The Solana network reached a record 1.4 million addresses holding tokenized stocks, according to Blockworks data, making the blockchain the absolute leader in the RWA category as holders barely exceeded 500,000 in June. The boom is driven by retail investors aggressively buying Apple, Tesla and Nvidia shares and using them as collateral in DeFi protocols, thanks to round-the-clock market access with up to 65% of volume traded outside standard U.S. exchange hours. However, capital distribution remains highly uneven: stablecoins account for $14.6 billion on the network, U.S. Treasuries $1.5 billion, while tokenized stocks hold only $485.2 million, with large players favoring conservative instruments. Solana also faces a major operational challenge, as corporate actions such as dividend payments and stock splits require hundreds of thousands of simultaneous transactions, a test the new Token-2022 standard must pass. Despite the surge, the price of SOL remains stuck in a $100-$107 range due to capital outflows from spot ETFs.
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