Solana Overtakes Ethereum In Trillion-Dollar Sector, Is There A New King In Town? | Bitcoinist.com

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Solana has overtaken Ethereum in terms of total real-world asset (RWA) holders, providing a positive sign for the network. However, Ethereum remains ahead in total tokenized value on these networks

Solana Ranks Ahead Of Ethereum In RWA Holders

In an X post, Solana pointed to data from RWA.xyz showing that the network had, for the first time, surpassed Ethereum in total RWA holders. SOL currently has 157,112 RWA holders while Ethereum has 153,592 holders. However, it is worth noting that the Plume network has the most RWA holders (263,132) among all networks despite boasting a lower total RWA value than Ethereum and Solana

Related Reading: Solana’s 755% Surge Shows That Users Are Coming Back To The TableHowever, the Plume network has seen an almost 3% drop in its RWA holders over the last 30 days, while Ethereum and SOL have seen an increase of 8% and 7%, respectively. Despite SOL surpassing Ethereum in total RWA holders, Ethereum still leads in terms of total RWA value with $15.4 billion on the network, excluding stablecoins

Source: Chart from RWA.xyzMeanwhile, the Solana network has a total RWA value of $1.8 billion, also behind networks such as the BNB chain and the XRP Ledger (XRPL). Furthermore, Ethereum leads SOL in the number of tokenization projects on the network, with 675 and 345, respectively. The largest projects on Ethereum are Tether Gold, Paxos Gold, Syrup USDC, and BlackRock’s BUIDL funds

Meanwhile, the largest projects on Solana are BlackRock’s BUIDL fund, PRIME, Ondo tokenized funds, and OnRe tokenized Reinsurance. However, it is worth noting that Ethereum and SOL are still behind Arbitrum in the number of tokenized projects on their networks. Arbitrum currently has an RWA count of 1,763, although it is still behind Ethereum and SOL in total RWA value and holders

SOL Gaining Ground On Stablecoins

Data shared by Visa showed that the Solana network gained ground over Ethereum in stablecoin transaction volume last month. SOL recorded a stablecoin transaction volume of $660.64 billion, while Ethereum saw a stablecoin transaction volume of $548.82 billion in February

Related Reading: Solana OI And Weighted Funding Rate Crash To Levels Not Seen Since 2023Solana has achieved this feat despite being behind Ethereum in stablecoin asset count, with Ethereum at 86 and Solana at 33. Ethereum also has a larger stablecoin market cap of $$166.7 billion, while SOL has a stablecoin market cap of $15.8 billion. Ethereum also has more stablecoin holders (21.18 million) than Solana (9.7 million)

Ethereum’s stablecoin market cap has grown over 4% in the last 30 days, but its stablecoin transfer volume has dropped 100% to 48,850. SOL, on the other hand, has seen its stablecoin holders climb over 9% in the last 30 days, and its transfer volume has surged 85% to $1.85 trillion.

SOL trading at $85 on the 1D chart | Source: SOLUSDT on Tradingview.comFeatured image from Adobe Stock, chart from Tradingview.com Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.