Crypto
BlockInsider Take on RWA This Week: BNB Chain Overshadows Ethereum
bStocks tops $1.3B in RWA value as BNB Chain overshadows Ethereum in tokenized stocks, while Verified Emeralds retests main support after a 75% surge.
BLOCKINSIDERLoadingbStocks tops $1.3B in RWA value as BNB Chain overshadows Ethereum in tokenized stocks, while Verified Emeralds retests main support after a 75% surge.
BNB Chain has overtaken Ethereum in tokenized stocks, as bStocks now leads the real-world asset market this week. According to BlockInsider data, bStocks at the moment holds $1.3 billion in tokenized value, well ahead of Ondo, which is at $908 million.
Ethereum still dominates tokenized commodities, however, while El Salvador leads stablecoin circulation by a wide margin.
BNB Chain has overshadowed Ethereum in the tokenized stock market this week. bStocks sits at the center of that shift. The platform now holds $1.3 billion in tokenized value.
The shift matters for the tokenized equity segment. Ethereum no longer holds the top spot there. BNB Chain has taken that position this week. Ondo is the main casualty. bStocks overtook the platform last week and has since left it behind.
Ondo now stands at $908 million in tokenized asset value.
Among individual stocks, Circle continues to lead the pack. It took over from Securitize last week. Circle now represents $357 million in value, against $246 million for Securitize. The gap between the two stands at $111 million.
SpaceX also made a notable move. Space Exploration Technologies Corp. jumped ahead of Strategy PP Variable stock in tokenized value. It now stands at $239 million.
That puts it within reach of Strategy Class A, which sits at $243 million. Only $4 million separates the two.
Ethereum still leads one sector, though. Tokenized commodities on the network total $5 billion. BNB Chain, the second largest, represents only $86 million. Ethereum's commodity value is roughly 58 times larger than BNB Chain's.
Gold and other commodities, therefore, have a home on Ethereum that is not going anywhere. The gap is too wide for a quick change. Tokenized fiat, meaning stablecoins, tells a different story. El Salvador is the biggest user at the moment. It circulates $181.9 billion in value, more than all other nations combined.
The EU follows at $70.9 billion. The US lags at a meager $10 billion. That puts El Salvador's total at more than 18 times the US figure.
Among RWA tokens, Verified Emeralds (VEREM) stood out this week. It posted a 75% rise over the last seven days. The token now changes hands at $17.33. The chart's measuring tool shows a gain of $7.43, or 75.05%, from near $9.90.
VEREM trades well above its 50-day and 200-day EMAs, which sit at $7.46 and $11.05. Still, the token is struggling to maintain its momentum. Four straight red daily candles show sellers pressing since the peak.
The October 18 spike to $30.00 left a long upper wick. That is a sign of heavy selling at the highs. The Fibonacci retracement now offers a useful map from that peak.
A bounce from $17.33 could send VEREM toward the 0.382 level at $19.56. Clearing it opens the path to the 0.236 level at $23.55. Daily candles closed beneath that zone on October 18 and 19, so it is a tough barrier.
A loss of $16.33 would shift the focus lower. The 0.618 level at $13.10 would be the next support. A deeper slide could pull the price toward the $11.05 EMA.
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