This is the weekly edition of RWA Activity on the Terminal, a joint report from RWA Foundation and Token Terminal. It tracks growth over the past 7 days in two measures, market cap and asset holders, across three categories: stablecoins, tokenized funds and tokenized stocks. Each is broken down by issuer and by chain.
All figures are taken strictly from Token Terminal as of October 19, 2026. Growth figures cover the 7-day window from October 12 to October 19. No third-party data has been added, and no figures have been adjusted or estimated.
Market cap refers to circulating asset market cap and holders to the number of addresses holding an asset, both as reported by Token Terminal. Each chart shows the top 10 issuers or chains listed by Token Terminal, and any totals are sums of those entries only.
01Overview
USDD led stablecoin market cap growth with $180.3 million, and Arc and Stellar led by chain. Tether added about 1.7 million holders and BNB Chain about 1.3 million, the largest holder gains in the report.
In tokenized funds, Spiko led both market cap (+$86.4 million) and holder growth (+496), and Ethereum added the most market cap by chain. In tokenized stocks, Binance bStocks and BNB Chain took almost all of the market cap growth, while Ethereum, Solana and Arbitrum One declined. Solana still added the most tokenized stock holders, about 92,700.
02Stablecoins
USDD added $180.3 million in stablecoin market cap, about 40% of the $449.1 million added across the top 10 issuers. Sky (+$86.0 million) and Falcon Finance (+$64.7 million) followed, then Open Standard (+$36.3 million), United Stables (+$22.8 million) and SoFi (+$21.3 million). Agora (+$13.2 million), Arcus (+$9.8 million), M^0 (+$7.4 million) and Real Asset Acquisition (+$7.3 million).
By chain, Arc added $157.8 million and Stellar $119.1 million, about 71% of the $388.1 million across the top 10. Sui (+$32.2 million), Algorand (+$23.3 million), TON (+$20.0 million) and Aptos (+$19.2 million) followed. Robinhood Chain added $10.4 million, with Celo (+$2.8 million), World Chain (+$1.7 million) and Injective EVM (+$1.6 million).
Tether added about 1.7 million holders and Circle about 386,300. Together they account for about 97% of the holder growth across the top 10 issuers. Paxos (+18,900) and Phantom (+18,100) followed, then Unity USD (+10,700), United Stables (+4,400), Sky (+3,100), Ripio (+2,100), Polymarket (+1,800) and Open Standard (+1,100).
By chain, BNB Chain added about 1.3 million stablecoin holders, about 61% of the growth across the top 10. Tron (+248,400) and Celo (+211,700) followed, then Base (+120,600), Ethereum (+96,300) and Arbitrum One (+75,700). Solana (+27,300), Algorand (+15,500), Robinhood Chain (+12,900) and Arc (+12,300).
03Tokenized funds
Spiko led tokenized fund market cap growth with $86.4 million. Sky (+$61.7 million), Aave (+$54.7 million) and Maple Finance (+$44.7 million) followed, then Ondo Finance (+$40.2 million) and Superstate (+$35.1 million). Re (+$22.8 million), Figure (+$14.1 million), Ethena (+$12.6 million) and Plume Vaults (+$8.6 million) completed the top 10, which added $380.9 million combined.
By chain, Ethereum added $67.1 million, about 59% of the $113.9 million across the top 10 chains. Stellar $15.1 million, followed by BNB Chain (+$8.3 million), Plume Network (+$3.6 million) and Polygon (+$1.0 million). Robinhood Chain (+$298,500), Sei EVM (+$229,600), Cardano (+$184,700) and XRP Ledger (+$128,700) each added under $1 million.
Spiko also led holder growth, adding 496 holders, about 44% of the 1,139 added across the top 10 issuers. Ondo Finance (+187) and Maple Finance (+152) followed, then Sky (+76), Saturn (+56), USDai (+41), Reserve (+36), Re (+34), Inverse Finance (+31) and Ethena (+30).
By chain, Stellar added 483 tokenized fund holders, more than any other chain. Ethereum (+295) and Base (+244) followed, then Sei EVM (+129). Arbitrum One (+34), Monad (+19), Cardano (+13), Tron (+8), XRP Ledger (+6) and Fraxtal (+5) added fewer than 50 each.
04Tokenized stocks
Binance bStocks added $230.4 million in tokenized stock market cap, about 92% of the $249.3 million added by the issuers that grew. Robinhood (+$10.4 million), Coinbase (+$4.5 million) and Backpack (+$3.1 million) followed, and Shift added $866,700.
Five issuers declined. Dinari fell $423,900, Remora Markets $126,100, Tessera $71,800, stOx $56,200 and Centrifuge $47,600.
By chain, BNB Chain added $222.2 million, in line with the growth of Binance bStocks. Robinhood Chain added $11.4 million, Base $4.2 million and X Layer $433,300.
Six chains declined, losing about $66.4 million combined. Ethereum fell $32.5 million, Solana $18.1 million and Arbitrum One $13.5 million. Ink (−$1.4 million), HyperEVM (−$791,300) and Polygon (−$80,800) recorded smaller declines.
Holder growth was spread more widely. Backpack added about 54,800 tokenized stock holders, xStocks 43,300 and Binance bStocks 30,500. Ondo Finance (+12,400), Robinhood (+9,800) and Coinbase (+5,300) followed. Dinari (+423), stOx (+369), Reality (+268) and Reserve (+180) completed the top 10.
By chain, Solana added about 92,700 holders, about 59% of the growth across the top 10, even as its tokenized stock market cap fell $18.1 million. BNB Chain added 40,700 and Robinhood Chain 9,800. Base (+6,000), X Layer (+4,100) and Ethereum (+2,700) followed, then Arbitrum One (+348), Ink (+96), HyperEVM (+9) and OP Mainnet (+3).
05Conclusion
Stablecoins recorded the largest moves of the week. Tron USDD led market cap growth by issuer, Arc and Stellar led by chain, and Tether and BNB Chain added the most holders.
Tokenized fund growth was spread across issuers, led by Spiko, Sky, Aave and Maple Finance. Ethereum added the most market cap by chain, while Stellar added the most holders.
In tokenized stocks, Binance bStocks and BNB Chain accounted for almost all of the market cap growth, while Ethereum, Solana and Arbitrum One declined. Holders grew most through Backpack and xStocks by issuer and Solana by chain.
All figures are sourced strictly from Token Terminal as of October 19, 2026, and reflect the 7-day window ending on that date. This report is for informational purposes only and is not investment advice.