Tokenized stocks are seeing increased onchain trading activity and use as lending collateral, though they still account for a small share of the broader DeFi market. According to ChainCatcher, Token Terminal data showed that spot DEX trading volume for tokenized stocks reached $1.8 billion over the past 90 days, while lending market deposits totaled about $23 million.
Trading activity was concentrated on BNB Chain and Solana, which accounted for 47.3% and 45.5% of the 90-day volume, respectively. By asset, tokens tracking QQQ and SPY made up 40.5% and 40.4% of total trading volume. In collateral usage, xStocks represented 86.5% of issuer share, Solana accounted for 85.5% of onchain share, and Kamino held 82.6% of protocol share.
The report also noted that tokenized stocks remain small in scale compared with Uniswap's roughly $45 billion in monthly trading volume and xStocks' about $330 million in TVL.
Tokenized Stocks See Rising Onchain Trading and Lending Use, Token Terminal Says
2026-07-19 01:13:50
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