# RWA — X 热门讨论 (2026-09-27 22:54 UTC)
## @SolidTradesz (Solid 堅固) · 09-27 21:31 · ♥79 ↻0 💬28 The real RWA thesis isn’t “put stocks onchain”
it’s what happens when every financial asset becomes programmable money
that’s when things get really silly > 引用 @andyyy: Onchain finance is going to eat Wall Street. https://x.com/SolidTradesz/status/2104323047020700013
## @WorldOfMercek (Mercek) · 09-27 21:23 · ♥51 ↻6 💬41 RWA is getting big enough that looking at it as one market is starting to hide what’s actually happening underneath.
Ethereum still dominates by value. Around $16.6B in distributed RWAs, compared with $5.7B on BNB Chain, $4.35B on Solana and $3.38B on Stellar.
So at first glance, not much to debate. Ethereum is still way ahead.
Then you look at how many different RWA assets actually sit on each chain and the picture gets weird.
Arbitrum has 7,083.
Solana has 3,098.
Ethereum has 2,871.
BNB Chain has 2,561.
And Stellar has just 72.
That’s probably the part that surprised me most.
Arbitrum has more than twice as many RWA assets as Ethereum, but only around $1.03B in distributed value.
Stellar is basically the opposite. Only 72 assets, yet around $3.38B in value.
So “more RWAs” clearly doesn’t mean “more money.”
Some chains are filling up with thousands of smaller assets. Others have far fewer, but the individual issuances are much larger.
You can almost see the personality of each network in the data.
Ethereum is where the big value still sits.
Arbitrum has the widest variety.
Stellar is carrying a surprisingly large amount of value with almost no asset count compared with the others.
Solana sits somewhere in the middle and has another thing going for it right now: flows.
Over the last 30 days, Solana saw roughly +$192M in net RWA flows.
Stellar: +$147M.
Robinhood: +$122M.
Arbitrum: +$68M.
Meanwhile Ethereum was -$896M and BNB Chain was -$256M over the same window.
The Ethereum number obviously looks dramatic, but I wouldn’t read one month and suddenly say the RWA market is leaving Ethereum. Its existing base is still much bigger than everyone else.
What it does tell us is where the fresh activity has been showing up lately.
And right now that’s more on Solana, Stellar, Robinhood and a few of the smaller networks.
This is why I’m starting to think RWA probably won’t end up being a simple winner-takes-all chain narrative.
Different networks may just end up winning different parts of the market.
Ethereum can remain the home for the largest pools of value while other chains win on asset count, speed, issuance activity or specific types of RWAs.
That’s much more interesting to me than asking which chain is “the RWA chain.”
If the same flow pattern is still there a few months from now, then it becomes a much bigger story.
For now, it’s a pretty good snapshot of how quickly the market underneath RWA is starting to split into different lanes. https://x.com/WorldOfMercek/status/2104321149274608105
## @v4dotfun (v4.fun) · 09-27 17:32 · ♥40 ↻11 💬5 Congrats to the @AevaChain team for launching their Layer 1 RWA Mainnet.
Aeva is building on https://t.co/I0LFmNoRTs, the tech launchpad on Robinhood. > 引用 @AevaChain: Aeva Mainnet is live.
For years, every chain treated assets the same way. A token. A balance. Nothing more.
Tonight, that changes. https://t.co/WAjlfQv2xR https://x.com/v4dotfun/status/2104262930409849265