BNB Chain became the first blockchain to surpass US$ 1 billion in tokenized securities and ETFs. According to Token Terminal, the network reached US$ 1.1 billion, about 30% of a total market of US$ 3.7 billion.
The ranking today
BNB Chain: US$ 1.1 billion, about 30%.
Ethereum: US$ 828 million, about 22%.
Solana: US$ 738 million, about 20%.
The turnaround since January
In January, the sector had US$ 719 million, and Ethereum led, with about 48% of the market. Solana had 31%, and BNB Chain only 13%. Since then, the market has grown more than fivefold. In September, it rose by about 17%, from US$ 2.87 billion to US$ 3.35 billion.
Leadership also in users
A Binance Research report indicates that BNB Chain has 1.8 million addresses with tokenized stocks, about 45% of the total. The network hosts products such as Binance bStocks and Ondo Global Markets.
Why does this matter?
Tokenized stocks are digital representations of securities from traditional markets, traded on blockchain. This advancement is part of the trend to bring real-world assets to the network, known as RWAs. Competition exists: according to data released by ChainCatcher, Coinbase’s tokenized stocks on the Base network totaled $1.5 billion in DEX volume over the past 30 days.
Points to watch
The market is still small compared to traditional stock markets. Participation data changes quickly and depends on each analytics platform. Also remember that Binance Research belongs to Binance, the same company behind BNB Chain. Check the figures across more than one source before drawing conclusions.
My take
The market is real and shows a close race between networks for a new market. But leading today doesn’t guarantee leading tomorrow: in January, BNB Chain was third. Anyone following the industry should look at month-by-month developments.
Have you ever traded tokenized stocks? Comment below and follow me here to keep up with this topic.