Tokenized Stocks in DeFi Soar to Record High
The tokenized stock market in DeFi has seen explosive growth this year, reaching $262.4 million at the end of 2023, up from just $14.66 million at the start of the year. This represents a staggering 1,690% increase, or nearly 18 times the initial value.
The majority of these tokenized equities are being used to supply liquidity, borrow against them, or chase yield in decentralized exchanges (DEXs). Uniswap V4 leads the pack with $59.5 million, followed closely by Kamino Lend at $54.1 million and Fluid Jupiter Lend at $14.2 million.
Solana remains the largest chain for tokenized stocks in DeFi, holding 36.6% of the total value, while Robinhood Chain trails behind with a significant share as well. Crypto treasury stocks lead the asset list, with Strategy's STRCx preferred stock holding $34.3 million.
The growth in tokenized equities has been accelerating over the last month, and most of it has been put to work within the last few weeks. The long tail runs deep, with 1,495 separate tokenized stock assets tracked by Token Terminal, accounting for 48.9% of the total value.