Ethereum Stays on Top of RWA Market as Solana Strengthens Its Position

Ethereum continues to hold a commanding position in the tokenized real-world asset (RWA) market, while Solana is emerging as the only other ecosystem to build significant spot trading activity, according to a new joint report by CoinShares and Token Terminal.

Other major networks, including Arbitrum, BNB Chain, and Base, have yet to develop meaningful RWA spot trading despite being operational for years.

Established Chains Lead The report attributed the gap to the concentration of liquidity and trading infrastructure on established networks, where asset issuers and market makers already benefit from active markets.

As a result, newer blockchains are also competing to attract established DeFi applications. There has been a sharp divergence between crypto-native trading activity and tokenized real-world assets over the past year.