BNB Chain led tokenized-equity trading among networks tracked by Blockworks in the third quarter of 2026, posting USD 25.6 billion in transactions. By September 30, its tokenized public-equity supply reached USD 1.13 billion, while its holder count topped the report's cross-chain rankings.
Trading jumped from USD 2.4 billion in Q2, alongside gains in revenue and lending deposits. That placed third-quarter turnover at more than ten times the preceding quarter's level, based on the totals.
The results followed bStocks' June 11 launch, making Q3 its first complete reporting quarter. Yet not every network measure improved. Daily active addresses declined even as transaction counts increased, according to Blockworks' Q3 token-holder report.
Tokenized Equity Trading Surges Past USD 25 Billion
Decentralized exchanges generated USD 24.4 billion of BNB Chain's quarterly tokenized-equity trades. Ondo Global Markets contributed another USD 1.2 billion, bringing total turnover to USD 25.6 billion.
Across its tracked networks, Blockworks measured USD 45.8 billion in tokenized-asset DEX trades after excluding pairs involving memecoins. BNB Chain represented more than half that total. Robinhood Chain followed with USD 10.2 billion, while Solana recorded USD 6.4 billion.
Within bStocks trading, the tokenized Invesco QQQ ETF product, QQQB, accounted for about 80% of DEX volume. Other products included SPCXB, SPYB and NVDAB. The Native trading venue handled roughly 36% of bStocks turnover.
Activity peaked on July 26, when tokenized-asset DEX trading reached USD 1.2 billion in one day. From mid-August, weekly volume generally ranged between USD 600 million and USD 1.1 billion. One September week reached USD 2.1 billion.
Tokenized Equity Supply & Lending Deposits Expand
BNB Chain held 39% of the USD 2.89 billion tokenized-equity supply in Blockworks' dataset by September 30. Its USD 1.13 billion balance nearly doubled the USD 560 million recorded at the end of Q2.
The network also counted approximately 1.8 million tokenized-equity holders, or 38% of the tracked cross-chain total. Within its supply, bStocks products accounted for USD 810 million.
On October 22, DefiLlama put Robinhood Chain's decentralized finance deposits near USD 1.14 billion. That metric tracks funds across DeFi applications, so it cannot be directly compared with BNB Chain's tokenized-equity supply or quarterly trading volume.
Beyond equities, non-stablecoin real-world asset supply rose 24% to USD 4.96 billion. Tokenized Treasuries made up USD 3.77 billion. Meanwhile, stablecoin supply fell 4.6% to USD 13.22 billion, largely reflecting lower USD1 balances.
Lending deposits climbed 42% to USD 3.57 billion, compared with USD 2.51 billion in Q2. Outstanding borrowing increased 33% to USD 940 million. Tokenized equities deposited in lending markets rose from USD 6 million to USD 62 million, but accounted for less than 2% of deposits.
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Network Revenue Climbs as Active Addresses Decline
Did the trading surge translate into broader network activity? BNB Smart Chain processed 1.51 billion transactions, a 7.5% quarterly increase. However, average daily active addresses fell 14% to 2.10 million, while the average transaction fee reached USD 0.032.
Network real economic value reached USD 54.2 million, up 54% from USD 35.2 million. Transaction fees supplied USD 49.1 million of that total, and payments linked to maximal extractable value contributed USD 5.1 million.
Blockworks calculated token-holder net income at USD 45.1 million, a 57% increase. Its measure combines delegator rewards with BNB removed through the BEP-95 burn mechanism.
The Pasteur hard fork activated on August 25 and changed how the network builds blocks. Its BidBlock V2 system later produced roughly 98% of blocks, averaging 28% more gas per block than the previous approach.
After quarter-end, the 37th quarterly burn removed around 1.646 million BNB on October 19, worth approximately USD 1.2 billion then. An October 21 BNB Chain update put remaining supply near 131.51 million BNB. Quarterly auto-burns and BEP-95 fee burns continue toward a target of 100 million BNB.
Conclusion:
BNB Chain led Blockworks' tracked tokenized-equity market in Q3, as trading reached USD 25.6 billion and supply climbed to USD 1.13 billion. Lending deposits and network revenue also increased, although daily active addresses fell. The report showed growth in tokenized assets alongside mixed changes in broader network usage.