RWA Development Activity Concentrates Around Hedera, Chainlink, and Avalanche

Development activity across Real World Asset (RWA) protocols has become increasingly concentrated, with a small group of networks clearly separating themselves from the rest of the sector.

Data covering the past 30 days of notable GitHub activity, compiled by Santiment, shows Hedera, Chainlink, Avalanche, and Stellar leading RWA-focused development by a wide margin.

This snapshot is structurally important because it reflects where engineering resources are being allocated during a period of broader market volatility, offering insight into which RWA ecosystems are being actively built rather than merely discussed.

Development Rankings Highlight Clear Leaders

Santiment’s ranking places Hedera (HBAR) firmly in first place, recording 278.17 development activity points over the last 30 days. The gap between Hedera and the rest of the field is notable, signaling sustained and consistent repository-level work rather than short bursts of activity.

Second place is held by Chainlink (LINK) with 215.37, reinforcing its role as core infrastructure for tokenized assets and data feeds. Avalanche (AVAX) follows in third at 135.13, while Stellar (XLM) ranks fourth with 110.9.

Together, these four projects account for the majority of observable RWA-focused development momentum during the period shown, forming a clear top tier.

Broader RWA Ecosystem Shows Selective Momentum

Beyond the leaders, development activity drops off meaningfully. IOTA ranks fifth with 79.1, followed by Chia Networkat 46.73. Lower down the list, VeChain (21.6), Lumerin (10.67), Creditcoin (10.2), and Injective (8.53) round out the top ten.

Santiment’s directional indicators, shown alongside the rankings, also reflect whether each project has climbed or fallen relative to the previous month. This reinforces that development leadership within RWAs is dynamic, with rankings responding to sustained code contributions rather than static reputations.

Why Development Activity Matters Here

GitHub-based development metrics do not predict short-term price movements, but they do provide visibility into longer-term commitment. In the context of RWAs, where regulatory alignment, enterprise adoption, and technical reliability are critical, consistent development often precedes real-world integration rather than speculative flows.

The current data suggests that RWA infrastructure building is not evenly distributed across the market, but instead concentrated among a small set of protocols that continue to attract developer attention even during periods of weaker sentiment.

Professional Takeaway

RWA development activity over the past month shows a clear hierarchy, led by Hedera, Chainlink, Avalanche, and Stellar. While many projects remain involved in the tokenization narrative, only a handful are demonstrating sustained engineering momentum at the repository level.

For now, the data points to focused infrastructure buildout rather than broad-based expansion, with leadership remaining stable at the top. As with all development metrics, confirmation will come not from rankings alone, but from whether this activity translates into deployed RWA products and measurable on-chain adoption over time.

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