BNB Chain Leads $14.2 Billion Tokenized U.S. Treasury Market

BNB Chain held the largest recorded balance of tokenized U.S. Treasuries on Nov. 9, narrowly ahead of Ethereum in a market valued at about $14.2 billion.

BNB Chain held about $4.39 billion, compared with $4.31 billion on Ethereum. Stellar followed with about $1.93 billion, while Solana held about $1.91 billion.

Ethereum’s balance was roughly 52% below its May 11 peak of about $8.92 billion. The 52% figure compares Ethereum’s balance on Nov. 9 with that earlier peak.

The market had a separate ranking by issuing platform. Franklin Templeton Benji held the largest share at 22.7%, followed by Ondo at 21.9%, Circle at 14.8% and Securitize at 13.2%. Together, those four platforms accounted for 72.6%.

Kinexys held 6.3%, WisdomTree 4.8%, Libeara 4.6% and Superstate 3.1%. These percentages describe issuing-platform shares, while the network balances show where the tokenized Treasuries were recorded.