Token funding is one of the riskiest cryptocurrency growth stories today. However, is this just another trend or the basis for something new?
I mentioned AMBCrypto previously S&P Dow Jones Indices has moved its iBoxx US Treasury Index over the Canton Network (CC), one of the clearest steps forward. The move came as token US Treasury bonds surpassed $12.6 billion.
The market capitalization of BNB Chain tokenized assets has reached a record high of $16.6 billion
The BNB Chain tokenized asset market has expanded over the past year, reaching an all-time high of around $16.6 billion! According to Token Terminal, this is more than doubled year-over-year, rising from around $4 billion to $5 billion in early 2024.
Growth accelerates until 2025, with the market capitalization initially exceeding $10 billion and then exceeding $15 billion. Tether (USDT) still makes up the largest share of the stack, but there is a broader base taking shape across names like USD Coin (USDC) and WLFi’s USD1.
The growth spreads outside the top 2
At the time of writing, Tether still leads issuance by a wide margin at $186.5 billion, while Circle follows suit at $80.0 billion. However, the fastest growth occurs at the bottom of the table.
Over the past 30 days, Ondo Finance has expanded 36.1% to $3 billion. Likewise, Maple Finance rose 25.4% to $2.8 billion, and Centrifuge rose 24.7% to $1.6 billion. Securitize also grew 14.2% to $2.7 billion.
Conversely, Tether’s growth has been almost flat at -0.1%.
Token funds reach $31.9 billion as yielding products take the lead
The token market reached $31.9 billion at press time. The growth was driven by yield-oriented products, not by traditional cash agents alone.
sUSDS was the largest fund at $6.1 billion, followed by sUSDe at $3.5 billion, USYC at $2.7 billion, and BUIDL at $2.4 billion. The next layer also seems to make sense – USDC syrup is at $1.8 billion, JTRSY is at $1.2 billion, and PAPLO is at $1.1 billion.
It’s not just stablecoins anymore. The chain’s revenue-generating products are expanding rapidly!
Final summary
- The market capitalization of BNB Chain tokenized assets has reached a record high of $16.6 billion – twice yearly!
- Token funds rose to $31.9 billion, with on-chain yielding products leading the way.
