Table of Contents
TL;DR
- On-chain RWAs (Distributed Asset Value) are $19.25B, up +$0.20B (+1.05%) vs last week — still a slow, steady grind, not a breakout.
- Participation keeps expanding: 603,040 wallets hold RWAs, up +8,698 (+1.46%) vs last week.
- Chains: Ethereum added both value and holders, Solana grew faster than the pack, while BNB Chain added many holders but almost no value (classic “new wallets first” pattern).
- Commodities woke up on activity: monthly transfer volume +36.49% and active addresses +27.47%, while market cap rose a modest +1.26%.
- Stablecoins remain the settlement ocean at $298.04B (–0.16%) with 217.45M holders (+1.22%) — breadth keeps expanding even when value is flat.
Market snapshot (as of 05 Jan 2026)
| Metric | Value | 7-day Δ |
|---|---|---|
| Total on-chain RWAs (Distributed Asset Value) | $19.25B | +$0.20B (+1.05%) |
| Holding addresses (RWA holders) | 603,040 | +8,698 (+1.46%) |
| Active issuers (tokenization platforms, proxy) | 129 | 0 (+0.00%) |
| Stablecoin backdrop (total value) | $298.04B | –$0.47B (–0.16%) |
How to read this: stablecoins are held by 217.45M addresses, so the user base for “settlement money” is still far broader than the RWA holder base (≈ 361×). By value, RWAs are still about 1:15.5 versus stablecoins.
Sources behind the 7-day deltas: this week’s RWA.xyz snapshot vs last Monday’s weekly snapshot.
Chain dynamics
This week looks like a “new year reset” pattern: large chains stayed stable, but who is adding wallets vs who is adding value tells the real story.
- Ethereum: quietly strengthened again — value +0.52% and holders +2.07%. That’s a healthy combo: not just more wallets, but also a bit more capital.
- Solana: the fastest mover in the top group — value +3.26% and holders +2.75% . That suggests broader demand than just one or two large wallets.
- BNB Chain: holders +10.70%, but value basically flat (+0.02%). This often means many new small wallets are testing or onboarding, while big money did not follow yet.
- Stellar: after last week’s “weird” move, it stabilized: holders flat (+0.06%) and value +1.42%. Looks more like normal flow again.
Top 5 networks by RWA Value (Distributed) (excluding stablecoins) — with 7-day % in brackets:
| Network | RWA holders | RWA total value (excl. stablecoins) |
|---|---|---|
| Ethereum | 143,126 (+2.07%) | $12,731,336,361 (+0.52%) |
| BNB Chain | 9,467 (+10.70%) | $1,856,971,454 (+0.02%) |
| Stellar | 4,858 (+0.06%) | $896,505,924 (+1.42%) |
| Solana | 127,801 (+2.75%) | $872,759,456 (+3.26%) |
| Arbitrum | 3,716 (+0.43%) | $726,317,100 (+0.10%) |
Current network data is as of 01/05/2026 on RWA.xyz.
Commodities (tokenized gold, etc.)
This week, commodities looked more “used”, not just “held”:
- Market cap: $4.03B (+1.26% WoW)
- Monthly transfer volume: $4.75B (+36.49% WoW)
- Monthly active addresses: 23,150 (+27.47% WoW)
Gold is still the core of the bucket:
- Tether Gold (XAUT): $1.82B, about +3.5% WoW
- Paxos Gold (PAXG): $1.62B, about –0.5% WoW
Simple takeaway: activity jumped much more than market cap, so this week likely had more rebalancing / moving / trading than last week.
What to watch into mid-January 2026
- BNB Chain “wallet wave”: do those new holders turn into value growth next, or does the chain stay “many new wallets, same money”?
- Solana follow-through: it grew fastest in value among the top networks this week — watch if that continues or cools off after the first week of January.
- Commodities activity: this week’s volume/addresses surge is big — if it holds for 2–3 weeks, it’s a real trend; if it snaps back, it was a short “year-turn” burst.
- Stablecoins vs RWAs: stablecoin holders keep growing faster than RWA holders. If stablecoin value starts rising again, RWAs usually get more “room” to grow too.
Bottom line
As of January 5, 2026, RWAs started the year with calm, positive drift: value is up ~1% WoW, holders are up ~1.5% WoW, and issuers are flat at 129. The most interesting signal this week is behavior, not headline TVL: BNB added wallets without value, Solana added both, and commodities saw a real activity rebound.
