Tokenized equities are scaling rapidly, with Ondo Finance (ONDO) stocks now offering the clearest measure of the market’s expansion. The number of holders doubled in 30 days to 1.33 million, while monthly transfer volume surged 194% to $23.49 billion. Active addresses rose 41.6% to nearly 601,000. However, distributed value (TVL) grew only 4% to $2.33 billion, with Ondo Stocks accounting for $1.01 billion. Cumulative trading volume hit $27 billion, roughly 26–27 times TVL. Binance dominated weekend trading, averaging 92.8% of combined off-hours volume, while bStocks surpassed $500 million in AUM.
Tokenized equities are gaining scale, and data from Ondo Finance shows that participation and capital growth are moving at different speeds. The number of holders doubled within thirty days to 1.33 million, broadening the number of wallets with tokenized-stock exposure.
Total monthly transfer volume jumped by 194% to $23.49 billion, indicating that tokens were being transferred more often. Active addresses increased by 41.6% to almost 601,000, meaning the number of people participating in transactions has greatly increased.
Yet distributed value rose only 4% to $2.33 billion, meaning underlying holdings expanded far slower than transfers. Ondo Stocks accounts for $1.01 billion in TVL, giving its milestone greater context.
The divergence suggests current market expansion reflects rising turnover and participation more strongly than equivalent growth in capital held. That gap between capital held and activity becomes more meaningful when Ondo’s own turnover shows how frequently liquidity circulates.
Cumulative trading volume reached $27 billion, roughly 26 to 27 times TVL, indicating each dollar of current assets supports substantial secondary activity. Approximately $18 billion was traded on central exchange platforms, providing tokenized stock access to existing trading infrastructure.
Binance’s share rose to 94.4% of all combined weekend trading volumes and averaged 92.8% of all combined weekend trading volumes during approximately 350 weekend hours. This concentration coincided with bStocks surpassing $500 million in AUM and recording over $2 billion during one weekend.
Ondo still leads in absolute asset value, but Binance now holds a larger share of off-hours trading. This separates asset-based leadership from trading-volume dominance.
