Solana Leads RWA Growth With $348M Increase as SOL Holds Firm Above $98

TLDR

• Solana’s distributed RWA value rose 11.13% to $4.23B after a $348M net increase over the latest 30 days.
• RWA Foundation data placed Solana ahead of Ethereum and Stellar in 30-day distributed assets growth.
• SOL trades near $103 as Fibonacci support from $99.14 to $102.50 defines the immediate recovery zone.
• A clean break below $90 would invalidate TraderSZ’s setup while $110 remains the next major resistance.

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Solana’s distributed real-world asset value climbed to about $4.23 billion after recording the largest net increase over the latest 30-day period. The RWA Foundation said Solana added about $348 million, while its distributed RWA total rose 11.13%.

The organization published the figures on Sept. 5 using RWA.xyz data and said, “Solana is leading the pack.” Meanwhile, SOL traded near $103 as traders watched whether support above $98 could sustain the recovery.

Solana Leads 30-Day Distributed RWA Growth

The RWA Foundation’s figures cover distributed real-world assets rather than the full value of every asset linked to a tokenization platform. These products can include tokenized government bonds, private credit, investment funds, and equities. 

Investors can subscribe to, hold, or transfer them through blockchain wallets and approved custodians. RWA.xyz data showed Ethereum’s distributed RWA value rising 0.77% over 30 days, while Stellar gained 5.22%.

By contrast, XRP Ledger fell 5.51%, and Avalanche declined 14.06%. Those changes can reflect subscriptions, redemptions, transfers between networks, and movements in the reported value of underlying assets.

The $348 million increase also differs from transaction volume. It represents the net change in assets distributed on Solana after inflows and outflows, not the amount investors traded during the month.

Likewise, the measure differs from decentralized finance total value locked, which generally tracks crypto deposited in lending, trading, and staking applications. The network’s 11.13% rise therefore placed Solana ahead of the other named chains for the period, based on the foundation’s cited distributed RWA dataset.

SOL Holds Key Support as Correction Develops

RWA.xyz’s distributed asset category also differs from the represented asset value. A token can provide access to a larger off-chain portfolio while only part of its supply circulates on one blockchain.

Against that backdrop, Solana’s price structure remains closely tied to the upper-$90 area. SOL traded around $103 after recovering from its latest pullback. Immediate Fibonacci support sat at $102.50, $101.51, $100.53 and $99.14, creating a tight cluster below the current market price.

More Crypto Online described the move as part of a corrective Elliott Wave structure rather than a confirmed new impulsive advance. The analyst said Solana remains in wave 4 consolidation after rejection near $110. 

Recent price action has formed overlapping three-wave moves, which the analyst associates with corrective activity. Under that scenario, SOL could rise above the Sept. 3 high during a B-wave rebound before a C-wave decline completes the broader correction. That keeps $110 as resistance rather than confirmation by itself.

The deeper support zone sits between $90.46 and $94.83. Holding that range would preserve the possibility of another wave 5 advance after the correction runs its course. A decisive break below the zone would weaken that bullish interpretation and suggest a deeper pullback. 

The broader chart shows SOL moving back above a price area that repeatedly influenced trading earlier in the year, as buyers attempt to turn former resistance into support. TraderSZ said he added to SOL long positions and expects another trend leg higher.

He identified a clean break below $90 as the point that would invalidate the setup. The chart also marks roughly $98.39, the previous quarter’s high, as the immediate level to defend. Remaining above that threshold would keep the breakout structure from the $70 area intact.

The next obstacle sits around $110, while a larger supply zone remains between $146 and $152. Reaching that higher area would first require SOL to hold above $98, establish strength beyond $110, and avoid falling below $90.

The post Solana Leads RWA Growth With $348M Increase as SOL Holds Firm Above $98 appeared first on Blockonomi.

Source: https://blockonomi.com/solana-leads-rwa-growth-with-348m-increase-as-sol-holds-firm-above-98/