The cryptocurrency market may be experiencing a slowdown, but certain segments are thriving. Tokenized stocks and exchange-traded funds (ETFs) saw a massive surge in onchain trading volume, reaching $37 billion in the third quarter. This marks an 18-fold increase since January, according to a report by Dune Analytics released Thursday.
The data covers trading activity across more than 200 venues and 12 blockchain networks, including major platforms like OKX and Intercontinental Exchange Inc.’s tokenized stock venue. The surge highlights growing interest in hyper-speculative investments and the expanding regulatory framework supporting these assets.
Despite the broader market's sluggish performance, the demand for tokenized assets continues to rise. The report underscores the rapid adoption and integration of these financial instruments within the blockchain ecosystem.