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Tokenized equities market sees rotating leaders as volume hits $25 B

Weekly tokenized equity spot volume shifted from Solana (Jan‑Jun) to BNB (Jul‑Aug) and Robinhood chain (Sep), with Base gaining share. DEX leadership moved from Raydium/Meteora on Solana to Native on BNB, then Uniswap on Robinhood chain, while Aerodrome rose on Base. Issuer share rotated among xStocks, PreStocks, Backpack, bStocks, and Robinhood. September volume reached $25 B, a 100‑fold increase from the start of the year, with overall market growth despite shifting market‑share leaders.

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