Tokenized Stocks Surge to 11% of DEX Trading, Narrowing Gap with Meme Coins
Tokenized stocks are gaining traction on decentralized exchanges (DEXs), capturing 11% of DEX trading in September. This marks a significant shift, as meme coins had previously dominated the market with a 17% share. According to Binance Research, tokenized stocks briefly surpassed meme coins in late July but settled for an average of 11% in September.
The growth of tokenized stocks is not limited to their trading share. The category has crossed $3 billion in market value and saw on-chain transfers rise from $6 billion in the first quarter to over $100 billion in the third quarter. Binance Research notes that this shift represents a broader evolution of the on-chain economy, with traditional assets increasingly being traded alongside crypto-native assets.
Binance Research views the growth of tokenized stocks as a significant development, stating, 'The on-chain economy is evolving from its roots in crypto-native assets towards a broader financial network, where crypto and traditional assets trade side by side on shared, always-on rails.'