The value of real-world assets (RWA) on the Solana network hit a record $4.6 billion.

On Sept. 23 local time, blockchain outlet U.Today said Solana’s distributed asset value totalled $4.49 billion as of that day. It said total RWA value including a benchmark value reached $4.6 billion.

The record marks an 11.47 percent increase over the past 30 days. Solana continued to grow in tokenised assets as user engagement and DeFi platform activity persisted. On-chain data showed Solana’s RWA ecosystem reached a new all-time high.

Participation indicators also expanded quickly. Solana’s RWA holders rose to 685,850, nearly doubling compared with levels recorded over the past 30 days. Activity involving tokenised assets and stablecoins within the network grew quickly in September, and user and fund inflows also increased.

Amid the trend, the market is focusing on Solana’s widening use as a distribution infrastructure for assets based on real-world use. The outlet noted that activity around tokenised assets surged as more users and capital moved through the network. That means the rise in RWA value was not a simple price swing but progressed alongside broader participation.

Shares by major operators were also clear. Circle was counted as the largest platform by RWA value on the Solana network. Circle’s value was shown at $7.5 billion. Tether Holdings followed with $3.8 billion, and BitGo recorded $1.6 billion.

Because these figures appear much larger than Solana’s total RWA value of $4.6 billion, they also suggest the possibility that the network-wide total and the operator-by-operator tally are not based on the same method. Still, U.Today said reputable firms are using Solana’s speed and efficiency to expand tokenisation.

Ultimately, the key point of these indicators is that Solana has entered a phase where tokenised assets and stablecoin distribution are growing at the same time, beyond being a DeFi-focused network. With total value hitting a new high and the number of holders rising sharply in a short period, the question going forward is whether this growth will continue to be led by specific issuers or translate into broader asset diversity across the network.