BNB Chain tokenized stock trading volume hits $25.6 billion

BNB Chain experienced significant growth in its tokenized stock market during the third quarter, with trading volume reaching approximately $25.6 billion. This represents an nearly 11-fold increase from the previous quarter's $2.4 billion.

Decentralized exchange (DEX) trading accounted for $24.4 billion of this volume, while Ondo Global Markets contributed $1.2 billion. In comparison, Robinhood Chain recorded $10.2 billion and Solana recorded $6.4 billion in DEX trading volume for the same period. The growth was largely driven by the launch of bStocks in June, specifically through the QQQB token, which tracks the Invesco QQQ ETF. Reports indicate that QQQB accounted for approximately 80% of bStocks DEX trading volume.

The total supply of tokenized stocks on BNB Chain reached $1.13 billion by the end of the quarter, doubling from $560 million at the end of the second quarter. This supply represents roughly 39% of the total tokenized stock supply across tracked blockchains. While trading volume has surged, analysts note that high concentration in specific products like QQQB and the distinction between trading volume and new capital inflows are important factors for market evaluation.