Solana is set to broaden its focus beyond memecoins and retail this year, following a record level of real-world asset tokenization activity in December.
According to data from RWA.xyz, the value of tokenized RWAs on Solana grew by nearly 10% in the last month, reaching a new high of $873.3 million, while the number of token holders increased by over 18.4% to 126,236 during the same period.
The majority of these RWAs are backed by US Treasuries, including the BlackRock USD Institutional Digital Liquidity Fund and the Ondo US Dollar Yield, featuring market caps of $255.4 million and $175.8 million, respectively.
Recently introduced tokenized stocks like Tesla xStock and Nvidia xStock are also gaining ground, valued at $48.3 million and $17.6 million, respectively, alongside the tokenization of institutional funds on Solana.
Solana is on track to become the third blockchain to surpass $1 billion in tokenized RWAs, following Ethereum at $12.3 billion and BNB Chain, which recently crossed $2 billion.
SOL could hit a new high in 2026 if a key bill passes: Bitwise
Last month, crypto asset manager Bitwise predicted that Solana would achieve a new all-time high if the US enacts the market-structure-focused CLARITY Act in 2026.
Related: Can Solana overcome its memecoin reputation in 2026?
Should it pass, Bitwise anticipates a surge in crypto tokenization, with Solana emerging as a primary beneficiary: “We’re optimistic about Ethereum and Solana. Very optimistic. Mainly because we believe stablecoins and tokenization are major trends, positioning Ethereum and Solana as likely leaders in that growth.”
SOL has some ground to cover against BTC, ETH
Solana (SOL) begins 2026 at a notably lower price compared to its start in 2025, trading around $125 compared to approximately $190 at the same time last year.
SOL also sits over 57% below its all-time high of $293.3 set on January 19, 2025, while Bitcoin (BTC) and Ether (ETH) achieved their all-time highs more recently—October and August—and are currently trading much closer to those valuations.
ETFs and institutional payments boosting SOL momentum
Solana’s position in the institutional sector solidified in late October when the US Securities and Exchange Commission approved the first batch of now six spot Solana exchange-traded funds.
These Solana products have accumulated a total of $765 million in inflows, according to data from Farside Investors data.
In October, international remittance leader Western Union selected Solana to develop its stablecoin settlements platform for over 150 million customers across more than 200 countries and territories, with an expected rollout in the first half of 2026.
Solana’s on-chain metrics are robust
Solana is currently outpacing all blockchains in application revenue, demonstrating its ability to generate substantial income even during declines in memecoin activity.
In the past 30 days, it earned over $110 million, significantly outpacing second place Hyperliquid at $61.1 million and nearly double Ethereum’s $47.2 million, as per data from DeFiLlama data.
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