External ReportingYayınlandı 20 dakika önce

Tokenized Equities Drive Changing of the Guard in Crypto, as BNB and SOL Outpace BTC

Publisher finance.biggo.com 5 dk okuma

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Market Context

Bitcoin

BTC

$62,963

-0.73% 24h

SOL$75.54-0.88%

Layer Index

Neutral

Layer Index

↓ 1 pts in 24h

As U.S. equities notched record highs on cooling inflation, demand for tokenized real-world assets (RWAs) has accelerated rapidly across the crypto market, with BNB and Solana (SOL) leading gains among the top 10 cryptocurrencies by market capitalization. While legacy majors Bitcoin (BTC) and Ethereum (ETH) declined, capital has concentrated in blockchain ecosystems with strong ties to tokenized equities—a dynamic that has become increasingly pronounced.

U.S. stocks rallied on August 13 after the July U.S. Producer Price Index (PPI) came in flat month-over-month, below market expectations for a 0.2% increase. The reading reinforced the view that the U.S. Federal Reserve is unlikely to resume its rate-hiking cycle. The S&P 500 closed at a record 7,798.99, up 0.65% on the day, after touching an intraday high of 7,816.70. Combined with the prior week's sharply weaker-than-expected U.S. nonfarm payrolls (NFP) report and an in-line U.S. Consumer Price Index (CPI) print, market expectations around monetary policy have tilted decidedly more dovish.

The improving macro backdrop has spilled over into digital asset markets. However, the gains have been concentrated in blockchain ecosystems with deeper exposure to tokenized RWAs rather than in BTC and other legacy majors. According to CoinMarketCap data, BNB traded around $610 as of August 14, up 3% on the week. SOL gained 5%, the strongest weekly performance among the top 10 cryptocurrencies by market cap. By contrast, both BTC and ETH declined over the same period.

Tokenized Equities Market Surges, BNB Chain Holds Top Spot

The rotation into BNB and SOL coincided with rapid expansion in the tokenized equities market since the start of August. According to Token Terminal data, BNB Chain commands a 33.6% share of the tokenized equities market, remaining the largest blockchain in the space. Ethereum followed at 27.8%, with Solana at 22.1%.

Per RWA.xyz, the distributed value of tokenized equities has surpassed $2.5 billion (approximately ¥400 billion). As investors rotate back into U.S. equities on the improving macro environment, the figure has grown by more than $300 million (approximately ¥48 billion) in roughly two weeks.

Key metrics for the tokenized equities market all point to rapid expansion:

Metric	Value	30-Day Change
Monthly transfer volume	$22.32 billion (approx. ¥3.6 trillion)	+162.6%
Monthly active addresses	493,440	+16.1%
Total holders	1.18 million	+117.9%

Note: Data from RWA.xyz as of August 14, 2026.

The highest on-chain equity transfer volumes over the past month occurred between August 1 and 7, with daily volumes ranging from $2 billion to $3 billion. During the same period, the S&P 500 was also climbing, buoyed by strong earnings from major technology companies.

According to TradingView correlation data, the 30-day correlation coefficient between BNB and the S&P 500 has surged from 0.29 in early August to 0.85. Meanwhile, BTC's correlation coefficient remains low at around 0.11, and ETH sits at -0.18, indicating a slight negative correlation. This data suggests that the growing adoption of tokenized equities may have provided a meaningful tailwind for BNB and SOL.

Grayscale Inclusion and Network Upgrades Bolster BNB

BNB's market-leading performance has also been supported by a series of institutional developments and ecosystem advances throughout August that have improved investor sentiment.

Grayscale Investments announced on August 5, as part of its Q2 2026 portfolio rebalancing, that it had added BNB to the Grayscale Smart Contract Fund for the first time. The change gave BNB a 30.6% weighting, slightly ahead of ETH at 29.47% and SOL at 29.15%, making it the fund's largest holding at the time of inclusion. As of the August 13 close, the fund's assets under management (AUM) stood at $1.53 million (approximately ¥200 million), with BNB's weighting rising to 31.07%.

The addition of BNB by Grayscale—one of the world's leading digital asset managers—underscored BNB's growing presence in institutional-grade products. Following the announcement, BNB broke above $585, a level that had served as resistance for several weeks, and established stable support above it.

On the technical front, BNB Chain announced on August 7 that it had validated BEP-675 on the BSC testnet, improving throughput by 88% from 1,237 transactions per second to 2,324. The upgrade marks another milestone for the BNB Chain ecosystem as it seeks to enhance network scalability to support growing demand for tokenized assets and decentralized finance (DeFi) applications.

Investor expectations were further lifted on August 11 when Binance posted a cryptic teaser on its official X account reading simply "Continue to X." While Binance did not disclose additional details, speculation swirled around a potential integration with X, and BNB rose 2.9%—its largest single-day gain since the start of August.

Technical Indicators Point to a Retest of $620

Following the recent rally, BNB is consolidating around $610, though technical indicators suggest the broader uptrend remains intact.

The Donchian Channel continues to trend upward, with the trading range steadily climbing. The upper band now sits near $619.77, the midline at $590.80, and the lower band at $561.83. The rising support levels across the channel indicate that buyers are absorbing selling pressure without significant price declines, even amid profit-taking.

Since breaking above $580 in early August following the U.S. jobs report, BNB has consistently held above the psychologically important $600 level. This suggests buyers are actively stepping in on even minor pullbacks.

Momentum indicators also remain tilted bullish. The MACD maintains a bullish crossover, with the MACD line at 9.11 clearly above the signal line at 6.87. While the positive histogram has begun to flatten, it still indicates that buying momentum outweighs selling pressure.

If bullish catalysts further strengthen demand tied to U.S. equity trading on BNB Chain, the immediate resistance lies near the Donchian Channel upper band at $620. A decisive break and hold above this level could open upside toward the next psychological resistance around $640. On the downside, $600 serves as initial support, followed by the Donchian Channel midline near $591.

However, if BTC and ETH fail to hold their respective key levels at $62,000 and $1,850, bearish sentiment could spill over into major altcoins including BNB—a pattern frequently observed during significant crypto market corrections in the past.

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