept 2023. For ONDO, Ondo Finance issues tokenized U.S. Treasuries exposures (OUSG) and the USDY tokenized note, tying ONDO directly to on-chain fixed-income demand within the RWA segment. Source: Ondo Finance documentation and blog, 2023–2024. Institutional momentum for RWAs accelerated with BlackRock’s launch of the BUIDL tokenized fund on Ethereum in March 2024, supporting demand for on-chain cash equivalents that can benefit RWA issuers and infrastructure. Source: BlackRock press release, Mar 2024. Exchange access also matters for trading liquidity: ONDO received a Coinbase listing in 2024, broadening U.S. access and market depth. Source: Coinbase blog, 2024. Broader context: Citi estimates tokenized securities could reach $4–5 trillion by 2030, implying a multi-year RWA tailwind that may influence demand for both LINK and ONDO. Source: Citi GPS report, Mar 2023.

According to @rovercrc, traders are weighing RWA exposure between Chainlink (LINK) and Ondo (ONDO), highlighting two distinct routes to tokenized-asset beta, source: @rovercrc on X. LINK represents infrastructure demand: DTCC’s 2024 Smart NAV pilot used Chainlink to deliver mutual fund NAV data onchain, demonstrating institutional RWA workflows, source: DTCC Smart NAV Industry Pilot 2024 and Chainlink Labs recap. SWIFT’s interoperability experiments connected tokenized assets across networks using Chainlink CCIP, signaling potential messaging-to-settlement bridges institutions can adopt, source: SWIFT Digital Assets Interoperability experiments 2023 and Chainlink Labs. Chainlink Staking v0.2 introduced expanded staking and fee-reward mechanisms tied to network usage, creating measurable onchain metrics traders can monitor (stake utilization and rewards), source: Chainlink Staking v0.2 announcement 2023 by Chainlink Labs. ONDO offers direct RWA yield access: OUSG tokenizes short-term U.S. Treasuries via exposure to BlackRock’s iShares Short Treasury Bond ETF (ICSH) through a special purpose vehicle, source: Ondo Finance OUSG documentation and BlackRock ICSH fund page. USDY is a yield-bearing stablecoin backed by short-term Treasuries and cash equivalents with redemption subject to KYC/AML, which affects float and secondary market dynamics, source: Ondo Finance USDY terms and disclosures. The ONDO token governs the Ondo protocol ecosystem, and the asset’s exchange listings, including Coinbase, support liquidity considerations for traders, source: Ondo governance documentation and Coinbase Assets listing. Access to some Ondo RWA products is limited to qualified investors, a regulatory factor that can influence onchain supply and trading flows relative to open-access infrastructure like LINK oracles, source: Ondo OUSG offering documents.