Table of Contents
TL;DR
- Distributed Asset Value: $25.07B, +$0.24B (+0.97%) WoW — small growth this week.
- Total Asset Holders: 709,945, −139,352 (−16.41%) WoW — a big drop in holders. This looks more like a “recount / cleanup” than real capital leaving.
- Platforms: 160 total (Distributed 144 / Represented 16), +2 (+1.27%) WoW — infrastructure is still growing, but slower.
- Stablecoins: $295.75B (−0.26% WoW) and 236.61M holders (+0.57% WoW) — value slightly down, users still up.
- Stablecoin holders are about ~333× larger than RWA holders; stablecoin value is about ~11.8× larger than distributed RWA value.
Market snapshot (as of Feb 23, 2026)
| Metric | Value | 7-day Δ (vs Feb 16) |
|---|---|---|
| Distributed Asset Value | $25.07B | +$0.24B (+0.97%) |
| Total Asset Holders | 709,945 | −139,352 (−16.41%) |
| Platforms (All) | 160 | +2 (+1.27%) |
| Stablecoin Value | $295.75B | −$0.76B (−0.26%) |
| Stablecoin Holders | 236.61M | +1.35M (+0.57%) |
Main point: value is up and platforms are up, but holders are down a lot. That is unusual, so we need to look at chains.
Chain dynamics
This week looks like: “value up, but holders were recalculated.” The biggest holder change is on Solana.
| Network | RWA holders | 7-day Δ holders (vs Feb 16) | RWA total value (excl. stablecoins) | 7-day Δ value (vs Feb 16) |
|---|---|---|---|---|
| Ethereum | 176,463 | +3,582 (+2.07%) | $15,037,837,700 | +$0.53B (+3.64%) |
| BNB Chain | 39,899 | +653 (+1.66%) | $2,298,682,505 | +$0.10B (+4.49%) |
| Solana | 159,932 | −126,079 (−44.08%) | $1,747,560,611 | +$0.09B (+5.27%) |
| Liquid Network | 56 | 0 (0.00%) | $1,528,397,432 | −$0.03B (−2.03%) |
| Stellar | 5,217 | +1,186 (+29.42%) | $1,270,919,009 | +$0.03B (+2.49%) |
Simple reading:
- Ethereum: value and holders are both up. This is a normal “healthy” shape.
- BNB Chain: small but steady growth in both.
- Solana: value is up, but holders are down a lot. If many users sold, value would often go down too. So this looks like a metric change (cleanup, recount, or classification change).
- Stellar: holders grew fast, but value growth is small. This can mean many small wallets joined.
Commodities pulse (tokenized gold, etc.)
Commodities are stable this week. Value is a bit up, but activity is a bit down.
| Commodity metric | Value (Feb 23) | 7-day Δ (vs Feb 16) |
|---|---|---|
| Market Cap | $7.13B | +$0.07B (+0.99%) |
| Monthly Transfer Volume | $18.01B | −$0.37B (−2.01%) |
| Monthly Active Addresses | 60,092 | −220 (−0.36%) |
| Holders | 224.01K | −4.99K (−2.18%) |
Top assets by size (still mostly tokenized gold):
- XAUT (Tether Gold): $2,706,839,720
- PAXG (Paxos Gold): $2,340,262,358
What to watch next
- Solana holders: Will the big drop happen again next week?
- If not, it was likely a one-time recount/cleanup.
- Platforms: After a big jump last week, this week is only +2.
- If the platform count keeps growing, it is a good sign for supply/infrastructure.
- Stablecoins: holders are rising, value is slightly down.
- If stablecoin value starts rising again, RWAs often get more “liquidity support.”
Bottom line
On Feb 23, 2026, RWAs grew a little in value and added more platforms, but lost many holders. The holder drop looks like a data/metric effect, mainly from Solana, because value did not fall with it. If holders stabilize next week, this week will look like a normal pause in metrics while the market value trend stays positive.
