- Chainlink, Avalanche, Stellar, and Axelar are currently leading the pack when it comes to real-world asset development, according to Santiment.
- The RWA space is gaining momentum, with up to $30 trillion in assets expected to be tokenized by 2030, led by stocks, real estate, bonds, and gold.
As the second week of July wraps up, interest in real-world asset (RWA) tokenization keeps building. Blockchain analytics platform Santiment just shared its latest snapshot, highlighting which projects are leading the way.
In a post shared to its official X account, Santiment highlighted the top crypto projects in the RWA sector ranked by development activity, with directional indicators showing how each project’s position has changed compared to the previous month.
The Top 3 Networks
Chainlink (LINK) is leading the charge in real-world asset tokenization, cementing its position as a core infrastructure player in the space. Its dominance is driven not just by constant development progress, but also by deep integration into institutional systems through Oracle infrastructure and real-world partnerships.
From powering data feeds for tokenized assets to supporting smart contracts across blockchain ecosystems with Chainlink Functions & Automation, Chainlink has become a foundational layer for tokenization efforts.
This hasn’t gone unnoticed. In a recent memo, Bitwise CIO Matt Hougan highlighted Chainlink as one of the most compelling ways to invest in the tokenization trend. He described it as one of the “cleanest” plays in the space, mentioning it alongside other major networks like Ethereum (ETH), Solana (SOL), and Ripple (XRP).
The sentiment echoes what BlackRock CEO Larry Fink emphasized in his 2025 shareholder letter, where he stated: “Every stock, every bond, every fund, every asset, can be tokenized.” Marketcap data shows that Chainlink is currently trading at $14.39, up about 2.39% on the day, with a market cap sitting just over $9 billion.
Avalanche (AVAX) is holding ground as the second network after LINK. Its unique subnet architecture has made it a favorite among developers building scalable platforms for tokenized assets. The network’s commitment to RWAs was made clear as far back as 2023 with the launch of Avalanche Vista, a $50 million initiative by the Avalanche Foundation to support tokenization projects.
That energy was carried into 2025, when Bergen County, New Jersey, partnered with Balcony to migrate 370,000 property deeds, collectively worth $240 billion, onto Avalanche’s blockchain over five years.
Another development? Solv launched SolvBTC.AVAX in May, a yield-bearing Bitcoin token backed by tokenized U.S. Treasuries and private credit assets, including BlackRock’s BUIDL and Hamilton Lane’s SCOPE.
Traditional finance is also showing signs that it is warming up to AVAX as an investable asset. Crypto News Flash reported that VanEck registered a “VanEck Avalanche ETF” trust in Delaware this March, and Nasdaq has since filed a 19b-4 application to list the Exchange Traded Fund.
If an AVAX ETF gets approval, we could see AVAX push past its current price of $19.56 and surge to $30.
Stellar (XLM) rounds out the top three, proving its staying power through a focus on cross-border payments and token issuance, two critical pillars of RWA adoption. The network recently experienced a price rally of 21.61% in the past week and 11% in the past day, coming close to $0.35 as it trades at $0.29.
This is driven by the release candidate of Stellar Core v23.0.0rc2, which is meant to improve the network’s scalability. Stellar’s stablecoin ecosystem is hitting new highs, with $667 million in supply backed by big names like Franklin Templeton and Circle.
In June alone, the network saw 197 million on-chain operations, a clear sign that its role in the RWA space is becoming more significant.
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