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Tokenized stock DEX volume surges as Uniswap v4 and Base activity climb

Photorealistic center-stage of tokenized stocks on blockchain with Uniswap v4 and Base logos, data streams, newsroom style.

Tokenized equities have recorded a sharp rise in decentralized exchange activity, with Binance Research pointing to a recent spike in tokenized stock trading volume on-chain. Separate figures shared by Token Terminal show that Uniswap v4 led DeFi venues in tokenized stock deposit growth over the past 30 days, while Robinhood- and Coinbase-issued tokenized stocks generated $11.4 billion in spot DEX volume over the same period.

Robinhood and Coinbase tokens drove most of the recent volume

According to Token Terminal, Robinhood-issued tokenized stocks accounted for $10.4 billion of the 30-day spot DEX volume, while Coinbase-issued tokenized stocks contributed $1.0 billion. The same post said those two issuers combined for $11.4 billion in spot decentralized exchange activity.

The data provider also said Uniswap v4 led DeFi venues in tokenized stock deposit growth over the past month, suggesting that a large share of the recent flow has been concentrated in a handful of trading venues rather than spread evenly across the market.

Base and Robinhood Chain emerged as the main venues

The volume split shared by Token Terminal places most of the activity on Robinhood Chain, which accounted for the bulk of the reported 30-day figure, while Base represented the smaller share tied to Coinbase-issued tokenized stocks. The figures point to concentrated trading rather than a broad-based expansion across many chains.

Binance Research’s analysis also describes a recent move in stock price discovery onto blockchain rails, adding another data point to the growing interest in tokenized equities as a trading format. The scale of the recent volume, however, still appears to be driven by a narrow set of issuers and networks.

That concentration matters for how the numbers are read. Strong DEX volume can reflect active trading demand, but it does not by itself show durable adoption across the wider tokenized stock market. The latest figures do, however, show that tokenized equities have become a meaningful source of on-chain activity for the venues and chains already supporting them.