The recent launch of x,St,ocks enabled #Solana to achieve rapid dominance in the digital stock market.
The $SOL quickly became a leader in the stock-based digital assets sector, as the launch of x,Sto,cks from Bac,ked Fina,nce helped Solana achieve dominance in digital stock trading.
It is noteworthy that data from Du,ne Anal,ytics shows that since the launch of x,Sto,cks on June 30, Solana has captured over 95% of the total trading volume of digital stocks. Sto,,cks currently offers 60 digital assets on its platform, 55 stocks, and 5 exchange-traded funds.
Trading volume of on-chain stock tokens across the blockchain
On the first day of trading, the trading volume of x,Sto,cks exceeded $1.3 million, with #Strategy stocks accounting for 30% of that figure. However, it was soon surpassed by stocks and indices such as Tesla and S&P 500 in trading activity.
The tokenized SP,Yx stock recorded $4.67 million in daily trading volume on July 2, accounting for over 50% of the total trading that day. However, by July 3, trading volume had dropped by more than half, indicating a decline in initial trading enthusiasm.
Despite the decline in trading volumes, major users continued to hold their stock tokens. As of July 3, the assets under management for x,St,ocks reached $48.6 million. The leading asset was the SP,Yx token, with $6.9 million in A,UM. It was followed by M,ET,Ax with $4.3 million, and T,SL,Ax came in third with $3.4 million.
