Solana announced a striking figure today: the number of holders of tokenized stocks on-chain has surged to 1.5 million, up from around 300,000 in August—a fivefold increase in just two months and a new all-time high. Monthly trading volume in September was about $4.4 billion, while the market cap of outstanding tokenized stocks was around $684 million. From August 3 to October 11, incentives alone distributed about $31 million worth of stock tokens to more than 360,000 wallets, with nearly 80% going to newcomers buying tokenized stocks for the first time. But there’s a caveat: this figure counts addresses, not real people, so someone with multiple wallets may be counted more than once, and the $SOL price hasn’t risen along with it. Good-looking data doesn’t necessarily mean a rising token price. Whether the RWA narrative can translate into sustained demand will depend on whether real trading volume holds up going forward. #Solana #RWA