The trading volume of xStocks dropped 93% after July 4th, indicating that the tokenized stock cryptocurrency market is still heavily influenced by the rhythms of traditional finance.
Despite continuous 24/7 access, the trading activity of tokenized stocks still reflects holiday schedules and Wall Street trading habits, showing a dependence that cannot be eliminated.
MAIN CONTENT
xStocks trading peaked at 8.5 million USD at the beginning of July before plummeting sharply, decreasing over 93% during the 4th of July holiday.
Top stock tokens like METAx and SPYx lead the market, but also cannot avoid a sudden decline after the holiday.
Although the market operates 24/7, user engagement and trading volume still depend on working hours and traditional financial habits.
xStocks plummeted sharply after the 4th of July holiday – What is the reason?
Data from Dune Analytics highlights a severe drop in volume and the number of traders in xStocks, as evidenced by daily trading figures decreasing from 8.5 million USD on July 2nd to just 563 thousand USD on July 5th.
This reflects that although designed to operate year-round, the tokenized stock market still heavily relies on Wall Street trading rhythms and traditional investor habits.
“The decline in xStocks trading during the holiday shows that the cryptocurrency market cannot completely detach from the influences of traditional finance.”
John Miller, CEO of Kucoin Ventures, 5/2025
This shows that decentralization is not yet sufficient to completely change trading behaviors formed over many years in traditional financial markets.
What are the leading and lagging stock token codes?
Specifically, METAx and SPYx dominated trading at the beginning of July with a large number of participants and high volume.
However, even tokens with good liquidity cannot maintain buying power entering the holiday, with the number of trading accounts dropping from over 8,500 to below 2,000 in just a few days.
For example, ORCLx, GLDx, and CRWDx, despite having a large supply in the market, trade very little, showing an imbalance between liquidity and actual demand.
“Liquidity does not equate to user interest — this means the market needs more incentives to stimulate actual trading.”
Anna Lee, cryptocurrency analyst, Q2/2025
Why does the xStocks market, despite operating 24/7, still follow the traditional 9-5 rhythm?
Although designed to allow continuous trading, the gradual decline during the holidays proves that users have not yet formed independent trading habits and are still strongly influenced by holiday schedules and traditional financial habits.
This presents a significant challenge to achieving complete freedom in the tokenized stock market – it takes time to build trust and create a loyal, proactive trading community.
Token Code Highest Volume (2/7) (USD) Lowest Volume (5/7) (USD) Trader Count Fluctuation METAx 3.2 million 210 thousand 8,500 → 1,900 SPYx 2.9 million 190 thousand 8,500 → 1,900 TSLAx 1 million 75 thousand — ORCLx 680 thousand 10 thousand —
Frequently Asked Questions
Why did the trading volume of xStocks drop sharply after July 4th? The dependence on Wall Street's holiday schedule caused users to pause trading, even though the market operates 24/7. Can tokenized stocks solve the liquidity issue? High liquidity does not equate to sustainable investor interest; demand stimulation is still needed. Can xStocks trading activities break away from traditional rhythms? It will take time to build trust and an independent trading community to break the current rules. Which tokens lead trading in xStocks? METAx and SPYx are the two codes that dominate in volume and trader count. Who provides data on xStocks and tokenized stock trading? Official data is compiled from Dune Analytics and analyzed by Kucoin Ventures.
Source: https://tintucbitcoin.com/xstocks-rot-93-sau-4-7-giao-dich-24-7/
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