A new report from DWF Labs said the total market capitalization of tokenized stocks reached $3.8 billion in the week ended Oct. 5, up 483% from $654 million in the week ended Jan. 5. The report shows the issuer landscape has shifted over the course of the year: Ondo Finance remained the largest player by market cap at about $1 billion, though its share fell from 56% to 26%. xStocks grew from $187 million to $954 million and accounted for 25% of the market, while Binance’s bStocks, launched in June, reached $905 million for a 24% share. Securitize stood at $290 million, or 8%, and Robinhood climbed from $20 million to $170 million after launching in July. By chain, Ethereum’s share dropped from 50% at the start of the year to 22%, while BNB Chain rose from 9% to 32% and Avalanche increased from 0% to 9%. On-chain activity also expanded, with weekly DEX spot volume rising from $45.8 million to $2.54 billion and active DeFi TVL increasing from $15.5 million on Jan. 1 to $313 million on Oct. 15, equal to about 8% of the total market cap.
DWF Labs said in a report that the total market capitalization of tokenized stocks reached $3.8 billion in the week ended Oct. 5, up 483% from $654 million in the week ended Jan. 5.
Issuer rankings shifted over the year
By issuer, Ondo Finance remained the largest with a market cap of about $1 billion, though its market share fell from 56% to 26%. xStocks grew from $187 million to $954 million, giving it a 25% share.
Binance’s bStocks, launched in June, reached a market cap of $905 million and accounted for 24% of the market. Securitize stood at $290 million, or 8%. Robinhood, after going live in July, increased from $20 million to $170 million.
Chain distribution changed
By chain, Ethereum’s share fell from 50% at the start of the year to 22%. BNB Chain rose from 9% to 32%, and Avalanche increased from 0% to 9%.
On-chain usage expanded
Weekly DEX spot trading volume for tokenized stocks rose from $45.8 million in the week ended Jan. 5 to $2.54 billion in the week ended Oct. 5.
Active DeFi total value locked, or TVL, increased from $15.5 million on Jan. 1 to $313 million on Oct. 15, equal to about 8% of the total market capitalization.
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