Solana's tokenized real-world asset ecosystem has reached a new record, with the total value of RWAs on the network climbing to $5.12 billion, according to RWA.xyz. That marks a 17.61% increase over the past 30 days. The Solana Foundation highlighted the milestone on X on Oct. 29, citing data that put the figure at $5.19 billion as of Oct. 28. Nick Ducoff, general manager of institutional at the Solana Foundation, said crossing $5 billion is a clear sign that the 'Token Supercycle' is underway and predicted every financial asset will move onchain over the next decade.
Adoption metrics are accelerating across Solana's RWA ecosystem. The number of wallets holding tokenized real-world assets rose 14.22% over 30 days to 860,511, while the network hosts 3,516 tokenized assets. RWA transfer volume over the same period reached $16.20 billion, an 80.11% increase from the previous period. Ducoff noted that seven of the 29 global systemically important banks are building on Solana, with more expected by year-end.
Solana's Q3 update showed broader ecosystem strength. The network generated nearly $300 million in application revenue, up 50% from Q2, and recorded $197 billion in spot decentralized exchange volume. Solana's stablecoin market capitalization hit a record $17.51 billion, with stablecoins adding another $14.32 billion in value and held by 13.70 million wallets. Developer interest remained elevated, with almost 2,900 projects submitted for Colosseum's Frontier initiative.
On the price front, SOL was rejected near $125 and traded down 3.02% on the day. Analyst Crypto Patel said Solana may have completed a five-wave Elliott Wave impulse pattern and could be starting an ABC correction. He identified $90–$93 as the first support zone and $107–$112 as possible Wave B resistance, with a break below $90 opening the next demand zone at $73–$78. The bearish scenario would be invalidated by a higher-timeframe close above $114, while a low near that demand zone could set up a longer-term move toward $160–$200.
