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- According to the latest Santiment data, Chainlink tops the developer activity chart, outpacing both Hedera and Avalanche.
- Stellar, Axelar, Centrifuge, Injective, VeChain, and the Chia network claimed the remaining spots in the top 10.
Santiment, a crypto analytics platform, recently released its ranking of the top Real-World Asset (RWA) projects based on developer activity. The post also includes directional indicators, highlighting each project’s rise or fall in position compared to the previous month.
Leading the rankings are Chainlink, Hedera Hashgraph, IOTA, and Avalanche, reflecting strong ongoing development in the RWA space. The market capitalization for tokenized real-world assets is projected to grow significantly, potentially reaching $2 trillion by 2028.
🧑💻 Here are crypto's top Real World Assets (RWA's) by development. Directional indicators represent each project's ranking rise or fall since last month:
➡️ 1) @chainlink $LINK 🥇
➡️ 2) @hedera $HBAR 🥈
➡️ 3) @avax $AVAX 🥉
➡️ 4) @stellarorg $XLM
➡️ 5) @iota $IOTA
📈 6) @axelar… pic.twitter.com/meSACLzUWu— Santiment (@santimentfeed) November 14, 2025
Chainlink (LINK)
Chainlink’s dominance in the RWA space stems from its role as a decentralized oracle network, providing essential real-world data such as bond prices, interest rates, and asset valuations that tokenized assets rely on to function accurately.
On November 14, the network announced that ApeX Protocol has integrated Chainlink Data Streams to power its new RWA Perpetuals, providing sub-second pricing data for tokenized real-world assets across Arbitrum, Base, BNB Chain, Ethereum, and Mantle.
Chainlink secures over $100 billion, supports more than 2,400 integrations, commands approximately 69.9% of the oracle market, and has facilitated over $26 trillion in cumulative transaction volume.
As featured in our recent coverage, LINK may reach $19, with a support range between $14.50 and $15. Its current price stands at $14, reflecting a 10.44% decline over the last seven days.
Hedera Hashgraph (HBAR)
Hedera Hashgraph (HBAR) announced the integration of ERC-3643 into its platform, expanding opportunities for globally compliant, cross-border asset issuance and RWA tokenization. This integration enables on-chain identity at the contract level within a modular architecture, improving global compliance and simplifying international market access by linking verified identities.
Hedera has already seen pioneering applications, including Zoniqx and One World Petroleum, which introduced the first-ever tokenized oil fund on the network. In addition, the Nairobi Securities Exchange joined the Hedera Council to accelerate tokenization in Kenya’s capital markets by October 2024 and has just launched its innovation hub.
The Hedera ecosystem now boasts a market capitalization exceeding $2 billion, over $50 million in tokenized assets, and a price of $0.1552.
IOTA (IOTA)
In October, the IOTA network launched the IOTA Trust Framework, a comprehensive toolbox designed to support multiple services. Key components include Hierarchies, the IOTA Gas Station, IOTA Identity, Notarization, and, most importantly, Tokenization.
Tokenization on IOTA enables issuers to represent physical assets, such as real estate, commodities, or invoices, directly on its ledger. A technical upgrade, IOTA Rebased, introduced the Move Virtual Machine (MoveVM), which enhances programmability, supports L1 smart contracts, and delivers very high throughput with sub-second finality.
The ShimmerEVM, IOTA’s EVM-compatible chain integrated with Fireblocks, making it easier for institutions to custody and transfer tokenized assets. Despite ranking among the top five networks for RWA development, IOTA currently sits at #96 in market capitalization, valued at $546 million with a price of $0.1322, down 8% over the past seven days.
Avalanche (AVAX)
Avalanche has shown impressive growth in the real-world asset sector, with a represented asset value of $283.97 million, and data from rwa.xyz indicate that total RWA values have recently surpassed $1.24 billion.
The Avalanche network currently supports 43 RWAs held by 7,816 holders, marking a 0.32% increase over the past 30 days. Its stablecoin market remains substantial, with a $2.35 billion market cap across 3.47 million holders, although this reflects a 5.66% decline from the previous month. Avalanche’s native token is trading at $15, down 15% from its all-time high, with trading volume at $558 million.
Much of this growth is driven by institutional adoption: Franklin Templeton launched a U.S.-registered tokenized money market fund (“BENJI”) on Avalanche, and Mirae Asset Global Investments, with over $316 billion in assets under management, signed a major MOU with Ava Labs to develop RWA tokenization products, beginning with investment funds.
