Avalanche took to X on Thursday to highlight a milestone: “Avalanche is the number 2 chain by distributed RWA Value.” The claim is backed by a snapshot from RWA.xyz that paints a clear picture of how real-world assets are spreading across different blockchains, and how competitive the field has become.
According to the table, Ethereum remains head and shoulders above the rest, with roughly $11.59 billion in distributed RWA value and nearly 98% of its tracked RWA counted as distributed. Behind it, Avalanche registers about $954 million in distributed RWA, putting it a hair ahead of BNB Chain, which sits at roughly $953 million.
Blockchain RWA Landscape
The margins between Avalanche and BNB are razor thin, but Avalanche’s distributed share, 77.1%, is what the protocol used to stake its claim on the podium. The RWA.xyz data also shows an interesting wrinkle: Polygon’s total RWA value excluding stablecoins is higher than Avalanche’s at about $1.65 billion, but just over half of Polygon’s RWA is classified as distributed.
That contrast explains how Avalanche can rank second by distributed value even though its raw total (excluding stablecoins), about $1.24 billion, is smaller than Polygon’s. Solana and Arbitrum round out the top six, each showing hundreds of millions in distributed RWA and, in the case of Solana and Arbitrum, a full 100% distribution for the items counted.
For Avalanche, the tweet is a succinct way to spotlight growing traction in a market that’s still settling on standards for tokenizing mortgages, invoices, corporate debt and other real-world financial instruments. The difference between “total RWA value” and “distributed RWA value” matters: projects and platforms can list large pools of assets on a chain, but distributed value reflects the portion that’s actually been put to work or tokenized in a way that’s operational on the network.
Taken together, the figures serve as a reminder that while Ethereum remains the dominant hub for tokenized assets, other chains are making serious inroads. Avalanche’s second-place positioning, even if by a narrow margin, signals rising competition and continued interest from institutions and builders looking to bridge traditional assets into decentralized rails.