Backed has launched a series of tokenized physical stocks, allowing investors to access notable stock codes like Tesla, Apple, and Nvidia through xStocks Tokens.
The xStocks application shows that the total trading volume of this tokenized stock has exceeded 2 billion USD, even though the number of investors owning tokens remains modest at around 25,500 individuals.
MAIN CONTENT
Backed issues tokenized physical stocks that track famous stocks.
The total trading volume of xStocks has exceeded 2 billion USD.
The number of investors owning xStocks Tokens is approximately 25,500, with Tesla being the most popular token.
What has Backed done to popularize tokenized stocks?
Backed introduces a series of tokens tracking the prices of physical stocks, creating simpler investment opportunities with stocks like Tesla, Apple, and Nvidia through xStocks Tokens.
This helps connect the traditional market with the cryptocurrency world, expanding options for investors who want to diversify their portfolios by owning tokens representing real stocks.
Thanks to this platform, investors do not need to directly own stocks to participate in the market through tokens that reflect actual market fluctuations.
What level of trading volume has tokenized stocks achieved?
Data from xStocks' Dune dashboard confirms that the total trading volume of xStocks Tokens has surpassed 2 billion USD, indicating significant attraction to this investment model.
This opens up the potential for growth in the market for tokenizing physical assets in the cryptocurrency sector, as it helps increase liquidity and provides easier access with diverse investment amounts.
However, high trading volume does not necessarily mean a large number of popular investors, reflecting the market's concentration among a core user group.
What is the current number of investors in tokenized stocks?
Currently, about 25,500 individuals own xStocks Tokens, a figure still relatively low compared to trading volume, indicating limitations in reach or investor understanding.
The token representing Tesla stocks is the most favored with nearly 11,000 investors, followed by the token tracking the S&P 500 index with about 10,000 owners.
This trend reflects focused interest in some familiar traditional assets and the high growth potential assessed within the cryptocurrency investor community.
The tokenization of stocks helps connect the traditional finance sector with the cryptocurrency world, expanding diverse and easily accessible investment opportunities for both new and expert investors.
Financial Analysis Expert, August 2024 report
Frequently Asked Questions
What is stock tokenization?
Tokenizing stocks is a form of converting physical stocks into tokens on a cryptocurrency platform, allowing for more flexible investments and quicker liquidity.
Why is the number of xStocks Token holders still low compared to trading volume?
The low number of holders is due to the market still being new, requiring higher knowledge and access levels for advanced cryptocurrency investors.
Is the Tesla Token at Backed the most popular?
Yes, the Tesla Token currently has nearly 11,000 investors, making it the majority in Backed's tokenized stock portfolio.
Do investors need to own real stocks to trade tokens?
No, investors only need to buy tokens representing stocks on supported platforms without needing to own real stocks.
What advantages does xStocks Token have?
xStocks Token offers flexibility in investment, easy trading, and access to famous stocks without complex traditional procedures.
Source: https://tintucbitcoin.com/xstocks-token-vuot-2-ty-usd-giao-dich/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated on the latest news about the cryptocurrency market and not miss any important information!