Token Terminal, the blockchain analytics platform known for protocol revenue metrics, has made a strategic shift toward tracking tokenized assets, launching its dedicated page in November 2025. Coverage expanded from roughly 300 to over 4,600 assets in seven months, now spanning 310 issuers across 45 chains with a total market capitalization of $345.6 billion. Stablecoins account for $300 billion, or 94% of the total, with USDT dominating at 60% market share among tracked stablecoins. By June 2026, the platform reported 270.9 million holders of tokenized assets, an adoption metric designed to be more reliable than easily inflated trading volumes or market cap figures.
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