Top 10 Chains by RWA Active Market Cap

Roughly $36.6B in active RWA sits across the top ten chains, and for the first time the other nine combined hold more than Ethereum:

• Ethereum – $16.6B
• BNB Chain – $5.78B
• Solana – $4.49B
• Stellar – $3.36B
• Avalanche – $1.74B
• Liquid – $1.61B
• Arbitrum – $1.05B
• ZKsync – $971M
• Polygon – $509M
• XRP – $456M

Ethereum still leads by a wide margin, but its share has slipped to ~45%, down from ~48% last week, as it dropped from $17.3B to $16.6B. The issuers aren't leaving; the growth is simply landing elsewhere.

BNB Chain is the clearest winner, with bStocks tokenized equities pushing it well ahead of Solana. Stellar at #4 and Liquid at #6 are the quieter story.

Neither has much of a DeFi scene, yet both carry billions in fund and securities issuance. For RWA, being where the issuer is counts for more than DeFi activity.

🔗 RWA.xyz

Top 7 Perks | Variational Points +12% | Nado Private Invite | Kolo Free Card Issuance | $20 in KAST Points