Journalist
Posted:
Solana’s [SOL] rise within the RWA sector unfolded as a sustained expansion rather than a one-time liquidity spike. Distributed value climbed to $1.7 billion by the 23rd of February, marking a 46% monthly surge.
This pace outstripped the sector’s 7% growth to $25.07 billion, signaling clear share capture.
Initially, growth tracked broader market issuance, yet momentum accelerated as treasury products gained traction. Over 90% of Solana’s non-stablecoin RWAs are concentrated in yield instruments like tokenized treasuries.
Institutional demand for 3–4% APYs reinforced inflows, while low-cost throughput improved settlement efficiency.
Source: RWA.xyz
Simultaneously, cross-chain rotations supplemented expansion, as liquidity migrated from Ethereum’s [ETH] incumbent base. Solana added roughly $0.54 billion, contributing approximately a third of the sector’s net increase.
This capital formation strengthened on-chain liquidity and trading depth.
At the same time, the memecoin ecosystem gained advantages because more money was moving around, more users were joining, and lower costs made it easier to trade.
Treasury-led RWA growth drives Solana’s institutional breakout
Solana’s RWA expansion reflects a product-led acceleration rather than diffuse capital inflows. Distributed value climbed to roughly $1.71 billion by the 23rd of February, anchored by treasury dominance.
Tokenized treasuries alone command about 49%, equivalent to $833 million.
Tokenized treasuries anchored this climb, capturing roughly 49%, which translates to approximately $833 million of total value.
Instruments such as BUIDL ($552.6 million) and USDY ($179.4 million) drew institutional flows seeking 3–3.5% APYs. As yield demand strengthened, capital allocation deepened across duration-backed structures.
Thereafter, private credit layered additional momentum. Credix-linked pools, including Hastra PRIME, scaled exposure to $330.4 million. This return premium amplified the migration of allocators toward Solana’s rails.
Parallel issuer deployments reinforced this rotation. Multi-chain products from Ondo Finance [ONDO] and Securitize signaled strategic reallocation rather than experimental issuance.
As liquidity accumulated, Solana’s capital depth expanded, and settlement efficiency improved.
At the same time, nearby ecosystems took advantage of the extra resources, as increased processing speed and lower costs boosted trading and investment activities.
Final Summary
- Solana’s [SOL] RAW rise is strong treasury issuance and demand from institutions for yields rather than episodic liquidity inflows.
- Deepening capital formation and issuer rotation reinforces Solana’s settlement gravity.