Solana's RWA market cap surged to $4.3B in one year, capturing 26% of total RWA market share versus Ethereum's dominance, while Solana leads application revenue at $193.1M monthly.
RWA & Tokenization ·
On-chain real-world asset (RWA) holdings on Solana expanded significantly over a twelve-month period, climbing from roughly $700 million to $4.3 billion according to a Castle Labs analysis. During the same window, Ethereum's RWA base inched upward from $15.5 billion to $16.6 billion, marking a more modest trajectory. Solana's proportional share of the combined RWA market against Ethereum surged from approximately 4.5% to 26%.
Beyond market size, Solana demonstrated strength in application economics. Monthly protocol revenue reached $193.1 million in the most recent thirty-day measurement, positioning it ahead of competing networks in the tracked set—Hyperliquid generated $86.5 million and Ethereum produced $53.8 million over the same span.
The data points to growing RWA activity on Solana, though the underlying drivers and sustainability of this shift remain unspecified in the report.