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Solana Dominates Tokenized Stocks, Weekly Trading Vol. Crosses $1.2B
Solana now controls 97% of the tokenized stock market after processing $1.29 billion in weekly trading volume.
17d ago 4,280
BLOCKINSIDERLoadingSolana now controls 97% of the tokenized stock market after processing $1.29 billion in weekly trading volume.
Solana has become the dominant blockchain for tokenized stocks, processing over $1.29 billion in tokenized equity trading volume last week and capturing 97% of the market activity.
Despite being a leader in the sector, SOL remains down nearly 68% from its peak, trading around $69 at press time.
According to Blockwork data, Solana handled approximately $869 million, accounting for about 97% of all on-chain tokenized stock spot trading volume in May, with all other chains combined at about $24 million.
That number has already accelerated.
Over the last seven days alone, tokenized stock trading volume reached $1.29 billion, with Solana accounting for roughly 97% of the market.
The latest chart shows daily trading volume rising sharply during June. For most of the spring, daily activity remained below $50 million. That changed dramatically over the past two weeks as trading surged above $100 million and then crossed $200 million.
On June 19, tokenized stock volume on Solana reached approximately $213 million in a single day.
According to Defi creator Tanaka, SpaceX is responsible for a large share of the recent activity. Data shows tokenized SpaceX shares, often traded under the ticker SPCX, accounted for more than half of recent trading volume.
On June 16, tokenized stock volume reached around $188 million, with SpaceX representing the majority of activity.
Three days later, total volume climbed to roughly $213 million, while SPCX alone generated approximately $157 million. The demand shows a growing trend among investors who want exposure to private companies that are normally difficult to access.
For many investors outside the United States, buying shares in private firms such as SpaceX is nearly impossible through traditional financial markets. Tokenization is beginning to change that.
However, the four issuers defining this market include Backpack Securities (SPCX), Ondo Finance, xStocks, and PreStocks. All these issuers now operate on Solana, each using a different structure.
Starting with Backpack Securities, which offers one of the closest models to traditional ownership. According to the company, its tokenized SpaceX product is backed one-to-one by actual SpaceX shares held through a regulated U.S. broker-dealer.
Eligible users can eventually redeem their holdings through traditional market infrastructure.
Next, we’ve Ondo Finance uses a different approach. Instead of directly holding assets, investors gain exposure through investment products backed by securities held with regulated custodians. The model also includes additional legal protections through third-party security arrangements.
Third in the line is xStocks, which has expanded rapidly by offering tokenized versions of more than 130 stocks and ETFs. One reason for its popularity is direct integration with Solana's decentralized finance ecosystem, allowing assets to move across trading, lending, and liquidity platforms.
Lastly, PreStocks, which focuses on pre-IPO companies such as OpenAI and Anthropic. However, investors receive synthetic exposure rather than direct ownership. Holders do not receive voting rights, dividends, or direct claims on company shares.
Despite Solana’s dominance in tokenized stock trading, it has failed to benefit solana token price.
Derivatives data from CoinGlass shows the long-to-short ratio has fallen to 0.94, suggesting more traders are betting on a price decline than a rise.
At the same time, funding rates have turned negative at -0.0080%, another sign of bearish sentiment in the market.
As of the time of publishing, Solana was trading around $69.29, down 68% from its all time high price.
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