Real-world assets are steadily expanding up the chain as the industry crosses another key market level. New RWA data showed the market rising above $34 billion as shareholder growth continued across several blockchain networks.
At the same time, RWA.xyz’s latest dashboard showed rising participation, even as some asset value metrics cooled over the past month. The trend points to a broader distribution of tokenized assets across users, chains and market categories.
RWA market exceeds $34 billion
Frigg said the on-chain RWA market has surpassed $34 billion, citing data from Ondo Finance and RWA.xyz. The update framed real-world tokenized assets as a sector that is quietly growing, while broader crypto attention remains focused on more volatile stories.
RWA.xyz’s global market overview showed a distributed asset value of $31.26 billion. The asset value represented was much higher at $361.90 billion, demonstrating the broader asset base associated with tokenization activity.
However, both value metrics have declined over the past thirty days. The value of assets distributed decreased by 0.75%, while the value of assets represented decreased by 7.71%. This shows that the market size cooled somewhat due to value, even as user participation continued to grow.
The total number of asset owners reached 849,273, an increase of 12.78% over the same period. That contrast is important. It shows that more and more wallets are entering the RWA market, even as some value-based metrics declined.
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Holder growth spreads across chains
Winny highlighted that RWA holder growth remains strong, up 46% in five months. RWA Foundation data shows that the number of holders increased from 577,000 to approximately 845,000 during that period.
Growth is not concentrated on one network. The holder chart shows that Plume leads the way with 251,997 holders, or 29.8% of the total. Solana followed with 238,123 holders, giving it a 28.2% share.
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Ethereum had 193,165 RWA holders, or 22.9%. BNB Chain followed with 82,232 holders, which amounts to 9.7%. Polygon, Base, Stellar and other networks accounted for the remaining share.
This spread shows that tokenized asset users move across multiple ecosystems. Meanwhile, it also suggests that RWA adoption is not solely dependent on Ethereum or a single application environment.
Related: How AI agents will become the co-pilots of crypto traders in 2026
Stablecoin base remains large
RWA.xyz also showed a total stablecoin value of $299.59 billion, down 1.44% over 30 days. The total number of stablecoin holders reached 262.01 million, up 5.76% over the same period.
Stablecoins remain separate from the distributed RWA diagram unless incorporated, but are still an important part of the tokenization market structure. They provide settlement, liquidity and dollar-based rails for on-chain financial activities.
Source: rwa.xyz
The RWA value chart showed steady growth from 2023 through 2026, with faster expansion from late 2025 through 2026. U.S. Treasuries remained the largest visible category, while commodities, private credit, equities and other tokenized assets made up smaller tiers.
Still, the latest data shows a market where asset values have paused somewhat, but user adoption continues to rise. That mix keeps the focus on whether holdership growth can support the next phase of tokenized RWA expansion.