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Ondo picking up momentum on BNB Chain is showing up directly in the numbers. Tokenized equities there are up close to 10x YTD, and CRCLon already crossed $130M, which is meaningful for a single name on a newer venue. BNB Chain tends to attract more retail flow and faster rotation, so equities there behave closer to tradable assets than long-term allocations. Looks like tokenized stocks are starting to fragment by user base. Ethereum holds deeper liquidity, Solana captures flow, and BNB Chain is carving out a more trading-heavy niche.