Tokenized Stocks Eat Meme Coins' Lunch, Snag 11% of DEX Pie 🍰

Tokenized stocks averaged 11% of decentralized exchange trading in September, narrowing the gap with meme coins to six percentage points, according to a Binance Research report. Meme coins averaged 17% over the same period, down from swings between 6% and 53% during 2025. The report states that "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."

Tokenized stocks held close to a 0% DEX share through 2025 and for most of the first half of 2026 before climbing. In late July, the category briefly passed meme coins in DEX share before averaging 11% in September. The shift comes as the broader tokenized stock market crossed $3 billion in market capitalization during the fourth week of September, based on RWA.xyz data cited in the report, making tokenized stocks the fastest-growing real-world asset category of 2026.

BNB Chain hosted about $1 billion, or 34% of the tokenized stock market, as of mid-September. Onchain transfers of tokenized stocks, including trades, climbed from $6 billion in the first quarter to more than $100 billion in the third quarter. DeFi protocols have also drawn in the tokens, with tokenized stock DeFi deposits rising over the past year.

Binance Research attributed part of meme coins' cooling to the rise of tokenized equities absorbing trading activity. October data will show whether tokenized stocks can sustain a double-digit DEX ratio and challenge meme coins again.