Crypto platforms' expansion into stock-linked products accelerated in 2026 across both derivatives and tokenized equities. CryptoQuant said monthly equity perpetual volume on centralized exchanges climbed from about $15 billion in April to nearly $250 billion in July, a roughly 17-fold increase including 56% growth from June, with Binance processing close to $193 billion, or 76% of July activity, and Gate handling about $15 billion after three straight months of triple-digit growth. Separately, RWA.xyz data showed tokenized stock holders rose to 1.31 million over the past month, monthly transfer volume jumped 179% to $23.13 billion, monthly active addresses increased 34.62% to roughly 572,000 and distributed value reached $2.38 billion. Ondo led tokenized stocks by distributed value at about $872 million, ahead of Kraken's xStocks at $557.8 million and Binance's bStocks at $521.8 million, while the gap between transfer activity and asset growth suggested frequent rotation among products rather than only long-term accumulation.