Tokenized real-world assets (RWAs) on public blockchains grew by more than 50% in the first half of 2026 to about $34 billion, even as activity across broader on-chain cryptocurrency markets weakened, according to a report published by Binance Research.
The research arm of cryptocurrency exchange Binance says tokenized RWAs increased from about $22 billion in January to about $34 billion by mid-July, driven by rapid growth in tokenized stocks and private equity, which rose 177% and 164% year-to-date, respectively.
The report attributed the expansion to improving regulatory clarity and wider distribution of products including bStocks, xStocks and Ondo Global Markets. Binance Research projected the tokenized RWA market could reach $661 billion under its base-case scenario and $1.6 trillion in a bullish scenario.
Binance Research said BNB Chain emerged as the largest blockchain for tokenized equities during the first half of the year. Tokenized equities on the network grew from $34 million at the start of the year to $652 million in July, overtaking Ethereum and accounting for nearly one-third of the on-chain market.
Monthly trading volume for tokenized stocks exceeded $4.5 billion in July, representing about 83% of the market, while BNB Chain’s tokenized RWA market capitalization rose 107%, increasing its share of the overall on-chain RWA market from 9.8% to 13.5%, the report said.
The report also found Ethereum network usage rose about 50% during the year, while annual revenue is projected to decline 53%.
Binance Research said that after Ethereum raised its gas limit to about 60 million, average gas prices fell 75% from 2025 levels. Lower transaction fees outweighed higher network throughput, widening the gap between blockchain usage and revenue generation.
However, Solana’s network REV fell from US$40M in January to US$14M in June, a 64.5% decrease. “Memecoins still represent 25% of Solana DEX volume, but tokenized equities reached 4% in June,” the study says.
It highlights that Total value locked (TVL) fell 38.7% in H1, 9.0 percentage points more than the broader crypto market, while active loans declined 38.0%, with the sharpest deterioration coming in April, coinciding with major cyber security exploits that weakened confidence in supplying on-chain liquidity.
Cryptocurrency-related losses from cyber hacks and exploits fell to $972 million in the first half of 2026 from $2.3 billion a year earlier, despite the number of security incidents rising to a record 207 from 83. “Revenue remained concentrated in apps that controlled execution, leverage or collateral, with the strongest areas of activity concentrated in DEXs and lending products,” says the report.
Nearly 60% of losses were linked to two operational failures involving Drift and KelpDAO, indicating that a small number of infrastructure-related breaches accounted for most of the financial damage, Binance Research said.
However, prediction markets expanded during the period, with monthly notional trading volume rising 86% to $51.6 billion in June from $27.7 billion in January, driven by trading linked to the FIFA World Cup, the report said. “The World Cup accelerated prediction market adoption, but the increase was not confined to sport. With the two platforms accounting for 92% of June volume, H2 will test whether tournament-driven demand can be retained and whether regulation and settlement integrity can support a broader, more durable market,” the study noted.
Kalshi and Polymarket accounted for 92% of prediction market trading volume in June, while non-sports trading volume increased 136% year-to-date, suggesting World Cup activity also boosted broader market participation.
“The next phase will depend on whether secondary liquidity and collateral mobility develop as quickly as primary issuance,” Binance Research said in the report.
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Faustine Ngila is the AI Editor at Impact Newswire, based in Nairobi, Kenya. He is an award-winning journalist specializing in artificial intelligence, blockchain, and emerging technologies.
He previously worked as a global technology reporter at Quartz in New York and Digital Frontier in London, where he covered innovation, startups, and the global digital economy.
With years of experience reporting on cutting-edge technologies, Faustine focuses on AI developments, industry trends, and the impact of technology on society.
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