ChainCatcher reported, citing The Kobeissi Letter, that the SpaceX IPO has driven a rapid expansion in trading activity for on-chain tokenized stocks. The data shows that cumulative transfer volume for on-chain tokenized stocks has exceeded $20 billion for the first time, marking a new milestone for the scale of these assets moving on-chain.
Thirty-Day Volume Reaches a New High
Over the past 30 days, trading volume in on-chain tokenized stocks reached $4.3 billion, setting a record high. The figure represents year-on-year growth of more than 140%. The increase came alongside trading activity connected to the SpaceX IPO, making it the central data point in this latest rise in volume.
After SpaceX tokenized stock ($SPCX) went live on June 15, Solana’s single-day spot trading volume surpassed $100 million for the first time. At one point, trading of the asset on Solana accounted for 99% of the network-wide share, while Jupiter became the largest platform by trading volume for $SPCX.