As SOL's price retreats to its lowest level since 2023, Solana's share of on-chain trading in tokenized equities and real-world assets (RWA) continues to grow. Unlike the broader market's weakness, activity on this chain for settlement and trading of tokenized assets remains on the rise.
Tokenized stock trading volume increases
Data shows that since early June, the trading volume of tokenized stocks has increased from $40.64 million to $116.72 million, a rise of approximately 187%, and has surpassed $100 million for the first time.
This growth has been primarily concentrated on Solana. The article states that the market is increasingly viewing Solana as the primary on-chain settlement network for such transactions. xStocks is currently a leading player among related issuance platforms, with a market share of nearly 26%.
- Tokenized SpaceX (SPCX) accounts for approximately 98% of trading volume.
- Tokenized Circle (CRCL) accounts for approximately 99% of trading volume.
- The tokenized QQQ ETF accounts for 100% of trading volume.
RWA scale reaches $3 billion
Beyond tokenized stocks, Solana continues to rise in the broader RWA market. According to data from rwa.xyz, Solana currently ranks third among public blockchains with $3 billion in total RWA value, a record high, and is approximately $900 million behind BNB Chain, which holds second place.
Over the past 30 days, approximately $390 million in new RWA value has been added on Solana, accounting for about 13% of the current total. During the same period, trading volume reached approximately $5.51 billion, representing about 66.94% of market activity.
Holders expand in sync with the product.
During the same period, the number of RWA holders on Solana rose to approximately 284,500, a 28.98% increase over 30 days. The growth in wallet numbers has become a key driver in expanding Solana’s market share in the tokenized assets space.
By asset class, stablecoins remain the largest tokenized asset on Solana, currently totaling approximately $15 billion. This category is calculated separately from the total RWA value on rwa.xyz.
Products driving growth include BlackRock’s USD Institutional Digital Liquidity Fund, Securitize’s AA CLO tokenized fund, and projects such as the Titan III Equity Token, Hera I Equity Token, and Prime.
Overall, SOL's price performance has been weak, but Solana's on-chain share in tokenized stocks and RWA trading continues to grow. This indicates that its activity in the tokenized assets sector has not cooled down in tandem with the price decline.