Markets
Most Tokenized Cash Never Trades, Dune Finds
The Defiant·September 30, 2026·1 min read
Tokenized real-world assets reached $34.5 billion at the end of August, according to a Dune report. Tokenized Treasury funds make up half of it and turned over 0.006% of supply that month. Equities, 8% of the market, generated 93% of spot volume.
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