A recent report by the RWA Foundation and Token Terminal, covering the week of October 18 to 25, 2026, highlights a significant redistribution of capital across blockchain networks in the realm of real-world asset tokenization. The data indicates a decline in volume for Ethereum infrastructure, with new funds and investor interest gravitating towards alternative networks.
Solana Leads in Capital Influx
Solana emerged as the standout performer during the week, attracting a remarkable $453.5 million in the tokenized funds segment. This sum accounted for 73% of the total weekly inflows among the top 10 blockchain networks. Following Solana, Stellar recorded inflows of $124.5 million. Meanwhile, the XRP Ledger managed to secure a position among the top 10 networks but saw a modest inflow of only $131,000, underscoring a stark contrast in capital attraction compared to its competitors.
The data from RWA Foundation and Token Terminal reveals a shift in funds from Ethereum to alternative networks offering lower costs and faster transactions.
Liquidity in Tokenized Stocks Shifts Direction
The tokenized stock market also witnessed a similar trend, with Ethereum experiencing a decline in market capitalization by $26 million. A significant portion of this freed liquidity was redirected towards BNB Chain and Solana. BNB Chain recorded an increase of $135.9 million, while Solana saw a boost of $55.8 million.
In terms of user growth, Solana took the lead as well, adding 114,600 new wallets within a week. The Backpack platform saw the creation of 58,500 new addresses. Retail-focused Binance products bStocks and xStocks were instrumental in this growth, with bStocks reaching $127.8 million and xStocks $73.4 million in additional volume, together accounting for approximately 94% of the segment’s monetary expansion.
Stablecoins: Divergence Between Paxos and Tether
In the stablecoin market, issuance volume and user growth concentrated among key players. Paxos led with a capital inflow, increasing its market capitalization by $249.8 million within a week. This rise comprised 65% of the total growth among the top 10 issuers, distributed primarily via Arc and Solana networks.
Paxos is known as a fintech company specializing in issuing dollar-backed digital assets, with its tokens circulating across different blockchain networks. In terms of user base expansion, Tether stood out, accounting for 90% of the new address creations among the largest 10 issuers. This translates to 1.7 million new wallets, with the BNB Chain as the central hub, adding 1.3 million new addresses. Tron and Solana followed with 212,000 and 184,000 new addresses, respectively.
Tether added 1.7 million new wallets in a week, with BNB Chain as the primary driver, contributing 1.3 million new addresses.
Institutional Activity: Franklin Templeton and J.P. Morgan Excel
Institutional capital inflows in the tokenized funds segment remained stable, with Franklin Templeton and J.P. Morgan recording notable growth of $33.9 million and $33.6 million, respectively. These two institutions accounted for nearly half of the weekly increase. Regarding investor base expansion, the independent fund Spiko led with 491 new addresses.
Weekly data indicates a directional shift in liquidity within the RWA sector based on two primary criteria: capital and new users are gravitating towards issuers offering the highest supply volumes or blockchain networks with lower transaction costs.
