Public Equities Dominate RWA Perpetual DEX Trading Volume in Q3

RWA perpetual DEX trading volume reached $365 billion in Q3 2026, up 32% from the previous quarter. Public equities generated nearly half of the activity, accounting for $175 billion or approximately 48% of the total.

The strong start to the quarter was tempered by two consecutive monthly declines in August and September, but the full quarterly total still exceeded expectations. July's record volume of $141 billion set a high bar for Q3, and while volumes did fall, they remained robust enough to propel the quarterly total above previous levels.

The growth in RWA perpetual trading activity was driven by public equities, which have become the largest category in this space. Tokenized stock market capitalization reached $3.5 billion, with BNB Chain hosting around $1 billion, or approximately 28% of the total.