Real Asset Tokenization (RWA) on the Ethereum network and XRP Ledger has been on the rise for the past few years. This has become more visible with the move to attract more real world assets (RWA) to the crypto industry to access “sustainable” investment opportunities. But despite the Ethereum network and XRP Ledger being the leading names that come to mind when people talk about RWA, it is surprising that they are not the network with the most RWA users.
Ethereum and XRP are not in the top ranking of users
The Ethereum network currently remains the leader when it comes to the total value of RWA assets held on the chain, sitting at over $15.4 billion at the time of 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 sit at just over 153,000, placing it in third place.
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The Solana network actually surpassed Ethereum this week after crossing the 157,000 threshold in terms of RWA assets. However, despite this, he is still not the leader, and with this indicator he is in second place. 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 in the Plume network. This is a significant difference between the other networks, which each have more than 100,000 users ahead of the second and third places. However, when it comes to total value (excluding stablecoins) on the network, Plume is far behind, coming in at 11th place with $340 million.
XRP, on the other hand, has a small number of RWA users despite the tokenization push by Ripple. The website data suggests 3,795 RWA users on the XRP Ledger, although the total RWA value is $1.94 billion.
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Other chains with good movement in the RWA space include BNB Chain. BNB Chain currently has more than 39,500 RWA users with a total value of $2.656 billion. Stellar and Polygon also move up the list with 9,317 and 15,470 users.
Currently, the RWA sector has a total value of $336.08 billion, most of which, $301.04 billion, is held in stablecoins. When it comes to the assets on the blockchains (33) that serve this sector, it reaches 26.43 billion dollars in value of distributed assets, most of which are controlled on the Ethereum blockchain.
Featured image from Dall.E, chart from TradingView.com
