Solana RWA Market Cap Grows From $700 Million to $4.3 Billion in One Year According to a Castle Labs report on the Solana ecosystem, on-chain RWA market capitalization on Solana grew from about $700 million to $4.3 billion over the past year. Over the same period, Ethereum RWA grew from $15.5 billion to $16.6 billion. Solana’s share of total RWA relative to Ethereum rose from roughly 4.5% to 26%. The report also noted Solana’s application revenue over the past 30 days reached $193.1 million, ranking first among the networks tracked, ahead of Hyperliquid at $86.5 million and Ethereum at $53.8 million.