Solana leads $348 million RWA growth, SOL holds support above $98

Solana drives real-world asset expansion

The RWA Foundation, an industry-focused organization tracking tokenized real-world assets, reported the latest figures using data from RWA.xyz. These assets represent investments such as government bonds, private credit, investment funds, and equities that are digitized and made accessible through blockchain technology.

Solana’s distributed RWA value rose 11.13% over the period, far outpacing Ethereum’s 0.77% growth and Stellar’s 5.22% gain. Meanwhile, XRP Ledger’s RWA value fell by 5.51%, and Avalanche registered a 14.06% decline.

The RWA Foundation described Solana as “leading the pack,” noting that the net increase reflects new assets issued on Solana minus redemptions and inter-network transfers during the month, rather than trading volume or transaction count.

These numbers provide insight into the blockchain’s role in the growing market for tokenized real-world assets, distinct from the total value of assets on all platforms or the more familiar decentralized finance (DeFi) total value locked metric.

Mini dictionary: RWA Foundation – An independent entity tracking the adoption, distribution, and development of real-world asset tokenization across public blockchain networks.

These shifts reflect patterns in subscriptions, redemptions, and transfers among networks, as well as changes in underlying asset values, rather than just user transactions.

SOL price outlook and technical structure

With the backdrop of rapid RWA growth, Solana’s native token SOL traded near $103. Key support levels, formed by recent Fibonacci retracement points, have converged between $99.14 and $102.50, giving traders a clear zone to monitor for the next move.

Analysts at More Crypto Online highlighted that SOL remains in a corrective phase, with recent price action bouncing off the $98 level. The technical structure is described as an overlapping three-wave formation, part of an Elliott Wave corrective pattern rather than the start of a new bullish cycle.

RWA Foundation called Solana’s performance “leading the pack,” as the chain drew $348 million in new distributed real-world assets over the past 30 days, outpacing competitors and highlighting its growing presence in the tokenized assets market.

According to this interpretation, SOL could experience a rebound above the September 3 high before another drop completes the corrective pattern. Major resistance remains at $110, with a deeper supply zone identified between $146 and $152.

The immediate risk is a decisive drop below $90, which would invalidate recent bullish setups. Maintaining support above $98 is seen as crucial for bulls hoping to preserve the upward momentum from earlier this year.

Prominent trader TraderSZ reported increasing long positions in SOL but emphasized the need for the price to stay above $90 to keep the bullish structure intact. He also marked the previous quarter’s high near $98.39 as the key level to defend in the short term.

More Crypto Online suggested that SOL’s move remains corrective, with the possibility of an extended bounce, but a break below key support could open the door to a deeper pullback.

To challenge the next resistance at $110 and move toward the higher supply area, SOL must first establish a base above $98 and avoid further downside breaches.