Micron Technology’s tokenized stock perpetuals just pulled off one of the most dramatic single-month surges in the short history of tokenized equities. Trading volume for tokenized MU contracts rocketed to $13.16 billion in May 2026, up from $736.21 million in April. That’s a 17x increase in 30 days.
To put that in perspective, the entire tokenized equity perpetuals market was doing $831 million in monthly volume back in July 2025. One stock is now doing nearly 16 times that figure by itself.
The bigger picture is even wilder
According to CoinGecko’s “2026 TradFi on Crypto Exchanges Report,” the total tokenized equity perpetuals market hit $34 billion in monthly trading volume in May 2026. That represents nearly 40x growth from the $831 million recorded in July 2025, less than a year earlier.
The top three most-traded tokenized equities by volume are Micron, Nvidia, and Circle (CRCL). The broader real-world asset (RWA) perpetuals market, which includes tokenized equities alongside other traditional financial instruments, reached $347 billion in volume during May 2026. The leading exchanges driving this activity are Binance, MEXC, and Hyperliquid.
