Tokenized stocks just flipped from a supply game to a utility game and most are still counting tickers.

The real alpha is in what happens AFTER issuance.

@binance Research dropped numbers that tell the story:

→ Active tokenized equity market cap: +314% YTD to $4.0B
→ Monthly trading volume: 33x in 8 months ($237M → $7.9B)
→ Turnover ratio exploded from 0.23x to 2.14x, peaked at 3.32x in July

Volume scaling 33x while supply grows 3x? That's not issuance hype. That's actual usage.

Binance bStocks data shows the shift:

→ 58.5% of early users migrated from perps/equities, not fresh retail
→ Collateral utilization jumped from 5.5% to 46.2% in months
→ DeFi TVL for tokenized equities: +1,242% YTD, mostly in LPs and lending

Stocks aren't just sitting in wallets anymore. They're collateral. They're liquidity. They're trading instruments inside a composable on-chain market.

Issuance creates supply.
Distribution brings users.
Utility keeps them locked in.

Real question: is distribution the actual moat here, not who lists the most assets?

Have you touched tokenized equities or bStocks yet? Curious where people are seeing the edge.