Key Insights:
- Binance bStocks captured over 85% of tokenized equity DEX volume in July as monthly trading volume surged to $8.8 billion.
- 24/7 trading and zero-fee incentives have helped bStocks pull ahead of rivals like Ondo and xStocks.
- Tokenized assets on BNB Chain hit a record $19 billion, with tokenized stocks reaching $620.4 million.
Binance bStocks recently smashed the tokenized stocks market, with the monthly volume exploding to $8.8 billion. They are now among the top tokenized assets.
Traders piled in hard as Binance, the largest crypto exchange, confirmed that bStocks has captured over 85% of tokenized equity DEX volume in July. The total volume jumped from $2.9 billion in the month before to $8.8 billion as per the latest figures.
According to Binance, tokenized stocks monthly DEX volumes remained within a similar range for months. Volumes mostly stayed below $2.5 billion, but they surged aggressively in July largely thanks to bStocks.
Binance’s bStocks Dominates Tokenized Stocks Market as 24/7 Trading Takes Off
Binance introduced bStocks in June as 1:1 tokenized U.S. stocks and ETFs that trade 24/7 on BNB Chain. Investors and traders would be able to convert real shares to tokens with zero fees, withdraw them, or throw them into DeFi. The product has scaled fast. Early tickers included heavy hitters and Circle stock under the ticker CRCLB.
CRCLB has been available since the start of the platform, giving traders direct exposure to Circle Internet Group without waiting for the traditional markets.
Most of the CRCLB stock has moved alongside the broader bStocks surge as holders get the price action of the stock plus the ability to trade when traditional markets close. In addition, this factor has brought in both crypto natives and first-time equity players.
As numbers back this dominance, Binance Research and Dune data show bStocks have driven the bulk of the July trading volumes. Competing platforms have not kept pace. Other companies like xStocks and Ondo have posted lower volumes while bStocks runs the table.
Perhaps one of the reasons could be that bStocks comes with incentives like zero maker fees on specific pairs and VIP volume multipliers.
CRCLB Rides Binance bStocks Surge as BNB Chain Tokenized Assets Hit Record $19B
Circle stock (CRCLB) traders have been taking full advantage of the 24/7 access. It has offered an edge as the largest part of the volume prints outside U.S. cash market hours.
This means that as New York closes, the tokens keep printing volumes. As a result, traders can size in or out of CRCL exposure.
Circle stock sits inside that wave as CRCLB gives crypto wallets clean access to one of the key stablecoin names. CRCLB has also shown that tokenized stocks have not been immune to crypto-style volatility.
Available market data has shown CRCLB trading around $63 recently. Earlier July data also demonstrated several sharp daily moves, including a 7.9% gain on 20 July before the token pulled back over the following sessions.
Meanwhile, tokenized assets on BNB Chain hit an all-time high of $19.0 billion in July. The surge was led by stablecoins ($14.8 billion), tokenized funds ($3.6 billion), tokenized stocks ($620.4M), and commodities ($82.5 million). While USDT remains the top stablecoin, newer entries like USD1 are growing fast.
Binance’s bStocks, especially SpaceX, lead tokenized stocks and are taking market share from Ondo Finance. BNB Chain is gaining market share across categories, particularly in stocks (now 28.4%, up from 23.2% 90 days prior) and funds.
Platform updates have also contributed to the growth. This includes expanded Token Terminal coverage of 10 new Binance bStocks (totaling 25 with a $351.8 million market cap).
Other factors include broader tracking of 5,148 tokenized assets across 47 chains and the launch of Token Terminal Research for custom institutional analysis. Continued data partnerships such as monthly Aave reports have aided the situation.
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