BNB Chain reaches 3.6 billion dollars in RWA, but BNB price remains under pressure

The tokenization of financial assets is gaining ground on major public blockchains. In this context, BNB Chain shows strong growth in RWAs, with 3.6 billion dollars of tokenized assets. However, this momentum is not enough to support the token, whose price remains fragile after a first quarter marked by a sharp decline and a more cautious market.

BNB Chain gains ground on tokenized assets

The broader market of RWAs reached 32.62 billion dollars in mid-April. According to the Blockworks report, the network recorded a quarterly growth of 60% in tokenized real-world assets. This increase places BNB Chain among the leading public ecosystems in the sector.

The growth in RWAs is primarily driven by tokenized Treasury securities. Circle’s USYC dominates this segment with 3.15 billion dollars. Meanwhile, BlackRock’s BUIDL adds about 507 million dollars, while Ondo’s tokenized equity products contribute an additional 221 million dollars.

In this ranking, BNB Chain retains second place in dominance of tokenized assets, with 479 hosted assets. Ethereum still holds a large lead, with 16.6 billion dollars spread across about 707 assets. Solana and Stellar follow, with 2.5 billion and 2.2 billion dollars, respectively.

RWAs advance, but on-chain revenues decline

This progress has not yet translated into increased blockchain revenues. Despite the rise of RWAs, on-chain revenues reached 43.4 million dollars in the first quarter. This level represents about 39% of the 111.5 million dollars generated in the fourth quarter of 2025.

For BNB Chain, the report links this decline to reduced memecoin-related activity. After a peak in the fourth quarter, trading normalized, reducing fees generated by the network. However, the first quarter level remains close to that of the third quarter of 2025, which was 50.1 million dollars.

The network also shows strong usage signals beyond RWA use cases. The average number of daily active addresses reached a quarterly record of 2.7 million. At the same time, the retention rate of regular users stands at 70%, indicating sustained activity despite the bearish climate.

The token price remains exposed to technical pressure

On the market, the BNB price experienced a difficult first quarter. The token lost 35% between January and March, reaching 617 dollars. This decline occurred despite the quarterly burn on January 15, which removed 1.37 million tokens from circulating supply, with an estimated value of 1.28 billion dollars.

The price structure remains fragile after a significant rejection at a supply zone. Since then, BNB has been trading on an important support. A daily close at this level would confirm a possible double bottom, but the accumulation/distribution indicator continues to decline.

Finally, the total trading volume dropped to 689.56 million BNB. If weakness persists, the market could test new lower levels. Conversely, a lasting stabilization of the support would give the blockchain time to convert its RWA growth into more visible revenues.