The on-chain trading volume of xStocks stock tokens currently exceeds $3 billion. More than $500 million of that comes from trading on decentralized exchanges. The combined trading volume of CEX and DEX has reached more than $17 billion. And 57,718 wallet addresses currently hold one or more xStocks tokens.
Each of these tokens tracks a real-world stock or ETF. The most traded ones are related to Tesla, NVIDIA, and Circle.
Tesla, NVIDIA and Circle tokens dominate in both holders and value
According to Dune data, Tesla-related token TSLAx has the largest number of holders at 18,350. It also has the largest pool of assets. The price is $431.31 for 123,999 tokens, for a total value of $53.48 million.
NVDAx, affiliated with NVIDIA, has 13,816 owners and $19.36 million in assets, with a token price of $183.37. CRCLx, based on Circle, is in third place with 244,775 tokens, $17.78 million in assets, and 7,986 holders.
Other major tokens have also attracted significant amounts. GOOGLx (Alphabet) has 10,328 owners with assets of $13.74 million. SPYx (S&P 500) has 11,452 holders and is valued at $12.66 million.
Source: Dune
MSTRx, which tracks MicroStrategy, has 6,024 holders and $8.33 million. GLDx (Gold) and QQQx (Nasdaq) follow closely, with both totaling more than $6.9 million.
COINx (Coinbase) is sitting at $3.51 million with 15,482 tokens, while AAPLx (Apple) has 7,947 holders, 11,808 tokens, and $2.92 million in assets. METAx has 3,174 holders and its value is $2.71 million. DFDVx, TONXx, and HOODx are all in the $1.9 million range.
Other names such as AMZNx, MSFTx, and STRCx have raised funding between $1 million and $1.5 million, with supply ranging from a few thousand to over 10,000 tokens. Lower-tier names like MCDx, UNHx, PLTRx, and GMEx still hold six-digit AUMs even though each has less than 3,500 tokens.
The list of holders includes everything from blue chips to niche companies. NFLXx has 1,345 holders. MCDx is 1,181 and GMEx is 976. Even the smaller ones like XOMx, AMBRx, BRK.Bx, ORCLx all have real wallet numbers. This is not a testnet ghost town. Even though AMBRx has 195,029 tokens, the price is only $2.39, giving it total assets of $466,212. Still, there are 571 holders.
Source: Dune
NYSE targets tokenized stock trading with new blockchain platform
While xStocks continues to expand its activity, the New York Stock Exchange is also playing catch up. The NYSE is working on a blockchain-based platform that will allow users to trade tokenized stocks and ETFs 24/7. There is no closing time. There are no delays.
The new system uses the same trade matching technology they already have, combined with private blockchain rails. The platform allows users to buy and sell instantly and settle trades in real-time without having to wait until the next day.
Michael Blauglund, director of strategic initiatives at Intercontinental Exchange, said the plan is part of the NYSE’s transition from floor trading to electronic systems and now to blockchain. “This will enable new access for investors and create new opportunities for retailers to participate in the rising stablecoin-funded market,” Michael said.
The NYSE is still waiting for the green light from the SEC, but negotiations are underway. If approved, it is expected to go on sale later this year.
