Report puts stock-token DEX turnover at $20.9 billion over 30 days

FXStreet reported on 28 September that tokenized stocks recorded approximately $20.9 billion in decentralized-exchange trading over the preceding 30 days. The report assigns 40.7% to Uniswap v4 and 19.4% to Uniswap v3.

Together, those reported shares exceed 60% of the measured activity. RWA Wire has not independently reconstructed the underlying dataset, so the total remains an attributed estimate rather than a verified live counter.

Turnover versus market size

A security can trade repeatedly during a month. Its trading turnover can therefore be much larger than its outstanding market value, without implying that an equivalent amount of new capital was invested.

The report identifies activity on trading venues, not the number of distinct investors or the depth available for a large order. Those are separate measurements. Keeping these distinctions visible makes the figure more useful than a headline that treats volume alone as proof of mature or uniformly liquid markets.

Sources

• FXStreet — trailing DEX-volume report