Centrifuge down 14% as RWA sector bleeds out: when do bulls return?

The broader crypto market is bleeding, and the once-trending tokenization narrative is catching the same cold. Centrifuge [CFG], a sector heavyweight, shed 14% of its market cap in a single day. Over the past 30 days, CFG's total token trading volume has slipped 7.5% to roughly $685 million.

On the day in question, just $15 million worth of CFG changed hands — more than four times less than its May peak volume of $64 million. The pain isn't isolated: token trading volume across all RWA issuers collapsed from $1.406 billion to this month's low of $198 million. The sector's peak token volume once sat near $6 billion; it has since clawed its way back to around $424 million. A modest recovery, though the chart still looks like a ski slope.

Taken together, the numbers point to broad-based weakness across the RWA sector. Back to Centrifuge: most of its metrics are down by double digits. The asset market cap, for one, has fallen 15% to roughly $1.30 billion — even as the count of holders continues to climb. Apparently, the faithful are still accumulating, though price seems uninterested in the gesture.

Daily asset senders on Centrifuge have dropped 42% to just 4. To be fair, they're still up 38% for the month. Still, the figures aren't exactly inspiring, considering Centrifuge's standing among RWA issuers. Four daily senders is a smaller crowd than most token-gated Discords.

Transfer volume of assets deployed on Centrifuge also took a 43% hit over the last 30 days, landing at $1.20 billion, with JTRSY leading the slide to around $870 million.

On the charts, Centrifuge lost its slanting support level and confirmed the trendline break with a retest. Since then, CFG has dipped more than 32% and shows no obvious signs of slowing down.

CFG flipped the Supertrend indicator to bearish on May 22, and bears have dominated the action ever since — even the modest upside pumps haven't lasted. The price sits well below the indicator, a clear sign that sellers remain in control.

As the altcoin continues to slice through key demand levels, the RSI is sliding right alongside it. At press time, the RSI was oversold at 23.45, though it was beginning to curl higher — the classic "is this a reversal or a trapdoor" setup. A confirmed retest of the breakdown after losing the $0.20 level would signal further downside, leaving the $0.12–$0.14 zone as the last viable demand area where bulls might stage a comeback.

That zone originally launched the rally that took CFG to its $0.35 peak. If market participants simply ignore the last demand area, a retest of the launch price at $0.0997 becomes a real possibility. For now, any sustained move back above $0.20 might at least pause the bleeding.