Real-world asset (RWA) tokenization on the Ethereum network and the XRP Ledger has been ramping up over the last few years. This has become more prominent with a shift toward bringing more real-world assets (RWA) into the crypto industry, to allow access to more ‘stable’ investment options. But despite the Ethereum network and the XRP Ledger being the leading 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 In The Top Rank 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 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 sit at just over 153,000, putting it in third place.
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The Solana network has actually 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 coming into 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 over 263,000 RWA holders on the Plume network. This is a considerable gap between the other networks, beating second and third place by over 100,000 users each. However, when it comes to total value (excluding stablecoins) on the network, Plume falls well behind, landing at 11th place, with $340 million.
XRP, on the other hand, has a surprisingly low number of RWA users, despite the tokenization push by Ripple. The website’s data presents an underwhelming 3,795 RWA users on the XRP Ledger, although with a considerable RWA Total Value of $1.94 billion.
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Other chains with good motion in the RWA space include the likes of BNB Chain. BNB Chain currently boasts more than 39,500 RWA users, with $2.656 billion in total value. Stellar and Polygon are also moving on the list with 9,317 and 15,470 users, respectively.
Presently, the RWA sector has a total represented value of $336.08 billion, with the majority of it, $301.04 billion, held in stablecoins. When it comes to assets that are represented on the blockchains (33) that serve this sector, it comes out to $26.43 billion in distributed asset value, the majority of which is controlled on the Ethereum blockchain.
Featured image from Dall.E, chart from TradingView.com