How Solana Became the Third-Largest Chain for Tokenized Assets
Solana kicked off 2026 with a surprise that caught most crypto watchers off guard. The network’s
real-world asset market—things like tokenized Treasury bills, stocks, and corporate bonds—hit
roughly $873 million in value. That’s a 325 percent jump from where things stood at the start
of 2025, and it’s enough to push Solana into third place globally among blockchains hosting
these types of assets.
Across all public blockchains, non-stablecoin real-world assets total around $19 billion.
Solana’s slice is about 4.6 percent—not huge in dollar terms, but remarkable considering where
the network was just twelve months ago. The growth comes from a wider mix of assets moving
on-chain: U.S. government debt, blue-chip equities, foreign sovereign bonds, and various
institutional yield products that traditional finance firms are experimenting with.
Market makers and corporate treasurers like Solana’s speed—transactions settle in under a second.
They’re pairing these tokenized securities with stablecoin pools, essentially turning the network
into something that looks and feels more like traditional financial plumbing. The gap between
old-school banking infrastructure and decentralized settlement is closing faster than many
Wall Street strategists anticipated.
Stablecoins Still Dominate, But Real Assets Are Catching Up
Stablecoins remain king on Solana. They account for roughly 91 percent of all tokenized value
on the network. USD Coin alone sits near $9 billion, with Tether and Paxos adding billions more.
But something interesting happened last quarter: the number of wallets holding non-stablecoin
real-world assets jumped 18 percent, crossing 126,000. That signals fresh adoption beyond simple
dollar substitutes—both retail traders and institutional desks are branching out.
Two things drove traders toward tokenized Treasuries and similar instruments. First, Solana’s
transaction costs undercut competing chains. Second, even after interest rates plateaued in 2025,
on-chain yields on these assets beat most decentralized money-market alternatives. Asset managers
are now testing tokenized equity index baskets and wrapped credit ETFs. If those pilots gain
traction, analysts expect stablecoins to drop below 80 percent of total tokenized value by the
end of the year, making room for bonds, funds, and more complex structured products.
What the Price Chart Is Saying
SOL’s price action backs up the fundamental story. Since mid-December, the token has been carving
out higher lows along a gradual uptrend. It’s holding support around $129—a level that used to
act as resistance during earlier double-top formations. Momentum indicators look neutral to
slightly bullish. The Relative Strength Index sits in the mid-60s, and the 50-period moving
average recently crossed above the 100-period line on shorter timeframes.
Volatility has squeezed into a symmetrical wedge pattern. The upper edge hovers near $140—a
psychologically important threshold. A clean break above that opens the door to $145 and $150,
matching Fibonacci extension targets tied to last year’s correction. On the downside, losing
$126 would likely trigger more sideways consolidation, but the broader uptrend stays intact
as long as $118 holds on weekly charts.
Either way, the growing liquidity in real-world asset trading pairs should dampen wild swings.
That creates a feedback loop: more tokenization activity stabilizes price, which attracts more
institutional capital, which drives further tokenization. It’s a cycle that’s already playing
out—and it’s happening faster than most people expected.
