Tokenized Stocks On-Chain Volume Surges by Over 33 Times Since January
According to Binance Research's latest report, the on-chain volume of tokenized stocks has increased by over 33 times since January. The total market value of these tokens has grown from $96.5 million in January to approximately $4 billion as of September 9th.
The report analyzed data from various sources and found that the monthly trading volume of tokenized stocks on decentralized exchanges (DEXs) had increased significantly, with some platforms experiencing a 33 times increase since January. This growth is not limited to just the market value; the average daily trading volume of these tokens has also seen a substantial rise.
The report highlighted the role of bStocks and Robinhood's tokenized stocks in driving this growth. These two platforms have together accounted for over 80% of the total DEX trading volume in August, with their combined share increasing from less than 1% in June to over 82% in August.
Binance Research also noted that the DeFi utilization rate of tokenized stocks has increased significantly, with a growth rate of over 1200% since January. The total value locked (TVL) in DeFi protocols related to these tokens has grown from $21.6 million in January to approximately $289 million as of September 9th.
The report concludes that the tokenized stock market is shifting its focus from issuance to distribution and utilization, with a greater emphasis on providing liquidity and facilitating trading activity.