Tokenized stocks have emerged as a significant force in decentralized exchange trading, averaging 11% of DEX volume in September, according to Binance Research. Over the same period, meme coins accounted for 17% of trading activity, marking a notable shift in market composition.
The data suggests that traditional financial assets are increasingly capturing trading activity that meme coins previously dominated on decentralized platforms.
Rapid Growth From Negligible Levels
Tokenized stocks held virtually no share of DEX trading through 2025 and remained near 0% for most of the first half of 2026. The category began climbing in late July, briefly surpassing meme coins before settling at an 11% average in September.
Meme coin trading, by contrast, demonstrated greater volatility. DEX share for meme coins swung between 6% and 53% during 2025 before declining to a 17% average by September.
Binance Research characterized the shift as part of a broader evolution: "The on-chain economy is evolving from its roots in crypto-native assets towards a broader financial network, where crypto and traditional assets trade side by side on shared, always-on rails."
Market Expansion Accelerates
The growing DEX presence reflects expansion in the tokenized stock market itself. The category crossed $3 billion in market capitalization during the fourth week of September, according to RWA.xyz data cited in the report.
This growth positions tokenized stocks as the fastest-growing real-world asset category in 2026. BNB Chain hosted approximately $1 billion, or 34% of the total tokenized stock market, as of mid-September.
On-chain transaction volume for tokenized stocks surged significantly. Including trades, transfers rose from $6 billion in the first quarter to more than $100 billion in the third quarter. DeFi protocols have also integrated tokenized stocks, drawing increased deposits over the past year.
