In the past two days, with the decline in $SBET's financing share price and the listing and diversion of a large number of coin stocks, the market began to become desensitized to relevant information and the stock prices of the crypto sector fell.
This fluctuation is really big, but most people can only watch.
From FOMO to returning to rationality, this is inevitable. A big correction reshuffle, let the bubbles be washed away, and see who is wearing pants is very necessary.
But another thing I am concerned about is whether there is real demand for the U.S. stock tokens that have been highly sought after in the early stage?
I looked up the trading volumes of the top tokens issued by xStocksFi, including $NVDAX and $TSLAX (see the figure below)
To be honest, it's a bit horrible. Nvidia's on-chain transaction volume is only 76,000, Tesla is slightly better at around 700,000, and others like Google are less than 30,000, almost nothing.
In CEX, Gate_io is obviously a robot making fake data, so we exclude it. The data of other companies can only show a few thousand. This is worse than most local dog data.
Regardless of how xStocks makes a living, given the current trading volume, it is highly likely that they are losing money to gain publicity.
So, is putting U.S. stock tokens on the chain a false demand?
First of all, I think I need to acknowledge one thing:
Those in the cryptocurrency circle who are really interested in the Seven Sisters of the U.S. stock market have already opened accounts with U.S. stock brokerage firms. Most of the newcomers are newcomers who have been educated by the $CRCL get-rich-quick effect. They are more interested in getting on board hot stocks such as $SBET $BMNR without opening an account, as well as the copycat micro-strategies that follow them.
So when I saw Aster_DEX launching stock-coin contracts last week, I suggested to them that they should not just focus on the Seven Sisters, but should launch popular coin-stock contracts as soon as possible.
The base of the web3 population facing the tokenized spot of U.S. stocks is still too small, especially for products with relatively small fluctuations such as Seven Sisters. Many people will feel that it is not exciting enough. This is the biggest reason why the current trading volume cannot be increased.
Way out?
The path taken by Aster - leveraging the Seven Sisters of US stocks is a very good direction. After all, most people who have US stock accounts cannot use high leverage.
As more and more users realize this, especially start to post their trading orders, more people will pay attention to this track. At least I myself will be interested even though I have a US stock brokerage account.
But the current market is definitely more interested in popular cryptocurrency stocks. I hope Aster_DEX will list $SBET as soon as possible, so that everyone doesn’t have to just call each other idiots, but can use positions to fight each other.
You can speculate on US stocks at high multiples, especially Perpdex, a cryptocurrency stock, which is the only one in the cryptocurrency circle - isn't this a good mindshare handle?
I wonder what you think about the current transaction volume and low DAU of the previously vigorous US stock chain. Welcome to the comment section to share
