Real-world assets are steadily expanding on-chain as the sector passes through new major market levels. According to the latest data from RWA, holder growth continues across several blockchain networks while the market hovers above $34 billion.
At the same time, RWA.xyz’s latest dashboard showed an increase in participation despite weakness in some asset value indicators over the past month. This trend shows that tokenized assets are widely distributed across users, chains, and market categories.
RWA market exceeds $34 billion
The on-chain RWA market has exceeded $34 billion, Frigg said, citing data from Ondo Finance and RWA.xyz. The update frames tokenized real-world assets as a quietly growing sector while broader attention to cryptocurrencies remains focused on a more volatile narrative.
According to RWA.xyz’s global market overview, the diversified asset value was $31.26 billion. The representative asset value is much higher at $361.9 billion, indicating a broader asset base associated with tokenization activity.
However, both value metrics have declined over the past 30 days. The value of circulating assets decreased by 0.75%, and the value of representative assets decreased by 7.71%. This indicates that the market size has cooled slightly in value terms, even though user participation continues to increase.
Total asset holders reached 849,273 people, an increase of 12.78% over the same period. That contrast is important. This indicates that more wallets are entering the RWA market despite a decline in some value-based metrics.
Related: Tokenized RWA market cap hits $33.7 billion as government bond demand accelerates
Holder growth spreads throughout the chain
Winny highlighted that RWA holder growth remains strong, increasing by 46% in five months. According to the referenced RWA Foundation data, holders increased from 577,000 to approximately 845,000 during that period.
Growth is not concentrated in one network. According to the holder chart, Plume leads with 251,997 holders, or 29.8% of the total. Solana followed with 238,123 holders and a 28.2% share.
Source: X
Ethereum had 193,165 RWA holders, or 22.9%. The BNB chain followed with 82,232 holders, accounting for 9.7%. Polygon, Base, Stellar, and other networks accounted for the remaining share.
This spread indicates that tokenized asset users are moving between multiple ecosystems. At the same time, it also suggests that RWA adoption is not solely dependent on Ethereum or a single application environment.
Related: How AI agents will become co-pilots for crypto traders in 2026
Stablecoin base remains large
RWA.xyz also showed that the total value of stablecoins was $299.59 billion, down 1.44% in 30 days. The total number of stablecoin holders reached 262.01 million, an increase of 5.76% during the same period.
Stablecoins remain separate from the decentralized RWA chart unless included, but they still form an important part of the tokenization market structure. These provide payment, liquidity, and dollar-based rails for on-chain financial activities.
sauce: rwa.xyz
The RWA value chart showed steady growth from 2023 to 2026 and expanded rapidly from late 2025 to 2026. U.S. Treasury debt remained the largest visible category, with commodities, private credit, equities, and other tokenized assets forming smaller layers.
Still, the latest data shows that user adoption continues to increase, although market asset values have stagnated somewhat. This combination has drawn attention to whether increased holders can support the next phase of tokenized RWA expansion.
