MUUB, issued by BTech Holdings Limited, is a tokenized certificate over shares giving holders economic exposure to a leveraged single-stock U.S.-listed exchange-traded fund, offered under Binance's bStocks product. [S1]

Each MUUB token tracks the live price of the Direxion Daily MU Bull 2X Shares (MUU), a U.S.-listed exchange-traded fund that seeks daily investment results, before fees and expenses, of 2x the daily performance of Micron Technology, Inc. (MU) common stock; MUUB is therefore a claim on this fund's price, not on Micron shares directly. [S1] Because the fund's 2x exposure resets each trading day, its return over any period longer than a single day can diverge meaningfully, in either direction, from twice the period return of Micron stock due to daily compounding, particularly in volatile markets; MUUB inherits this same daily-reset behavior since it tracks the fund's price 1:1. [S1] The underlying fund share is held with a regulated custodian, and holders convert between it and MUUB at a 1:1 ratio with zero conversion fees, except during corporate actions or platform maintenance. [S1]

MUUB is issued by BTech Holdings Limited, a Binance group affiliate, through an Approved Prospectus in the Abu Dhabi Global Market (ADGM), following approval by the Financial Services Regulatory Authority (FSRA). [S1] As a Certificate representing certain Financial Instruments under paragraph 92, Schedule 1 of the Financial Services and Markets Regulations, MUUB does not represent direct ownership of the underlying fund and carries no affiliation with its issuer, Direxion, or with Micron Technology, Inc. [S1] Access is limited to eligible non-U.S. users on a secondary-market basis, with conversion to and from the underlying fund share executed through broker-dealer Nest Trading Limited. [S1]

MUUB is issued as a BEP-20 token on BNB Chain (BNB Smart Chain), compatible with BNB Chain wallets and onchain applications, with minting and redemption governed by the issuer's bStocks Minting and Redemption Product Terms. [S1]

<Sources
  retrievedAt="2026-07-28"
  items={[
    { id: "S1", url: "https://www.adgm.com/financial-services-regulatory-authority/listing-authority/official-list-of-securities" },
  ]}
/>


# Asset transfer count methodology

## 1. Overview

Asset transfer count is defined as the number of user transactions that move assets between addresses. It is utilized to reflect how frequently assets are used for payments, trading, or other onchain activity. The metric is calculated daily for each tracked asset across all supported blockchains. By aggregating these transfer events, a comprehensive view of onchain utility and transactional velocity is provided.

## 2. Data sources

- **EVM chain events**: ERC-20 token transfers, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: SPL token transfers
- **Other blockchain events**: Token transfers, withdrawals, and mint events across non-EVM chains (Solana, Aptos, Near, Polkadot Asset Hub, Stellar, and others)
- **Asset metadata**: Token addresses and decimal precision

## 3. Step-by-step calculation

### Component A: Extract and count raw transfer events

- **Purpose**: Identify and count individual token transfer events on a daily basis for each asset.
- **Logic**: On EVM-compatible chains, ERC-20 token transfers are parsed and counted. On Solana, SPL token transfers are parsed and counted. On Aptos, Near, and Ripple, token transfers and withdrawals are parsed and counted. On Stellar, classic token withdrawals and Soroban token transfers are aggregated. On Sui, token withdrawals and token mint events are aggregated. On Cardano, UTXO withdrawals and token mint events are aggregated. On Polkadot Asset Hub, `Transferred` events from the `assets` pallet are parsed.
- **Key fields**: `token_address`: The unique identifier of the token contract or asset. `block_timestamp`: The timestamp of the transaction block.

### Component B: Daily aggregation and zero-filling

- **Purpose**: Aggregate the daily transfer counts per asset and ensure continuous time-series data.
- **Logic**: The extracted transfer counts are aggregated daily for each token address on its respective chain. For days where no transfer activity is recorded for a tracked asset, the time series is filled with zero values to ensure a continuous daily record.
- **Key fields**: `timestamp`: The day of the activity. `asset_transfer_count`: The daily count of transfers per token on a specific chain.

### Component C: Final aggregation

- **Purpose**: Combine the daily transfer counts across all supported chains for each asset.
- **Logic**: The daily transfer counts from all individual chains are combined. Token addresses are mapped to unique asset identifiers using asset metadata. The final daily asset transfer count is then aggregated across all chains for each asset.
- **Key fields**: `timestamp`: The day of the activity. `asset_transfer_count`: The total aggregated daily transfer count for the asset.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Number of transfer transactions involving the asset.

Asset transfer count

Tokenized stocks

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Real-world asset (RWA) issuers

Binance bStocks

Direxion MU Bull 2X ETF (bStocks Tokenized Stock) (MUUb) is a token tracking the underlying shares, backed by dedicated collateral and issued by Binance bStocks through Btech Holdings Ltd and distributed through Binance with Alpaca Securities LLC as broker.

Each token tracks one underlying share, entitles holders to dividends, which are distributed as additional tokens, carries no voting rights, and carries an annual fee of 0%.

The collateral assets are held by Alpaca Securities LLC.

Residents of the United States and jurisdictions under applicable sanctions cannot mint or redeem with Binance bStocks.

Btech Holdings Ltd is incorporated in the United Arab Emirates, is regulated in Abu Dhabi's ADGM, and is supervised by the Financial Services Regulatory Authority.

Holder terms are governed by the law of the United Arab Emirates.

MUUb has been issued on BNB Chain as an ERC-20 token since July 2026.

Direxion MU Bull 2X ETF (bStocks Tokenized Stock)MUUb