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RWA on Ethereum now has more TVL than all of Solana's DeFi combined.
This is something I didn't expect to happen so soon.
→ Ethereum RWA: $21.75B
→ Solana DeFi TVL: $6.78B
But here's what's more interesting.
On February 9th, Solana's RWA market was virtually nonexistent, with a market cap of $457K.
Six weeks later, it's at $1.26B, already diversified across tokenized funds, stocks, equities, and private credit.
Ethereum still dominates by a wide margin, and that's not changing anytime soon. But the velocity on Solana tells you where the next wave of RWA liquidity is looking to land.
Two different timelines. Same thesis.