Solana The last tokenized U.S. stock saw a rapid increase in trading volume on its first day of listing. The tokenized stocks of Grindr were launched on Solana through Sunrise and Backpack Securities on September 10th, and within less than 24 hours, the trading volume exceeded 31 million US dollars.
This figure is higher than the approximately $16.6 million trading volume on the New York Stock Exchange on the previous trading day of Grindr, and also exceeds the stock's average daily trading volume of about $25 million. This relevant data has drawn market attention, and whether the on-chain market can now provide considerable liquidity for some traditional stocks is becoming a new topic of discussion.
On-chain trading volume exceeds that of the New York Stock Exchange
Backpack, the founder and CEO, Armani Ferrante, mentioned that this could be one of the first cases where the trading volume of tokenized stocks exceeds that of the corresponding traditional stock markets. In addition to $__BJWKEEP_00003$, the on-chain trading volume of $__BJWKEEP_00004$ has also surpassed its performance on traditional exchanges.
From the data, tokenized stocks are no longer just small-scale experiments. At least for some individual stocks with weaker liquidity and concentrated attention, on-chain trading is attracting faster capital accumulation.
- In less than 24 hours since its launch, $ GRND has achieved transactions worth over 31 million US dollars.
- Grindr On the previous trading day, the trading volume on the New York Stock Exchange was approximately 16.6 million US dollars.
- Grindr The average daily trading volume is approximately 25 million US dollars.
StonkFun drives paired trading
Not long after $ GRND went live, StonkFun also included it in its trading offerings. Users were able to create and trade tokens paired with this tokenized stock. Reports indicate that such "meme coin + stock" pairs have become a major source of trading volume for the newly launched tokenized stocks on Solana.
This means that the activity of tokenized stocks on the current chain does not entirely come from traditional stock investment demand; it is also related to the more frequent and experimental trading practices within the Solana ecosystem.
Solana's RWA has the highest net inflow
As tokenized stock trading heats up, the presence of Solana in the real-world assets sector is also growing. Reports show that over the past 30 days, the net inflow of RWA from Solana amounted to approximately 348 million US dollars, ranking first among various public blockchains.
At the same time, the overall supply of tokenized stocks is also expanding. The total supply in this market has risen from approximately $500 million at the beginning of August to a historical high of nearly $830 million on September 1st.
The CEO, George Arison, previously stated in a podcast that due to the special attributes of the application, some portfolio managers would not invest in the company's stock, which could lead to its stock price being undervalued. The tokenized $GRND has brought this stock onto the blockchain market, expanding the range of potential participants.
