The Real-World Asset (RWA) tokenization sector has witnessed remarkable growth in the past few years, with tokenized assets on blockchains reaching a total value of $22.11 billion as of May 2025. This growth marks a tremendous increase of 10% over the past 10 days.
Amid this surge, Stellar (XLM) has emerged as a standout performer, as it secures the third spot on the RWA leaderboard with $475.73 million in total tokenized assets. It has surpassed two of the most dominating cryptos—XRP Ledger and Solana—in achieving this rank.
However, Ethereum continues to dominate the space, holding the top position with $8.53 billion in total RWA value locked, accounting for 51.7% of the market share.
The rise of Stellar in the RWA rankings highlights its growing traction in the tokenization sector. Despite a drop of 4.21% in its market shares, the XRP-rival blockchain has outpaced Solana, which now sits in sixth place with $314.86 million, and XRP Ledger, which ranks ninth with $114.40 million—as per RWA.zyx data.
Stellar’s efficient infrastructure for tokenized assets has given it a competitive edge in its recent growth, making it a preferred network for RWA pioneers. Following closely behind Ethereum is zkSync Era, an Ethereum Layer-2 solution, with $2.23 billion, reinforcing Ethereum’s ecosystem dominance.
Algorand also made headlines by securing fourth place with $370.90 million in RWA value, largely driven by the tokenized Exodus stock (EXOD). However, some analysts suggest that Algorand’s figures may be underreported, with projects like Lofty.ai and Meldgold potentially unaccounted for, which could elevate its ranking further.
To the surprise of many, Aptos rounds out the top five with $345.85 million, as it’s quite a new player in the blockchain space.
Ethereum’s lead is bolstered by its robust infrastructure and the support of major financial players like BlackRock, which has tokenized $150 billion in assets on the network. Despite this, the price of ETH has struggled to reflect the growth.
Meanwhile, Stellar’s performance signals a potential rebound as the blockchain continues to attract interest in the asset tokenization space.
The RWA tokenization market is proving to be a transformative force in blockchain finance, bridging traditional assets with decentralized ecosystems. As Stellar gains momentum and Ethereum holds its ground, the competition among blockchains like Solana, XRP Ledger, and Algorand intensifies, setting the stage for further innovation in the tokenization landscape.
Also read: Stellar Stablecoin Supply Hits New High; Will XLM Price Follow?
