Table of Contents
TL;DR
- On-chain RWAs (Distributed Asset Value) are $21.35B, up +$0.66B (+3.19%) vs last week — growth cooled from the Jan 12 “jump,” but it stayed clearly positive.
- Participation keeps expanding: 636,898 wallets hold RWAs, up +16,847 (+2.72%).
- Issuer surface widened again: platforms/issuers rose 137 → 140 (+2.19%).
- Chain story changed: Solana did most of the value growth work this week, while BNB Chain kept onboarding wallets but added only a little value.
- Stablecoins also moved up: $299.57B (+0.62%) and 223.02M holders (+1.17%) — the settlement base stayed massive and kept widening.
Market snapshot (as of 19 Jan 2026)
| Metric | Value | 7-day Δ |
|---|---|---|
| Total on-chain RWAs (Distributed Asset Value) | $21.35B | +$0.66B (+3.19%) |
| Holding addresses (RWA holders) | 636,898 | +16,847 (+2.72%) |
| Active issuers (tokenization platforms, proxy) | 140 | +3 (+2.19%) |
| Stablecoin backdrop (total value) | $299.57B | +$1.84B (+0.62%) |
| Stablecoin holders | 223.02M | +2.58M (+1.17%) |
How to read this: stablecoins are held by 223.02M addresses, so the user base for “settlement money” is still far broader than the RWA holder base (≈350×). By value, RWAs are now about 1:14.0 versus stablecoins — the rails still outweigh the cargo.
Sources behind the 7-day deltas: this week’s RWA.xyz snapshot vs last week’s snapshot.
Chain dynamics
This week looks like “steady adoption + one clear value winner.” Total market value rose ~3.2% WoW, but the distribution of growth mattered more than the headline: one network added a lot more value than the rest.
What changed vs last week:
- Ethereum: added both value and holders this time (a more “normal” growth shape after last week’s near-flat value).
- BNB Chain: holders surged again, but value only nudged up — still a “wallet wave first” story.
- Solana: the standout — big value expansion with modest holder growth, which often means larger allocations landed.
- Stellar: holders were basically flat (slightly down) while value grew a bit — calmer, more stable than last week’s concentration move.
Top 5 networks by RWA Total Value (excl. stablecoins) — with 7-day % vs 01/12 in brackets:
| Network | RWA holders | RWA total value (excl. stablecoins) |
|---|---|---|
| Ethereum | 148,720 (+2.12%) | $13,024,966,379 (+2.28%) |
| BNB Chain | 15,224 (+31.74%) | $2,034,184,842 (+0.62%) |
| Solana | 142,418 (+1.96%) | $1,127,131,879 (+19.56%) |
| Stellar | 4,558 (−0.11%) | $1,008,503,619 (+1.43%) |
| Arbitrum | 3,771 (+0.69%) | $756,832,258 (+0.39%) |
Note: Liquid Network now shows $1,084,630,243 in RWA value (excl. stablecoins) with 22 holders, which places it between Solana and Stellar by value in today’s table.
Commodities (tokenized gold, etc.)
After last week’s strong “activity + size” move, commodities kept climbing, but the pace cooled into a more sustainable rhythm:
| Commodity metric | Value (Jan 19) | WoW change vs Jan 12 |
|---|---|---|
| Market cap | $4.48B | +$0.05B (+1.13%) |
| Monthly transfer volume | $5.48B | +$0.27B (+5.18%) |
| Monthly active addresses | 29,149 | +1,987 (+7.32%) |
Gold is still the core of the bucket by market cap:
- Tether Gold (XAUT): $1,931,910,697
- Paxos Gold (PAXG): $1,766,695,324
What to watch into late-January 2026
- Solana follow-through: this week’s value jump is large. If it repeats, it’s a real rotation; if it fades, it may have been one big product/flow.
- BNB conversion: holders keep rising fast, but value isn’t matching. Watch whether onboarding turns into allocation.
- Stablecoin tailwind: stablecoin value is slightly up again, and holders keep growing. If value growth accelerates, RWAs usually get more “liquidity room.”
Bottom line
As of January 19, 2026, RWAs stayed in growth mode: value +3.19% WoW and holders +2.72% WoW. The week’s key signal is where the value landed: Ethereum grew steadily, BNB added lots of new wallets but little new value, and Solana delivered the clearest value expansion. Commodities kept gaining usage, and stablecoins remained the giant base layer that keeps widening underneath everything.
