The market value of tokenized stocks hits a new high of 2.3 billion dollars, with major platforms setting multiple historical records on the same day
ChainCatcher news, according to Token Terminal data, the tokenized stock market reached a record market value of 2.3 billion USD in mid-July, nearly doubling since it first surpassed 1 billion USD in March. On July 21, the circulating supply (514.5 million shares) and number of holders (93,880) of Ondo Finance’s tokenized stocks, the market cap of Backed Finance’s tokenized assets (579.4 million USD), and the number of tokenized stocks (126,720 shares) and holders (36,170) on Robinhood Chain all reached historical highs.
On the same day, Arcus, the tokenized stock exchange launched by the dYdX team, recorded 11.9 million USD in daily perpetual contract trading volume and a new high of 6.8 million USD in open interest. By blockchain distribution, Ethereum accounts for 34% of the tokenized stock market share, BNB Chain for 30%, and Solana for 23%. Ondo Finance leads with 955 million USD worth of on-chain stocks, having recently partnered with Japan’s SBI Group to tokenize Japanese stocks and launched 24/7 minting, redemption, and voting functions. Within eight months of going live, xStocks’ cumulative trading volume has surpassed 25 billion USD. Ondo executives previously estimated that the market cap of tokenized stocks would reach 2.5 to 3 billion USD by the end of the year.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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