Tokenized stock value locked in decentralized finance (DeFi) protocols rose 1,960.8% over the past year to $247.8 million, according to Token Terminal data. Robinhood Chain held $98.2 million, followed by Solana with $87.4 million and BNB Chain with $36.3 million, giving the three networks a combined 89.5% share. Uniswap v4 accounted for $65.4 million, while Uniswap v3 and Kamino Lend held $41.8 million and $43.1 million, respectively. Binance Research attributed the broader expansion to onchain infrastructure, including lending, smart contract deployment and markets pairing tokenized stocks with other assets. Active DeFi TVL increased from $21.6 million in January to $289.1 million by September 9, while DeFi’s share of its own active market cap grew from 2.2% to 7.2%. Liquidity pools represented 65.4% of activity, lending markets 28.1%, yield tokenization 5.7% and other uses 0.8%. The broader distributed value of tokenized stocks reached nearly $2.9 billion in mid-September, according to RWA.xyz. Borrowing against bStocks increased from 5.5% of deposited collateral at the end of June to 46.2% by September 10, equivalent to roughly $3.1 million borrowed against $6.8 million of collateral. Stock-paired meme coin markets and other-token trading showed that tokenized equities are also becoming quote assets for crypto-native activity. Regulatory scrutiny around tokenized assets remains a potential influence on market dynamics.