According to data from Token Terminal on November 10, the total market value of the tokenized stock market reached approximately US$4.8 billion, a record high, an increase of more than 640% from US$645 million at the beginning of the year. Among them, Binance bStocks ranked first with a market share of 31.4%, with a market value of approximately US$1.5 billion; Ondo Finance and xStocks ranked second and third with 29.1% and 22.2% respectively, and the three together accounted for approximately 82.7% of the market share. According to Binance Research, on-chain transfers of tokenized stocks exceeded $100 billion in the third quarter of 2026, more than 16 times the roughly $6 billion in the first quarter. To date, bStocks’ cumulative trading volume has exceeded $45 billion, and the cumulative amount converted between stocks and tokens at a 1:1 ratio has reached $7.5 billion.
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Binance showed greater nearby Bitcoin buy-order value than OKX in one November 10 sample, leaving persistent liquidity unproven. Read the full story on CryptoSlate Understand the crypto stories that matter and what to watch next. Get The Catalyst in your inbox