NVDAb, issued by BTech Holdings Limited, is a tokenized certificate over shares providing price-tracking economic exposure to a U.S.-listed equity, offered under Binance's bStocks product to eligible non-U.S. users on a secondary-market basis. [S1]

Each NVDAb token references the common stock of NVIDIA Corporation (NVDA) and is backed 1:1 by a corresponding underlying share held with a regulated custodian. [S1] Holders receive price-tracking exposure to the underlying equity, and corporate actions such as stock splits and dividend-related adjustments are processed automatically to maintain continuous exposure. [S1] Users may convert between the supported underlying equity and bStocks at a 1:1 ratio with zero conversion fees, except during corporate actions or platform maintenance. [S1]

BTech Holdings Limited, a Binance group affiliate, issues NVDAb through an Approved Prospectus in the Abu Dhabi Global Market (ADGM), following approval by the Financial Services Regulatory Authority (FSRA); the tokens are classified as Certificates representing certain Financial Instruments under the Financial Services and Markets Regulations. [S1] The tokens are certificates over shares and do not confer direct ownership of the underlying stock. [S1] Access is limited to eligible users in permitted jurisdictions; users must warrant they are not U.S. persons and are not located in the United States. [S1] Tokens convert to and from the underlying equity at 1:1 through broker-dealer Nest Trading Limited. [S1]

NVDAb is issued as a BEP-20 token on BNB Chain (BNB Smart Chain), compatible with BNB Chain wallets and onchain applications. [S1] Tokens are minted and redeemed under the issuer's bStocks Minting and Redemption Product Terms, converting to and from the underlying equity at a 1:1 ratio, with automated onchain handling of corporate actions and self-custody supported. [S1]

<Sources
  retrievedAt="2026-07-02"
  items={[
    { id: "S1", url: "https://www.adgm.com" },
  ]}
/>


# Asset transfer volume methodology

## 1. Overview

Asset transfer volume is defined as the total value of assets transferred onchain. Since transaction fees are paid by users for each transfer, a correlation is typically observed between this metric and the customer demand that exists to use an asset for transacting purposes. Daily transfer volumes are aggregated across all supported blockchains, normalized by decimal precision, and converted into USD. To ensure an accurate representation of economic activity, transactions involving non-circulating treasury or premint addresses are subtracted where applicable.

## 2. Data sources

- **EVM chain events**: ERC-20 token transfers, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, Tron, Starknet, zkSync Era, and others)
- **Solana instructions**: SPL token transfers, mints, and burns
- **Aptos events**: Token withdraw events
- **Near events**: Token transfer events
- **Polkadot Asset Hub events**: `Transferred` events from the `assets` pallet
- **Cardano UTXO transactions**: Token deposits, withdrawals, and mint/burn events
- **Stellar operations**: Classic token withdrawals and Soroban SEP-41 token transfers
- **Sui transactions**: Token withdrawals and `TreasuryCap` supply changes
- **Algorand transactions**: Asset transfer transactions
- **Injective events**: Token transfer, mint, and burn events
- **Stacks transactions**: Token transfer events
- **Asset metadata**: Token contract addresses and decimal precision
- **External data**: End-of-day price feeds and fiat exchange rates

## 3. Step-by-step calculation

### Component A: Raw transfer volume extraction

- **Purpose**: Extract raw token transfer quantities from onchain events and transactions
- **Logic**: On EVM-compatible chains, token transfer quantities are extracted from ERC-20 `Transfer` events. On Solana, quantities are extracted from SPL token transfers, mints, and burns. On Aptos, Near, Algorand, Injective, and Stacks, transfer volumes are parsed from native token transfer and withdrawal events. On Polkadot Asset Hub, volumes are extracted from `Transferred` events emitted by the `assets` pallet. On Cardano, UTXO withdrawals and mint events are aggregated to capture all token movements. On Stellar, classic token withdrawals and Soroban SEP-41 transfer, mint, and burn events are parsed. On Sui, token withdrawals are combined with mint events derived from `TreasuryCap` supply changes.
- **Key fields**: `timestamp` (the day of the transfer) `token_address` (the contract or asset identifier) `amount` (the raw transfer quantity)

### Component B: Premint and preburn correction

- **Purpose**: Exclude non-circulating token movements to isolate genuine economic transfer volume
- **Logic**: For supported chains, raw transfer volumes are corrected by subtracting premints and preburns. Premints are defined as tokens minted directly into designated project treasury or premint addresses, while preburns are represented by tokens burned directly from these non-circulating addresses. On EVM-compatible chains, Solana, Injective, Stacks, and Stellar Soroban, these flows are identified by filtering transfers where the sender or recipient matches a known treasury address. On Algorand, transfers between asset configuration addresses and treasury addresses are subtracted. On Cardano, deposits to and withdrawals from treasury addresses during mint or burn transactions are netted out.
- **Key fields**: `amount` (the corrected transfer quantity) `token_address` (the contract or asset identifier) `timestamp` (the day of the transfer)

### Component C: Decimal normalization and zero-filling

- **Purpose**: Normalize token quantities to human-readable units and ensure continuous daily time series
- **Logic**: Raw token quantities are normalized by the decimal precision retrieved from the asset metadata. For days with no recorded transfer activity, the time series is filled with zero values to maintain a continuous daily record for each asset.
- **Key fields**: `amount` (the normalized transfer quantity) `decimals` (the decimal precision of the token)

### Component D: USD conversion and final aggregation

- **Purpose**: Convert normalized transfer volumes to USD and aggregate across all chains
- **Logic**: Normalized daily transfer volumes are multiplied by the end-of-day price feeds sourced from market data providers. For assets pegged to fiat currencies other than USD, daily exchange rates are applied using Chainlink FX price feeds to determine the USD-equivalent value. The final daily asset transfer volume is calculated by summing the USD-denominated transfer volumes across all active chains for each asset.
- **Key fields**: `price_usd` (the end-of-day market price of the asset in USD) `amount_usd` (the final transfer volume in USD)

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

Asset transfer volume

Tokenized stocks

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Real-world asset (RWA) issuers

Binance bStocks

NVIDIA (bStocks Tokenized Stock) (NVDAb) is a token tracking NVDA shares, backed by dedicated collateral, issued by Binance bStocks through Btech Holdings Ltd, and distributed through Binance with Alpaca Securities LLC as broker.

The underlying security is listed in the information technology sector in North America.

Each token tracks 1.001 underlying shares, 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 in segregated accounts within a bankruptcy-remote structure.

Retail investors and institutions AE can mint and redeem directly with Binance bStocks in USDC and underlying shares after completing KYC.

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.

NVDAb has been issued on BNB Chain as an ERC-20 token since June 2026.

NVIDIA (bStocks Tokenized Stock)NVDAb