Base records $500 million in weekly trading volume as tokenized stocks gain ground
Coinbase's Ethereum layer 2 posted a half-billion-dollar week, with on-chain equities helping drive activity across its decentralized exchanges
Base, the Ethereum layer 2 network built by Coinbase, reported $500 million in trading volume for the prior week in an October 8, 2026 announcement.
A good chunk of the recent energy has come from tokenized stocks, which are blockchain-based tokens representing shares of traditional companies.
A half-billion-dollar week on Base
How the $500 million breaks down across asset types is still unclear. Tokenized stocks are a major contributor, but the precise split between those and other assets like stablecoins or native crypto tokens has not been broken out.
For context, Base hit a single-day record of $100 million in tokenized-stock DEX volume in September. The new weekly total works out to roughly five days at that record pace.
Monthly figures show the same trend. Thirty-day totals for tokenized-stock DEX volume on Base have been reported anywhere between $730.9 million and approximately $1.3 billion, depending on the methodology.
Aerodrome runs the table
Aerodrome, Base’s dominant native exchange, captured approximately 76% of tokenized-stock trading volume. Uniswap v4 took approximately 19%.
From zero to $100 million in 26 days
Coinbase launched Base-native tokenized stocks on August 24, 2026.
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Base founder Jesse Pollak pointed to how quickly the market scaled. Daily volume went from zero to $100 million in just 26 days after launch.
The tokens track well-known equities, including AAPL, NVDA, GOOGL and META. They are backed by real shares held in custody through Alpaca, a brokerage infrastructure provider.
Access is limited. The products were approved for eligible investors outside the US, so American retail traders cannot participate.
The broader Base picture
Base’s total value locked in decentralized finance hit an all-time high of approximately $6.2 billion in late September 2026.
Base has also maintained consistently high daily transaction counts.
What this means for traders and the market
Data reliability deserves attention. A 30-day range spanning $730.9 million to approximately $1.3 billion shows how much measurement methods can vary, so traders should be cautious about treating any single figure as definitive.
The next signals to watch are whether weekly volume holds near the $500 million mark, whether the asset-level breakdown becomes clearer, and whether TVL continues climbing past its late-September high of approximately $6.2 billion.