Real-world asset (RWA) tokenization on the Ethereum network and the XRP ledger has been on the rise in recent years. This has become more prominent with a shift towards introducing more real-world assets (RWA) into the crypto industry, to enable access to more ‘stable’ investment options. But despite the Ethereum Network and the XRP Ledger being the top names that come to mind when people talk about RWA, they are surprisingly not the network with the most RWA users.
Ethereum and XRP are not among the top users
The Ethereum network currently remains the leader when it comes to the total value of RWA assets on-chain, which stands at over $15.4 billion at the time of this writing. However, it is not the leading network when it comes to the number of RWA holders. Data from the RWA.xyz website shows that RWA holders on the Ethereum network amount to just over 153,000, putting it in third place.
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The Solana Network recently surpassed Ethereum in terms of RWA asset holders, after crossing the 157,000 threshold this week. But despite this, it is still not the leader who comes in second place with this figure. Instead, the network with the highest RWA holders is the Plume network, which surprisingly rarely comes up in RWA conversations.
According to the website, there are more than 263,000 RWA holders on the Plume network. This is a significant gap between the other networks, each beating the second and third places with over 100,000 users each. However, when it comes to the total value (excluding stablecoins) on the network, Plume lags far behind, landing in 11th place, with $340 million.
XRP, on the other hand, has a surprisingly low number of RWA users, despite Ripple’s tokenization push. The website’s data presents a disappointing 3,795 RWA users on the XRP Ledger, albeit with a significant total RWA value of $1.94 billion.
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Other chains with good movement in the RWA room include BNB Chain. BNB Chain currently has over 39,500 RWA users, with a total value of $2.656 billion. Stellar and Polygon also rise on the list with 9,317 and 15,470 users respectively.
Currently, the RWA sector has a total represented value of $336.08 billion, the majority of which, $301.04 billion, is held in stablecoins. When it comes to assets represented on the blockchains (33) serving this sector, this amounts to $26.43 billion in distributed asset value, the the majority of which is managed on the Ethereum blockchain.
Featured image of Dall.E, chart from TradingView.com