CEXs are rolling out their own tokenized stocks one after another, which is quite a blow to third-party tokenized stock solutions without exchange backing. Although still the largest in scale for now, Ondo's tokenized stock growth has gradually stalled since June. More than half of Ondo's TVL is deployed on Ethereum, but this wave of meme stock hype doesn’t seem to have spread to Ethereum. Among the leading tokenized stock solutions today, Binance has bStocks, Kraken has xStocks, Robinhood offers a variety of meme stocks, and Reality is backed by Bitget's rToken. From another perspective, the daily trading volume of Ondo Perp, launched around Ondo's tokenized stocks, fluctuates around $150 million, but it’s still struggling in the Perp DEX space.