Blockchain analytics company Dune has introduced real-time market data feeds covering more than 200 onchain trading venues, seeking to make decentralized-market activity easier for institutional investors and traditional financial firms to monitor.
The service delivers standardized trade information from 12 blockchains, including Ethereum, Solana, Base and XLayer, approximately one second after a transaction is executed. According to Cointelegraph, the feeds include spot trades on decentralized exchanges and perpetual futures activity on Hyperliquid and Lighter.
The data is organized around information such as prices, transaction sizes and execution details. That format is designed to help professional trading organizations compare activity across venues and blockchains rather than assess each market through separate, inconsistent data sources.
Institutional users look for clearer market data
Dune co-founder and CEO Fredrik Haga said quant funds, market makers, asset managers and bank trading desks are among the first users of the service. He did not identify the firms, citing nondisclosure agreements.
Dune said these clients are using the feeds to examine liquidity, compare prices between venues and test trading strategies before allocating capital. Haga said institutions are increasingly monitoring onchain markets because they need that information to value assets traded in those markets.
The challenge is particularly significant when the same asset is available across multiple venues and blockchains. Differences in liquidity, prices and trading conditions can make it difficult for institutions to form a complete view of the market. Haga said he expects direct institutional onchain trading to develop as liquidity improves and regulatory rules become clearer.
Tokenized stocks add pressure to fragmented markets
Dune’s launch comes as tokenized stocks expand. Tokenized stocks are blockchain-based representations of shares or stock exposure, allowing trading activity to take place through onchain infrastructure. The growth has also brought questions about fragmented liquidity and whether companies should be able to object to the use of their shares on proposed platforms.
A recent example involves OKXICE, a joint venture between crypto exchange OKX and Intercontinental Exchange, the parent of the New York Stock Exchange. The venture announced a tokenized-stock trading platform on Oct. 4. Since then, 16 companies, including Microsoft, Alphabet and Goldman Sachs, have objected to having their shares traded on the proposed platform. The companies did not state their reasons.
Market fragmentation is another concern. Tiger Research director Ryan Yoon warned in May that trading the same tokenized stock across several blockchain platforms could lead to price differences, greater slippage and less efficient markets.
RWA.xyz data cited in the report puts the distributed value of tokenized stocks at $3.58 billion, compared with about $627 million a year earlier. That represents an increase of roughly 470%.
Moneyiar market picture
Moneyiar data at the stated times show sharp differences among the listed assets:
- RealLink (REAL) was priced at $0.0100747766 on Sept. 15, 2026, down 86.56% over 24 hours and 86.35% over seven days.
- Data Network (DATA) stood at $0.1492626469 on Oct. 22, 2026, down 4.92% in 24 hours and 21.63% over seven days.
- REAL (ASSET) was $0.1847972829 on Oct. 20, 2026, down 1.92% over 24 hours and up 0.3% over seven days.
- Tutorial (TUT) was $0.0373206004 on Aug. 30, 2026, down 6.82% over 24 hours and 41.91% over seven days.
