Token Terminal data put Binance’s bStocks at about $1.4 billion in market capitalization, accounting for most of a roughly $1.7 billion total that includes stock tokens tied to Robinhood and Coinbase.
Token Terminal valued Robinhood’s stock tokens at $175.7 million and Coinbase’s at $38.4 million. Market capitalization reflects reported token value, rather than the amount traded during a period.
Bitquery measured a different kind of activity in October. The blockchain data firm counted $10.3 billion in decentralized exchange (DEX) swap volume for stock and exchange-traded fund tokens from six issuers from Oct. 1-31. Robinhood’s tokens accounted for $2.61 billion of that volume, while Coinbase’s accounted for $2.49 billion.
Bitquery counted every swap, meaning a purchase followed by a sale entered its total twice. The firm estimated the Oct. 1 figure, which it said represented 4.5% of the monthly total. Its count excluded trades inside issuers’ apps and on centralized exchanges.
An earlier EconoTimes tally of token deposits in decentralized finance venues totaled $130.4 million for assets issued by Robinhood, Coinbase and Binance bStocks. That figure measures deposits in those venues, while Token Terminal’s tally measures market capitalization.
