Solana (SOL) important signals: on-chain RWA total value exceeds 418 million USD, revenue closely following Ethereum (ETH)

Solana (SOL) follows the correction of the crypto assets market, currently reported at 160.14 USD during the Asian afternoon session today (15th). According to the latest report from Messari, the total value of real-world assets (RWA) on Solana has exceeded 418 million USD, rising by 140.6% since the beginning of 2025, narrowing the gap with leading competitors in the field.

Solana's growth in the RWA sector is more than double the overall growth of the tokenization market for physical assets, which grew by 62.4% during the same period. Solana has now become the platform for many RWA tokenization projects, including stocks, US Treasury bonds, and institutional investment funds.

Messari analyst Matthew Nay stated in a report: "Solana has attracted numerous projects due to its high-speed transaction processing, near-zero costs, and strong developer ecosystem."

According to data from the analysis platform RWA XYZ, Solana accounts for 3.9% of the global RWA tokenization market share. In terms of blockchain rankings, Solana is ranked fourth, following Ethereum (58.4%), ZKsync Era (17.2%), and Aptos (4%).

(Source: Messari)

The two largest non-stablecoin RWA protocols on Solana are Ondo (which has a dollar revenue fund) and ONe (which has an institutional fund). These two projects together hold tokenized real-world assets worth $277 million on the Solana network.

According to data, Ondo's fund recorded a cross-chain trading volume of 2.7 million USD in the past 24 hours. A portion of the profits from these transactions was allocated to managed blockchains like Solana.

According to data from Token Terminal, Solana generated $3.9 million in revenue over the past 30 days. Meanwhile, the leading RWA platform Ethereum had a revenue of $15.9 million during the same period.

RWA market capitalization exceeds 25 billion USD

RWA——one of the most prominent applications of blockchain——surpassed a market capitalization of 25 billion dollars on Wednesday. The market cap has risen by 6.3% in the past 30 days and by 62.4% in the past six months.

RWA tokenization technology has attracted the interest of traditional financial institutions due to its ability to shorten processing times, accelerate payment speeds, and achieve global coverage.

Blockchain is fiercely competing for market share. The Layer 1 (L1) blockchain Aptos, developed by former Meta engineers, has seen its RWA value increase by 52.7% in the past 30 days.

Solana also rose by 14.6%, while Ethereum only rose by 3.6%.