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Coinbase-issued tokenized stocks on Base cross $4 billion in DEX volume

Photorealistic trading desk with tokenized stock icons NVDAc and Aerodrome, Base network hologram, and a bold 4B USD figure.

Token Terminal said Coinbase-issued tokenized stocks on Base have crossed $4 billion in cumulative decentralized exchange volume, with Aerodrome accounting for $3.7 billion of that total. The data point was posted on Token Terminal’s LinkedIn account and later echoed by Base-focused accounts tracking the same market.

The milestone suggests that trading in the tokenized stock products has become a meaningful source of activity on Base’s DEX ecosystem, at least by volume. Token Terminal also said daily trading volume is now regularly above $100 million, while NVDAc is the largest individual token by cumulative DEX volume in the group.

Aerodrome has captured most of the flow

Within the broader set of Coinbase-issued tokenized stocks, Aerodrome has handled the bulk of the reported DEX turnover. Token Terminal’s figures put Aerodrome at $3.7 billion, leaving the rest of the activity spread across other venues and tokenized equity markets on Base.

Base Insider also highlighted a recent daily recap showing more than $100 million in 24-hour trading volume for tokenized stocks on Base, with NVDAc at $624.6 million in DEX volume. Those figures point to sustained turnover after the products’ rollout, though they do not by themselves show how much of that activity reflects organic demand versus routing or liquidity conditions on the network.

For now, the clearest takeaway is narrow but concrete: tokenized stocks on Base have moved from early-stage trading into the billions in cumulative DEX volume, and Aerodrome has been the main venue carrying that flow.