Birdeye: Solana Tokenized Equities Pass 1M Wallets in Q3 as RWA Base Reaches $4.5B

Solana's tokenized equity accounts expanded past the one-million mark in the third quarter of 2026, rising 269% from 278,784 on July 1 to 1,028,008 ¹. According to a quarterly report published by Birdeye Research on Nov. 12, tokenized stock market capitalization grew 43% to $514.8 million during the same period, led by platforms including xStocks and Backpack ¹. Decentralized exchange trading volume for tokenized equities climbed 17% quarter-over-quarter to $5.76 billion ¹.

The expansion in real-world assets occurred alongside broader user accumulation across the network, despite a sharp contraction in daily speculative activity ¹. The native token $SOL gained 54% in the quarter, climbing from $77.38 to close at a peak of $119.08 on Sept. 22, lifting its market cap to $69.9 billion ¹. However, daily SOL trading volume dropped 43% from $10.8 billion in the second quarter to $6.1 billion ¹. In contrast, wallets holding SOL grew 20.5% during the quarter to 8.38 million, while stablecoin holder wallets increased 16% to 13.07 million across a collective $15.56 billion stablecoin market capitalization ¹. At the time of writing, SOL trades at $81.43 amid broader market weakness.

Payments and Credit Expansion

Real-world adoption metrics extended into payments and onchain lending ¹. Solana card payment volume reached a record $262.7 million in the quarter, rising 17.5% from the second quarter, paced by a record $106.2 million in August ¹. Solana accounted for 13.6% of all cross-chain card volume in the period, bringing year-to-date processing to $650.4 million compared to $13.8 million during the same period in 2025 ¹. Circle's USDC retained its dominant position among payment rails, expanding its supply share to 52.9%, even as newcomers Anchorage USDGO and World Liberty Financial's USD1 grew to $1.40 billion and $1.35 billion, respectively ¹.

Solana's total real-world asset market value stood at $4.49 billion, up 28% in the quarter and 4.5 times year-over-year ¹. Tokenized treasuries formed the largest slice at $1.58 billion, supported by BlackRock's BUIDL ¹. In decentralized lending, total platform supply rose 25% to $5.15 billion, while RWA-backed collateral on Kamino reached $365 million ¹. OnRe's ONyc became Kamino's leading real-world asset collateral, surging 88% to $196.7 million ¹. Meanwhile, spot SOL exchange-traded funds added approximately $340 million in quarterly net inflows, taking cumulative total inflows to $1.47 billion ¹.