Tokenized stocks on Base hit $100 million in a single day, Token Terminal says
@tokenterminal reported that tokenized stocks on Base set a new daily decentralized-exchange volume high of $100 million. Thirty-day volume reached $730.9 million, with Aerodrome accounting for $557.1 million (76%) and Uniswap v4 $139.3 million. 
@jessepollak , who built Base, said the chain went from zero to $100 million in daily stock volume in 26 days. These tokens are live Coinbase-issued equity tokens on Base, Coinbase's Ethereum layer-2 network, not a testnet print.
Why it matters Base is now printing a full day of onchain stock trading that would have been a rounding error a month ago. That matters for anyone comparing where tokenized US equities actually trade, which DEX takes the fees, and whether Coinbase's stock tokens are being used as DeFi inventory rather than just a brokerage wrapper. The figure is a one-day high, not proof the flow will hold.
@tokenterminal Source post @jessepollak Source post @tokenterminal Source post Crypto Briefing write-upRead the context
Base is the Ethereum layer-2 network incubated by Coinbase. A layer 2 processes transactions off Ethereum's main chain, then posts them back, which is meant to cut fees and speed settlement. Coinbase Tokenized Stocks are blockchain tokens meant to be backed 1:1 by real shares and issued for eligible investors outside the United States. They use Base's B20 token standard and trade on decentralized exchanges, mainly Aerodrome, instead of a traditional stock exchange. Token Terminal's 12 September post is the primary data point for the $100 million daily high and the $730.9 million 30-day total. @jessepollak amplified it the same afternoon. A later Token Terminal post the same day said Coinbase's tokenized SpaceX stock (SPCXc) generated a record $6.6 million in DEX volume the prior day, equal to 23% of its $28.5 million total over its first nine days. That SpaceX print is part of the same onchain-equity tape, not a separate product launch. Coverage of the legal wrapper (custodian, dividends, US-person bans) is consistent across earlier Coinbase materials: these are not Nasdaq trades, and US users are generally excluded. Daily DEX volume can include speculative looping around a few names, so the $100 million high is best read as activity, not as $100 million of new long-term holders.