As the price of SOL fell to its lowest level since 2023, Solana's share of on-chain tokenized stocks and real-world assets (RWA) trading continued to expand. In contrast to the overall market weakness, activity on this chain for tokenized asset settlement and trading continued to rise.
Tokenized stock trading volume increased
Data shows that since the beginning of June, the trading volume of tokenized stocks has increased from $40.64 million to $116.72 million, an increase of approximately 187%, and has exceeded $100 million for the first time.
This growth is primarily driven by Solana. The article states that the market is increasingly using Solana as the primary on-chain settlement network for these types of transactions. xStocks is currently a major player among related issuance platforms, with a market share approaching 26%.
- Tokenized SpaceX (SPCX) transactions account for approximately 98% of total trading volume.
- Tokenized Circle (CRCL) transactions account for approximately 99% of the total.
- The tokenized QQQ ETF accounts for 100% of the trading volume.
RWA's size has grown to $3 billion.
Beyond tokenized shares, Solana continues to rise in the broader RWA market. According to rwa.xyz data, Solana currently ranks third among public blockchains with a total RWA value of $3 billion, a record high, approximately $90 million behind BNB Chain, which ranks second.
Over the past 30 days, Solana saw approximately $390 million in new RWA value, representing about 13% of the current total. During the same period, trading volume was approximately $5.51 billion, accounting for about 66.94% of market activity.
Holders and products expand in tandem
During the same period, the number of RWA holders on Solana rose to approximately 284,500, representing a 30-day increase of about 28.98%. The growth in the number of wallets has become an important support for this chain to expand its market share in the tokenized asset market.
By asset class, stablecoins remain the largest tokenized asset on Solana, currently valued at approximately $15 billion. This portion is calculated separately from the total RWA value in rwa.xyz's statistics.
Products driving growth include BlackRock's USD Institutional Digital Liquidity Fund, Securitize's AA CLO tokenization fund, and projects such as 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 transactions continues to expand. This means that its activity in the tokenized asset sector has not cooled down in tandem with the price decline.
