Key Highlights
- The combined onchain market for tokenized assets and stablecoins reached $349.2 billion across 50 blockchain networks as of October 5.
- Ethereum held $185.8 billion, giving it a 53.2% share of the market, followed by Tron at $94.2 billion.
- Solana ranked third with $18.2 billion, while BNB Chain and HyperEVM held $9.3 billion and $7 billion, respectively.
Ethereum accounted for 53.2% of the combined onchain market for tokenized assets and stablecoins, with $185.8 billion in value, according to the latest data. The overall market capitalization stood at $349.2 billion across 50 chains.
According to Token Terminal data (on Oct 5 at 17:10 UTC), the total market capitalization of tokenized assets, including stablecoins, measured $349.2 billion. Over the prior 30 days the figure rose 0.6 percent. Over 90 days it increased 1.1 percent. The market recorded 315.5 million holders, up 3.3 percent over 30 days and 11.2 percent over 90 days.
The DeFi total value locked associated with these assets stood at $28.7 billion, representing 8.2 percent of the market. That TVL figure increased 7.8 percent over 30 days and 26.7 percent over 90 days. Twenty-four-hour decentralized exchange volume totaled $3.5 billion, equal to 1.0 percent of the market capitalization. DEX volume declined 58.2 percent over 30 days and 28.4 percent over 90 days.
Onchain Tokenized Asset and Stablecoin Market by Chain
Ethereum led with $185.8 billion and a 53.2 percent share. Tron ranked second with $94.2 billion and a 27.0 percent share. Solana held $18.2 billion for a 5.2 percent share. BNB Chain recorded $9.3 billion, or 2.6 percent. HyperEVM stood at $7.0 billion, or 2.0 percent.
Base accounted for $5.2 billion (1.5 percent). Arbitrum One held $4.7 billion (1.3 percent). Stellar registered $3.8 billion (1.1 percent). XRP Ledger also stood at $3.7 billion (1.1 percent). zkSync Era recorded $3.3 billion (0.9 percent). Avalanche held $2.7 billion (0.8 percent).
The X layer accounted for $1.7 billion (0.5 percent). Polygon registered $1.5 billion (0.4 percent). Injective and Aptos each held approximately $1.1 billion and $1.0 billion (0.3 percent each). The remaining chains, grouped as Other, totaled $6.1 billion for a 1.8 percent share.
Over the past 30 days, Arc added the most market capitalization at $508.3 million, followed by Tempo at $501.0 million and HyperEVM at $500.5 million.
Related stablecoin and RWA data
A Visa survey of consumers across Asia Pacific found that 46 percent said they were likely to use stablecoins within the next five years. The same survey reported that 16 percent of respondents had used stablecoins in the past 12 months.
Respondents identified potential uses, including online shopping, travel spending, overseas purchases, and cross-border payments. About 49 percent of those surveyed believed stablecoins could become a common method for moving money across countries within five years.
Separately, Token Terminal data as of September 24, 2026, at 6:00 p.m. UTC showed the market capitalization of tokenized real-world assets at $46 billion across 35 chains. Ethereum held the largest share of that pure RWA total at $22.2 billion, or 48.4 percent. BNB Chain ranked second with $5.5 billion (11.9 percent). Stellar and zkSync Era each recorded $3.3 billion (7.2 percent and 7.1 percent). Solana held $3.0 billion (6.5 percent).
The latest $349.2 billion figure incorporates both tokenized real-world assets and stablecoins issued onchain. The September RWA figure, by contrast, excluded stablecoins, putting Ethereum’s pure tokenized RWA value at $22.2 billion.
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