BNB Chain real-world assets soar 555% on institutional demand

BNB Chain’s real-world assets surged 555% in Q4 2024 as institutions tokenized funds and stocks, even as BNB’s market cap and DeFi TVL faced volatility.

Real-world assets on BNB Chain (BNB) expanded 555% year over year in the fourth quarter of 2024, driven by institutional capital inflows and stablecoin growth, according to a report by research firm Messari.

The blockchain network ranked second among all blockchains by real-world asset value at quarter-end, surpassing Solana and trailing only Ethereum, the report stated. The growth occurred despite a decline in the network’s native token price during the period.

BNB Chain’s native token market capitalization fell quarter over quarter following an industry-wide liquidation event on Oct. 11 that pressured cryptocurrency markets, according to Messari. The token had reached a record high in mid-October before declining through year-end. The token remained the third-largest cryptocurrency by market capitalization at quarter-end, behind Bitcoin and Ethereum.

Network activity strengthened during the quarter, with average daily transactions rising substantially from third-quarter levels, the report said. Daily active addresses also increased, with early October volatility causing a brief spike in activity. Excluding that surge, usage remained above third-quarter levels, indicating steady user growth, according to Messari.

Total real-world asset value on BNB Chain rose sharply from the third quarter and increased 555% from the prior year, the research firm reported.

Institutional partnerships drove the expansion. In October, BNB Chain partnered with CMB International to launch a tokenized money market fund. Ondo Global Markets subsequently added more than 100 tokenized U.S. stocks and exchange-traded funds to BNB Chain, expanding offerings beyond money market funds into equities. In November, a major institutional fund issued through Securitize expanded to BNB Chain, according to the report.

Real-world asset value remained concentrated in a small number of products. A single product accounted for the majority of total value, followed by another representing approximately one quarter, Messari stated. Other assets, including Matrixdock Gold and VanEck’s Treasury Fund, held smaller amounts. Tokenized shares of major companies represented a small portion of overall value.

BNB pivoting towards real-world assets

Decentralized finance activity slowed during the fourth quarter, with total value locked declining from third-quarter levels, the report said. Total value locked remained above year-earlier levels, and BNB Chain ranked as the third-largest network by that metric.

PancakeSwap remained the largest decentralized finance platform on the network, holding a significant portion of total value locked and controlling approximately one-third of the market, according to Messari. Its total value locked declined by a small amount, indicating user and fund retention. Other protocols experienced declines following liquidity withdrawals and reduced borrowing demand, with smaller projects affected most significantly as traders reduced risk exposure.

Stablecoin supply on BNB Chain increased during the quarter, with total stablecoin value rising, the report stated. One major stablecoin remained the largest after posting gains. Another prominent stablecoin grew substantially, aided by payment use cases and gas-fee discounts.

New partnerships expanded payment applications on BNB Chain. A payments network added support for multiple stablecoins to settle cross-border transfers on-chain and later enabled cloud-service customers to pay for services using BNB through the system, according to Messari. A new stablecoin launched in December allowing users to mint tokens using major stablecoins as collateral.

BNB Chain deployed several upgrades in 2024, including Pascal, Lorentz, Maxwell, and the ongoing Fermi hardfork, the report said. Block times decreased and transaction finality improved. Network capacity more than doubled, and gas fees fell sharply.

The protocol’s 2025 plans target approximately 20,000 transactions per second with sub-second finality, according to the report. The development team plans to integrate off-chain computing with on-chain verification to process additional transactions without performance degradation. Long-term development includes a trading-focused chain designed for near-instant confirmation, Messari stated.