In September, tokenized stocks accounted for an average of 11% of trading operations on decentralized exchanges (DEX), while the share of meme cryptocurrencies was 17%. This indicates that traditional stocks are starting to absorb some of the trading activity that was previously concentrated on memecoins. The share of tokenized stocks on DEX remained close to zero until mid-2026, after which it began to grow. At the end of July, tokenized stocks briefly surpassed memecoins, and in September their share reached 11%.
Meme coin trading is losing intensity: their share on DEX fluctuated between 6% and 53% throughout 2025, and then cooled down to 17% in September. According to experts, "the on-chain economy is evolving from its roots in crypto-assets to a broader financial network where crypto and traditional assets are traded within shared, continuously operating frameworks." The share of tokenized stocks on DEX increased against the backdrop of the growing tokenized stock market, which reached a market capitalization of over $3 billion in the last week of September. Reports indicate that tokenized stocks have become the fastest-growing category of real-world assets (RWA) in 2026. As of mid-September, approximately $1 billion, or 34% of the total market volume, was placed on the BNB Chain.
On-chain transactions of tokenized stocks also showed growth: trading volume increased from $6 billion in the first quarter to over $100 billion in the third. There is growing interest in tokenized stocks within DeFi protocols, which has raised their deposit metrics over the past year. Data for October will reveal whether the share of tokenized stocks can remain in double digits and once again challenge memecoins on DEX.
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