Solana has emerged as the leading blockchain for real-world asset (RWA) flows, securing $348 million in net inflows over the past 30 days, according to data shared by the RWA Foundation. The RWA Foundation, an organization focused on advancing tokenized assets across blockchains, published the figures on its official X account.
Solana’s RWA market growth
In recent weeks, Solana has maintained its position at the top of major RWA network rankings, surpassing Ethereum, Stellar, XRP Ledger, and Avalanche. The rwa.xyz dashboard shows that Solana’s net RWA flow grew by 11.13% in the last month, bringing its total RWA market value to $4.23 billion. The number of RWA holders on Solana also increased, rising by 17.63% to a total of 398,644.
For comparison, Ethereum posted a modest 0.77% increase in 30-day RWA flows, while Stellar rose by 5.22%. In contrast, other networks experienced declines: XRP Ledger dropped by 5.51%, and Avalanche fell by 14.06% during the same period.
| Network | 30-Day Flow Change | Total RWA Value |
|---|---|---|
| Solana | +11.13% | $4.23 billion |
| Ethereum | +0.77% | — |
| Stellar | +5.22% | — |
| XRP Ledger | −5.51% | — |
| Avalanche | −14.06% | — |
Solana is leading the pack. It topped net flows for RWAs over the past 30 days, pulling in $348 million to the chain.
Expanding RWA product ecosystem
RWAs—blockchain-based representations of traditional assets—have become one of the fastest-growing sectors in crypto over the past year. Solana has benefited from strong adoption of tokenized Treasury products, including Circle’s USYC money market fund, BlackRock’s BUIDL fund, VanEck’s VBILL, and Franklin Templeton’s BENJI. These products enable onchain investors to subscribe, hold, and manage financial assets directly from digital wallets or third-party custodians.
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AAPLOndo Finance, one of the leading crypto asset managers, has introduced two major RWA products on the network: USDY, a tokenized note backed by short-term U.S. Treasuries and bank demand deposits, and OUSG, which provides exposure to short-term U.S. government bonds and is largely supported by BlackRock’s BUIDL fund.
Mini dictionary: RWAs (Real-World Assets), physical or traditional financial assets like government bonds or funds represented on a blockchain through tokenization, enabling easy transfer and management by investors using digital wallets.
One of the defining industry trends over the past year has been the growth of RWAs, with Solana sustaining its momentum through additional product launches and growing investor participation.
Upcoming upgrades and governance milestones
Solana is preparing for a major core upgrade, codenamed Alpenglow, which proposes a new consensus protocol designed to deliver near-instant finality and improved responsiveness. This upgrade would replace Solana’s current technology stack, phasing out the well-known Proof of History mechanism and its Tower BFT consensus system.
Proof of History, which has allowed Solana to achieve fast and consistent timestamps through a “pre-recorded clock” approach, is expected to be succeeded by a new algorithm under the Alpenglow proposal.
In late August, Solana completed its first network-wide governance vote. The proposal aimed to accelerate the reduction in new SOL issuance and narrowly passed the required two-thirds majority just before the deadline.
Solana, developed by Solana Labs, is a public blockchain launched in 2020. It is known for high throughput and low transaction costs, and has become a major platform for decentralized finance and tokenized assets.
