Solana attracts $348 million in RWA inflows, but Ethereum still ranks first

Solana performs strongly in tokenized real-world assets

In the past thirty days, the Solana Network has attracted up to US$348 million in net inflows dedicated to tokenized real-world assets (RWAs). According to data provided by the RWA Foundation, during this period, Solana performed better than other blockchain networks. This growth has pushed the total value of RWAs issued on Solana to US$4.23 billion. However, this achievement is not enough to shake Ethereum's leading position in the entire market.

Quick overview of core points

• Recent flow dominance: Solana has dominated recent RWA capital flows, capturing US$348 million in 30 days.
• Asset values soar: Driven by an increase in the number of holders and increased transfers, the total value of RWAs on Solana has reached US$4.23 billion.
• Main drivers: U.S. Treasury bonds and tokenized stocks are the main drivers of this growth.
• Market landscape: Despite Solana's progress, Ethereum still maintains a clear lead in the total value of RWA and has not been replaced.

Solana accelerates growth in all RWA-related indicators

The US$348 million mentioned above corresponds to a month of capital inflows. It should be noted that this figure does not represent trading volume on Solana or the total value of tokenized assets, but rather measures the difference between capital entering the ecosystem and capital exiting during the observation period.

The RWA Foundation pointed out: "Solana leads the race. In the past thirty days, the network has ranked first in net RWA inflows, with a total of US$348 million flowing to the blockchain."

Several indicators help measure the scale of this development:

• Net traffic recorded in 30 days was US$348 million;
• RWA's issuance value reached US$4.23 billion, a month-on-month increase of 11.79%;
• The number of wallet holders reached 398,644, an increase of 17.63%;
• The total amount of transfers within 30 days reached US$3.72 billion, an increase of 8.38%.

Statistics updated as of September 5 show that this growth depends more than just on revaluation of asset valuations. In fact, the increase in the number of transactions and wallets also suggests that the range of use of products available on the chain is expanding. However, a wallet does not necessarily represent an independent investor. The same person or institution may control multiple addresses. Therefore, this indicator is mainly used to measure the distribution of tokens on the chain, rather than accurately calculate the number of real users.

U.S. Treasury bonds and tokenized stocks support growth

RWAs refer to financial assets or physical assets represented on the blockchain in the form of tokens. On the Solana Network, this category mainly includes U.S. Treasury bonds, money market funds, private credit and tokenized stocks.

According to Solana Compass data, as of August 23, the total value of U.S. public securities on the chain was close to $1.2 billion, and their value increased by 16.1% in a month. Products such as Ondo's USDY products or BlackRock's BUIDL funds have also contributed to this expansion.

Tokenized stocks are another important growth driver. Products such as xStocks make it possible to trade digital derivatives in U.S. stocks and ETFs on Solana. These assets can also be traded on platforms such as Raydium, Jupiter and Kamino Finance.

Solana's decentralized exchange (DEX) platform processed $5.8 billion in tokenized stock transactions in the second quarter of 2026. According to reports, through decentralized exchanges, the blockchain accounts for 95% to 97% of the transaction volume in this global market segment.

This trend is equally obvious from a longer time dimension. In January, the value of RWA available on Solana was approximately $1.4 billion. By early September, that figure had risen to $4.23 billion, almost tripling in eight months.

Solana dominates recent traffic but has not yet dominated the overall market

This $348 million inflow accounts for approximately 8% of Solana's current total RWA value. Although valuation fluctuations and new issues may also increase the total, such a high proportion demonstrates the importance of recent inflows.

Currently, Solana has not yet become the leading network in this field. As of the end of August, Ethereum held RWA worth nearly US$17.2 billion, more than four times that of Solana. The previously announced "lead" only refers to the flow of funds in the past 30 days.

This distinction is crucial. A blockchain can capture more capital in the short term without necessarily having the highest asset stock. The sustainability of future trends will depend on the ability to maintain capital inflows, expand the number of holders, and effectively use assets for transactions, credit or payments.

Ultimately, the key to the next stage is to verify whether Solana can continue to maintain this lead for several months. If the size of assets under management (AUM) and transfer volume can grow simultaneously, the prospects for sustainable adoption will be further enhanced.