Solana’s (SOL) RWA market has seen significant growth over the past year, with the same catching up with Ethereum thanks to improved application revenues in its network. In fact, the network’s on-chain RWA market capitalization increased from around $700 million to $4.3 billion in just one year.
Here, it should be noted that there is still a sizeable difference, compared to Ethereum’s market which increased from $15.5 billion to $16.6 billion. Simply put, while Solana’s RWA market is just 26% the size of Ethereum’s, Solana saw much greater growth relative to Ethereum.
With increasing adoption and revenue outperforming other networks, can these factors help push SOL’s price higher?
Q3 release reports reveals some gains
According to the released reports, Solana App revenue rose by about 48% QoQ to $299.1 million, the highest since Q3 2025. This revenue highlighted the scale of economic activity across Solana’s applications.
However, much of the total came from consumer applications and trading related activity. This can fluctuate with market speculation and user attention.
At the same time, the network’s tokenized equities hit a record $7.1 billion for the quarter, with September hitting a $4.4 billion all-time high. That is not all as Solana’s network processed about $189 Billion in spot DEX volume. This represented a $7 billion surge of all cross-chain spots from the last quarter.
As per the release report, the network activity also improved in terms of size and speed. Solana processed a record 14.2B transactions, around 1,790 every second.
Can SOL turn adoption into price gains?
On the price charts, SOL’s price action was yet to gain ground at press time. In fact, it had just dropped past the bearish pennant pattern. SOL’s price was still testing the last line of defence, a demand zone between $95 and $100. A break below the demand zone will result in further dips.
Until then, the long-term structure will remain bullish. Especially since the altcoin was trading just above both 100-day and 200-day Exponential Moving Averages.
As long as the support is defended by the buyers and demand remains strong, any improvement in the performance of the ecosystem can further solidify the case for a move towards resistance.
Even though there is strong growth in RWA and revenue from applications, that does not mean there will be instant gains. The altcoin needs buying pressure to break above the resistance level.
Final Summary
- Solana’s RWA market cap climbed from $700 million to $4.3 billion in one year, narrowing the gap with Ethereum’s tokenized asset market.
- Solana applications generated $299 million in reported quarterly revenue.
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