Tokenized Stocks Surpass $1 Billion in Trading Over Labor Day Weekend
During the recent Labor Day weekend, tokenized stocks traded on decentralized exchanges generated over $1 billion in volume, demonstrating robust activity even as traditional markets were closed. On Saturday and Sunday, trading reached approximately $1.01 billion, closely following Friday's volume of $1.02 billion. The holiday Monday added another $398.3 million to this total, highlighting the growing interest in onchain equity trading.
Among the platforms facilitating these trades, Robinhood Chain emerged as the leader, processing $572.8 million in transactions, which accounted for more than 57% of the total trading volume over the weekend. Grayscale research indicates that Robinhood Chain, along with Binance's BNB Chain and Solana, has become a significant player in the tokenized stock market.
BNB Chain's bStocks platform also made a notable impact, with a single fund, QQQB, generating $180.5 million during the holiday. Cumulatively, BNB Chain has surpassed $5.2 billion in tokenized stock volume. Meanwhile, Base, Coinbase's Layer 2 network, has quickly gained traction since launching its B20-standard tokens in August, achieving $730.9 million in cumulative volume over the past month. This rapid growth underscores the evolving landscape of tokenized equity trading, which allows for continuous trading outside traditional market hours.
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Source: KLEA News