Data from a Dune dashboard maintained by the OKX Web3 Wallet team shows Robinhood Chain averaged $29.7 million in daily decentralized exchange volume for tokenized stocks over the past seven days. That figure was higher than the combined totals of xStocks on Solana, which recorded $11.1 million, and Backpack Sunrise, which posted $13.4 million. The increase was mainly tied to launch platforms including Bankr and long.xyz, which since mid-July have let users issue memecoins paired with tokenized stocks for liquidity. The setup spans more than 90 stock tickers, and memecoin trading also generates volume in stock tokens while locking those stock tokens into liquidity pools. Nvidia led tokenized stock trading on-chain with $13.9 million in daily volume, followed by SpaceX at $6.2 million and Apple at $4.5 million. Weekly peak daily active tokenized-stock traders topped 20,000 in the week of July 20, the highest among stock-token platforms. Even so, Binance’s bStocks on BNB Chain averaged $676.8 million in daily volume, more than 20 times Robinhood’s level.
According to data from a Dune dashboard maintained by the OKX Web3 Wallet team, Robinhood Chain averaged $29.7 million in daily DEX volume for tokenized stocks over the past seven days. That was above the combined total of xStocks on Solana at $11.1 million and Backpack Sunrise at $13.4 million.
The main driver of the increase was that launch platforms such as Bankr and long.xyz have, since mid-July, allowed users to issue memecoins paired with tokenized stocks for liquidity. The model covers more than 90 stock tickers. Trading in those memecoins also generates volume in stock tokens and locks the stock tokens into liquidity pools.
Among tokenized stocks traded on-chain, Nvidia ranked first with $13.9 million in daily trading volume. SpaceX followed with $6.2 million, and Apple came third with $4.5 million.
Daily active tokenized-stock traders peaked at more than 20,000 in the week of July 20, the highest level among all stock-token platforms.
Still, Binance’s bStocks on BNB Chain posted $676.8 million in average daily trading volume, more than 20 times Robinhood’s level. Tokenized stocks remain only a small share of Robinhood Chain’s total DEX volume, with most on-chain activity still led by memecoins such as CASHCAT.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
