Tokenized stocks are gaining traction on-chain, with both spot trading and lending-related collateral use moving higher, according to Token Terminal data cited by The Defiant. Over the past 90 days, cumulative spot DEX volume tied to tokenized stocks reached $1.8 billion, while deposits in lending markets stood at about $23 million. Trading activity was concentrated on BNB Chain and Solana, which accounted for 47.3% and 45.5% of the 90-day total, respectively. By asset exposure, tokens tracking QQQ and SPY made up 40.5% and 40.4% of total volume. On the lending side, usage was also highly concentrated: xStocks held an 86.5% share among issuers, Solana accounted for 85.5% of chain share, and Kamino represented 82.6% of protocol share. Even so, the report said the category remains small relative to the broader DeFi market. It compared current activity with Uniswap’s roughly $45 billion in monthly trading volume and xStocks’ roughly $330 million in TVL, indicating that tokenized equities still sit on a relatively low base in both trading and collateral applications.
Tokenized stocks are seeing increases in both on-chain trading activity and lending-related collateral use, though they still account for only a small share of the broader DeFi market, according to Token Terminal data cited by The Defiant.
The data shows that cumulative spot DEX volume for tokenized stocks reached $1.8 billion over the past 90 days. Deposits in lending markets were about $23 million.
BNB Chain and Solana dominate trading activity
By chain, most of the 90-day trading volume was concentrated on BNB Chain and Solana, which accounted for 47.3% and 45.5% of the total, respectively.
By asset type, tokens tracking QQQ and SPY represented 40.5% and 40.4% of total trading volume.
Lending collateral use is also concentrated
In lending collateral, xStocks held an 86.5% share among issuers. Solana accounted for 85.5% of chain share, while Kamino represented 82.6% of protocol share.
Category remains small relative to larger DeFi benchmarks
The report also noted that tokenized stocks remain on a relatively low base in both trading and collateral use when compared with larger DeFi benchmarks, including Uniswap’s roughly $45 billion in monthly trading volume and xStocks’ roughly $330 million in TVL.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
