On-chain RWA market cap has surpassed $65 billion, up about 44% from roughly $45 billion at the beginning of the year. Among them, Ethereum currently holds around 33% market share, remaining the primary network for institutional tokenized assets deployment. Provenance Blockchain accounts for about 27%, while BNB Chain, XRP Ledger, and Solana each hold around 6%. The report highlights that as traditional asset management institutions accelerate the push for asset tokenization, various blockchains are competing to attract institutional issuers. Additionally, RWA liquidity tends to be highly sticky—once institutions complete the deployment of tokenization infrastructure on a specific chain, the migration costs are typically high. (The Block) https://(wublock123.com)/news/news-61350