A few days ago, while writing a post about $STONKS, I noticed during my data research that the market size for the [security tokens] sector has surged.
Earlier this month, the market size for this sector was only less than 20 million, but by the end of the month, the total value had surpassed 500 million, growing dozens of times in just a few days.
What's going on? I dug into various sources and basically figured it out.
1. The growth of the sector mainly comes from the Algorand chain, developed by a wallet developer @exodus, which issued through the Securitize @Securitize platform.
Securitize is currently the leading issuer in the RWA market, especially in the US Treasury market, with an issuance volume of nearly 2 billion, significantly more than $ONDO.
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2. This wallet developer was approved to list on the New York Stock Exchange last year, with a current market capitalization of 1.43 billion, and at the same time, they tokenized their stocks on the Algorand chain.
This is also what I know; aside from Coinbase, it’s the first Web3-native company to go public in the US and then tokenize its stocks.
During Trump's presidency, it is highly likely that there will be more than one such case in the future.
While connecting to the global liquidity of the US stock market, one foot is also in the all-weather trading environment of the crypto market.
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3. Previously, there were rumors that Opensea was going to issue a token, but they were initially seeking to go public, only to find themselves out of luck due to both tightening macro policies and upheaval in the micro environment.
In domestic companies developing in the US, this trend may appear in this cycle; I remember there were rumors about Binance US going public before.
If Binance US does securities tokenization at that time, it could be the US version of BNB. 🤣
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4. Lastly, I want to mention that the data from RWA.xyz has been as comprehensive as possible; currently, the data collection for this sector is still not quite complete.
The Tradable I mentioned before was issued on the zksync chain, but it may involve false data, as I couldn't find sufficient convincing proof of funds from public market information, the official website, or block explorers.
(I also noticed that the latest cumulative value of the Figure protocol has already exceeded 10 billion, and I confirmed it several times; the unit is indeed correct.)
I posted other RWA-related posts earlier this month, referencing data on security tokens, and at that time the market size was only 20 million.
And this suddenly emerged security token valued at 500 million can be traced, possibly only a retrospective analysis of growth based on historical trajectories.
