#现实世界资产RWA代币化 Seeing Solana's RWA data, I am reminded of the scenes from those years. Do you remember the ICO boom of 2017? Back then, we all thought tokenization would change the financial world overnight. But what happened? Most projects vanished into thin air. Ten years have passed, and now history is knocking again, only this time it’s hitting harder.

The on-chain RWA scale on Solana grew by nearly 10% month-over-month in December, reaching 873 million, with the number of holders increasing by 18.4% to 126,000 — these are not hype numbers; they are signals of real institutional capital entering the space. Names like BlackRock’s BUIDL fund, Ondo’s dollar yield products, and tokenized stocks from Tesla and Nvidia all carry weight.

Let me put it this way: Ethereum’s RWA went from a few tens of millions to hundreds of billions over a full cycle. Now, Solana is following the same path, but the timeline has been significantly compressed. If the CLARITY bill truly passes in 2026, and Western Union chooses Solana for stablecoin settlement, this will no longer be just a financial experiment — it will be genuine infrastructure development.

However, I’ve also seen too many stories where "this time is different" ends up the same. The real test isn’t in the impressive growth numbers but in whether it can withstand the next bear market. Now the question is — will institutions, this time, like retail investors back then, exit collectively at the high points?