The launch of the xStocks platform has been a significant event in the tokenized stock market, allowing Solana to achieve considerable leadership in this segment.
Initial Steps of xStocks in the Market
The launch of the xStocks platform on June 30 allowed Solana to capture over 95% of the total trading volume of tokenized stocks. On the first day of trading, xStocks’ volume exceeded $1.3 million.
Major Assets and Users of the Platform
As of July 3, assets under management on the platform reached $48.6 million. The most popular asset was the $SPYx token with $6.9 million. More than 20,000 unique wallets hold tokenized stocks, with the $SPYx token being the most held.
Prospects and Challenges for xStocks
Although initial data shows high interest in the platform, liquidity levels remain low. This could become a key factor in determining the viability of tokenized stock trading on the platform.
The xStocks platform demonstrated promising results at the start, but to ensure sustainable success, it must focus on liquidity issues.
