BNB Chain Dominates Tokenized Equity Markets as RWAs Surge

Binance Research released its latest report on the first half of 2026, documenting trends in on-chain markets. The report found that tokenized regulated weighted assets (RWAs) grew by over 50% to reach US$34 billion.

This growth was led by BNB Chain, which captured nearly a third of on-chain tokenized equities trading volume and saw its RWA market cap increase by 107%. Ethereum usage rose approximately 50%, but chain revenue is projected to fall 53% for the full year due to higher throughput and lower fees.

The report notes that while scaling Layer 1 and reducing fees may be sufficient on their own, sustained revenue growth requires stronger product-led demand. Total crypto losses declined sharply in H1 2026, falling from US$2.3 billion to US$972 million despite a rise in hacks and exploits.